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Who we are:
Mama Money is a growth stage fintech startup working to help migrant workers in South Africa send money home. Since 2015 we have been providing reliable remittances, at a socially fair price, to those that need it most.
Mama HQ is in beautiful Cape Town, South Africa. We are 122 people strong (and counting) from 19 countries across Africa, Asia, the UK, and Europe. Our culture is built around the well-being of our team members and making a difference in our communities. “Just be lekker!” personifies our approach to work: we trust the wisdom of our talented and diverse team to do what is best for our customers and get the job done responsibly, without pedantic policies.
We’ve been around since 2015 and have earned a few accolades along the way, made some new friends, and expanded our reach. We've had some great times and some tough times, but we continue to focus on helping people rather than maximizing profit.
Mama Money is expanding globally and we are looking for a UK-based Compliance Officer, with experience working in the money remittance industry, to join us. This role would be completely remote, ideally based in London, and the first of our UK / EU-based positions.
As our UK Compliance Officer, you’ll be one of our first employees to join our new exciting journey. We are looking for an ambitious, passionate, and compliance-driven expert willing to make a difference.
As our UK Compliance Officer, you will:
- Be one of the first members of our UK-based team and you will need to be comfortable working remotely as part of a global team
- Review and stay abreast of all the existing and new laws regarding Anti-Money Laundering, Countering the Financing of Terrorism / Proliferation Financing and Sanctions (“Anti-Financial Crime” or “AFC”) as issued by the Financial Conduct Authority (“FCA”) / HM Revenue and Customs (“HMRC”) and to ensure these are being adopted by the company.
- Make sure appropriate due diligence is carried out on customers and business partners.
- Review Suspicious Activity Reports (“SAR’s”) to decide if the SAR should be passed on to the National Crime Agency (“NCA”) and for submitting these reports as required within the regulatory timelines.
- Monitor business relationships, recording reviews and decisions taken about continuing or terminating trading activity with particular customers and monitoring the activity levels of the business itself.
- Update existing AFC Manuals according to the applicable legislation and submitting these documents to Group Head of Compliance for approval.
- Be responsible for all other AFC related tasks and duties as required by your role by the applicable legislation.
- Assist with appropriate licensing applications and regulatory requests.
- Oversee controls and systems to prevent or deal with violations of legal guidelines and internal policies.
- Assist the team with monitoring and evaluating the efficiency of controls, reporting on the monitoring performed, and assisting in recommending areas of improvement/enhancements to the control environment continuously, specifically with regards to AFC control measures.
- Revise and report on controls and associated procedures periodically to identify money laundering, terrorist financing, proliferation financing, and sanctions risks and escalating areas of non-compliance and/or non-conformance with regards to AFC measures.
- Assist the Team to assess the business’ future ventures to identify possible compliance-related risks.
- Strengthen the compliance infrastructure within the Mama Money UK business to ensure the business makes informed risk-based decisions regarding new opportunities, markets, products, and/or services as well as local initiatives. In addition, this will entail the appropriate compliance processes and controls are developed, documented, implemented, and reported on.
- Review the work of colleagues, as necessary, to identify compliance issues and provide advice or training as required.
- Keep abreast of regulatory developments within or outside of the company as well as evolving best practices in the compliance control environment.
- Prepare reports as well as regulatory/supervisory bodies as required.
- Manage and implement the company’s compliance training, specifically with regards to AFC control measures.
About you:
- You have at least 5 years’ experience as a Compliance Officer within the money remittance industry.
- You are able to analyse regulatory requirements and associated data for decision making.
- You have experience managing compliance programmes within an authorised payments institution.
- You have an in-depth knowledge of UK Money Laundering Regulations and Payment Services Regulations.
- You are able to interpret regulations and guidance to assess the impact and develop practical operational procedures to ensure ongoing compliance.
- You have experience executing compliance programs, including design, implementation, and oversight of controls.
- You are a self-starter who is flexible and able to work under pressure and within deadlines.
- You have strong business acumen and are solutions orientated.
- You are risk management and internal controls focused.
- You have the ability to juggle substantial competing demands and adapt to evolving priorities is a must.
- You have strong written and verbal communication skills.
- You value attention to detail as critical.
It would be a bonus if:
- You have worked within the fintech space or at a rapidly scaling startup.
- You have worked with migrants or understand migrant communities.
Essential Educational Qualifications:
- Bachelor’s Degree or higher in business or legal related field of study.
- Formal Compliance certification, e.g. ACAMS or industry equivalent would be advantageous.
In your first 90 days at Mama Money you will:
- Understand our business, our corridors, our transaction patterns, our existing rules and framework and our regulatory obligations.
- Do your own first risk assessment of our business from a compliance perspective, identify gaps and propose mitigation strategies.
- Propose compliance (including AFC) system improvements and champion their implementation with the support of the Group Head of Compliance.
- Get to know the Compliance Team, the senior management team and the overall people in our organization.
Why Mama:
At Mama Money, the customers & communities we serve are at the heart of all that we do.
We bring our authentic selves to work where we are free to express our diverse identities while staying true to what we believe in and how we feel. Part of that means being able to have difficult conversations when necessary but always remembering to do so with trust, respect, and a positive mindset. Being open to receiving feedback and understanding how this helps us evolve and grow is essential to succeeding in our environment.
We are responsible for ourselves, our behaviour, our delivery, and our output. Although we always aim to move things forward and get $hit done, we start small - taking it step by step and always looking for ways in which we can improve. We know from experience that when we work together towards a common goal, we can achieve anything.
Mama Money is a special place because we care. We care about our customers, we care about the people who work for us and we care about the impact our work has on the world. There are things that we don’t care about too. Things like bureaucracy, discrimination, ego, titles, and silos. We’re a friendly bunch who don’t take ourselves too seriously but we do take our work, and our customers’ hard-earned money, very seriously.
Mama’s values:
1. Customer & Community
2. Authentic
3. Positive Mindset
4. Responsible
5. Togetherness
Applications are now closed