Head of Compliance & MLRO

Head of Compliance & MLRO

Brite Payment Group is a fast-growing second generation FinTech in the European payment space. Allowing consumers to make payments using their bank account Brite employs state-of-the-art open banking technology to process instant payments across Europe across a wide range of verticals. With connections to many of the continents largest banks consumers and merchants receive their funds instantly making online payments safer and more convenient than ever.

Headquartered in Stockholm Sweden Brites solutions are available in 21 markets across Europe. Were on a mission to make instant bank payments the new standard and are actively pushing for a new era of safety in our sector. Operating in the dynamic market environment where regulations evolve as bank-based payments become ever more popular Brite is now looking for a Head of Compliance to take ownership of the businesses compliance matters across multiple jurisdictions relating to various fields of Brites operations and stakeholders including consumers merchants banks and authorities.

Job Summary

The Head of Compliance & MLRO is a key role within Brite Payment Group reporting directly to the CEO and working closely with the Risk Control function the Chief Legal Officer and all other members of the management this role your greatest strength is the ability to combine your deep understanding of the regulatory landscape with Brites operations and payment products. Your passion is not just understanding the rules but successfully translating them into daily operations. You have a strong ethical compass underpinning your drive to support a fast growing business.

You will be expected to translate regulatory requirements into internal recommendations to ensure the whole business is aware of relevant regulatory developments. It will be beneficial if you have already worked in an international organisation as you will ensure compliance oversight of Brites multi-jurisdictional business and organisation.

Key responsibilities include (but are not limited to):

We have laid the foundation for a strong in-house Compliance function at Brite and now its your mission to scale it demonstrating a working knowledge of applicable banking and payment services laws and regulations (such as PSD2/PSD3 AML5/AML6 DORA) industry trends emerging issues and a keen interest in regulatory innovation.

Contribute actively to the management of a licensed financial institution by taking charge of Brites governing documents and manage company-wide renewals to ensure consistency with current applicable financial services laws and regulations while helping to enforce them

Provide advice guidance and insight to management and staff regarding new/emerging compliance risks and issues. Consult and guide the company in establishment of controls to mitigate compliance risk;

Work with the management team and senior managers to establish and maintain internal processes and routines that support identification and management of compliance risks such as NPAPs compliance risk assessments regulatory horizon scanning and the Risk & Compliance Forum

Establish compatibility with regulations across various customer verticals (such as financial services and other regulated services) as well as geographies. Develop close working relationships with Brites outsourced Internal Audit and Risk Control teams (currently outsourced to twobig four firms)

Draft annual plans and work on risk-based monitoring and evaluation activities including risk assessment monitoring and testing analysis of findings and reporting to ensure effective sustainable compliance risk management processes exist

Provide regular compliance updates to the CEO and semi-annual reports to the board.

Identify and communicate need for compliance training programmes and oversee the development and implementation of compliance training for all staff members; Be the first point of contact for Brites communication with local FSAs including coordinating ad hoc submissions and supervisory audits

Contribute in due diligences by partner banks and investors and in merchants Requests For Proposals

Communicate and participate in dialogues with external parties such as local FSAs external advisors business partners and similar

Maintain the compliance culture at Brite as a challenger business pushing innovative boundaries while safeguarding our license to operate at all times

Finally represent the spirit of Brite through a high integrity high availability approach towards all stakeholders alike.

In your role as Money Laundering Reporting Officer (MLRO) key responsibilities include:

Work closely with Brites Head of AML and Specially Appointed Executive. Oversee the refinement and continuous improvement of Brites Anti-Money Laundering (AML) Counter-Terrorism Financing (CTF) and Sanctions programmes.

Decide on which cases should be reported as SAR/STRs to the Financial intelligence Unit and ensure quality assurance in such reports.

Ensure timely and accurate regulatory reporting on AML matters including submitting the annual reporting to the Swedish FSA.

Serve as a subject matter expert and provide advice and guidance on AML CTF and sanctions compliance and provide financial crime awareness training for staff (both annually for all staff and ad hoc for the AML team other teams and the board).

Provide regular updates to the CEO and semi-annual reports to the board on Brites AML/CTF/Sanctions compliance.

Who are you

As Brites future Head of Compliance you have a minimum of 7 years professional working experience either at a financial institution or consulting firm advising financial institutions (or other comparable firm)

You have solid recent experience from working at a Swedish fintech or other institution under the Swedish FSAs supervision.

You are fluent in Swedish and English so that you can read publications from the Swedish FSA and other relevant local and EU authorities bodies and industry associations.

You have a relevant legal degree from a European university

You have deep knowledge of financial services regulation best industry practices and the implementation thereof in daily operations

You are genuinely passionate about ensuring compliance while understanding the nature of a fast-growing business

Integrity is a key value for you and you thrive in a highly ambitious team that with a strong moral compass

You are comfortable sorting out ambiguity and can bring clarity of purpose to the teams surrounding you. You know where to start and how to motivate deliveries from other teams

You are able to work comfortably in an intense fast-paced international environment and have the ability to communicate and present complex issues and matters to all levels of an organisation