Head of Compliance and MLRO

Caxton FX ,
London, Greater London
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Job Description

Caxton, the award winning payments and foreign exchange specialist, is looking to recruit an experienced compliance professional to join the senior team. The mandate of the role is to be responsible for the compliance function for the company and managing a tight-knit team of experienced fraud and compliance professionals. Reporting to the CEO, this is a wide-ranging and important role that requires a subtle and flexible approach with sympathy for the business needs within the context of the law. Caxton has different business strands that have oversight from regulators and regulated partners including the Financial Conduct Authority, EU pre-paid card issuing banks and relevant regulators. It is covered by various legislation including E-money Regulations, Payment Services Regulations, Financial Services and Markets Act 2000, as well as being impacted by overseas legislation such as FATCA. Guiding and navigating the business around these various parties and legislations is central to this role. A key requirement of this role will be direct communication with the regulators and the successful candidate will take personal responsibility for the relationship with the regulators. The same individual will also act as a company representative in meetings with bankers, card schemes, regulators and associations. Overall, this role requires the formulation, management and maintenance of coherent, workable operational policies, regarding compliance for the company. Principal responsibilities and key activities * To adopt the roles of SMF16 compliance oversight and SMF17 MLRO. * To establish, develop and maintain the firm's money laundering risk profile: the MLRO will have to consider the firm's customer, product and activity base, distribution channels, complexity and volume of transactions, processes and systems and operating environment. * Represent the firm to all external agencies including regulators, law enforcement, external compliance consultants or any other third party in relation to money laundering and CTF investigation and prevention. * Investigate all suspicious activities in a timely manner and report to the relevant law enforcement agency when required. * Provide advice on special projects, including the launch of new products and services. * Assess the appropriateness of the companys compliance related policies and procedures, promptly follow up any identified deficiencies and, where necessary, formulate proposal for amendments and communicate effectively. * To develop the compliance, AML and other regulatory training requirements of the business, being responsible for the delivery of the same. * To liaise with regulators where needed on both a technical and legislative level. * To create, implement and communicate a robust, customer focused compliance monitoring plan supporting a culture where the role of compliance in the business is understood and appreciated. * Effectively manage the compliance team to ensure appropriate methods of financial crime prevention, AML and compliance standards are implemented * To provide Management information at the month Board Meetings as well as delivering an Annual report on the firms compliance with its obligations. Requirements * Relevant experience as an MLRO * ICA international qualifications in one or each of Anti-Money Laundering, Compliance or Financial Crime Prevention. * Experience in foreign exchange and/or payments markets * An understanding of the application of MiFID to FX Options and other complex products. * Comfortable with the application and operation of a three lines of defence model. * Proven experience at gaining buy in from both internal and external stakeholders. * The ideal candidate will hold or have previously held FCA relevant control functions. * Strong written, verbal and presentation skills with ability to communicate and influence at all levels of the business. * Thorough understanding of compliance monitoring systems as well as proven understanding of the UK regulatory framework and regulations applicable to the business. Working at Caxton Caxton was established in 2002 to deliver foreign exchange and payment services to both retail and corporate markets. Since the beginning, we've built our offering on two key differentiators: exceptional value for money and the highest standards of customer service. In 2007, we launched our first prepaid currency card free of fees and charge and have become one of the most trusted and respected travel card providers in the UK with over 450,000 account holders. Our brand ethos underpins customer value. Our value is not related to price, but to the level of satisfaction our customers receive from interactions with our technology and people. Our ethos guides consistent behaviour and experience, to build a stronger relationship, with greater perceived value: We are professional and reliable We offer helpful, intelligent experiences Honesty and trust is at the heart of what we do Internally we have buil

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