Head of Risk and Compliance
Job Summary
Job Description
Zeta is seeking a Head of Risk and Compliance to oversee all risk management and compliance functions for clients operating in the UK market, focusing on consumer lending and payments. The role involves developing compliant business processes and policies, managing risks (credit, operational, financial, reputational), and ensuring compliance with FCA regulations like CONC and Payment Services Regulation. Key responsibilities include designing and maintaining a comprehensive compliance program, acting as the primary contact with regulatory bodies, overseeing Anti-Money Laundering (AML) activities, and championing consumer duty. The Head of Risk and Compliance will also advise on risk and compliance matters, present updates to the board, and build and lead the risk and compliance team. This role is crucial for shaping the company's risk and compliance framework and ensuring robust governance.
Must have:
- Extensive experience in risk and compliance management in FCA-regulated consumer lending.
- Detailed knowledge of FCA regulations (CONC, SYSC, AML).
- Detailed knowledge of Payment Services Regulation.
- Strong communication and interpersonal skills.
- Ability to create compliant and implementable solutions.
Good to have:
- Experience holding SMF16 and SMF17 roles or equivalent.
3 skills required
Job Details
About Zeta
Zeta is a Next-Gen Banking Tech company that empowers banks and fintechs to launch banking products for the future. It was founded by Bhavin Turakhia and Ramki Gaddipati in 2015.Our flagship processing platform - Zeta Tachyon - is the industry’s first modern, cloud-native, and fully API-enabled stack that brings together issuance, processing, lending, core banking, fraud & risk, and many more capabilities as a single-vendor stack. 15M+ cards have been issued on our platform globally.Zeta is actively working with the largest Banks and Fintechs in multiple global markets transforming customer experience for multi-million card portfolios. Zeta has over 1700+employees - with over 70%roles in R&D - across locations in the US,EMEA, and Asia. We raised$280 million at a$1.5 billion valuation from Softbank, Mastercard, and other investors in 2021.
About the Role
We are looking for a Head of Risk and Compliance, responsible for overseeing all risk management and compliance functions to assist clients adhere to regulatory requirements and best practices required to operate within the UK market. The focus of the role is on the consumer lending and payments markets, with the role holder having a strong knowledge of CONC and Payment services regulation.
Reporting directly to the UK CEO, the role will play a pivotal role in shaping the company's risk and compliance framework, maintaining its reputation and ensuring robust governance.
Responsibilities
1. Develop compliant business processes and polices as part of business launch plans
- As clients and the business develops processes, customer journeys and financial promotions as part of the go to market plans, you will work with key business stakeholders to ensure journeys and customer outcomes are robust and compliant with the relevant regulation as authorised consumer lenders and authorised payment institutions.
2. Risk Management
- Develop, implement, and maintain the company’s risk management frameworks in line with FCA regulations and business objectives.
- Identify, assess, and mitigate key risks, including credit, operational, financial, and reputational risks.
- Provide regular risk reporting to the board and ensure a robust risk culture throughout the organization.
3. Compliance Oversight
- Design and maintain a comprehensive compliance program to meet FCA regulatory standards.
- Ensure regulatory returns are completed accurately and in a timely manner
- Monitor regulatory changes, assess their impact on the business, and ensure timely communication and implementation of required actions.
- Act as the primary point of contact with the FCA and other regulatory bodies.
- Conduct compliance reviews, ensuring timely remediation of findings.
- Ensure that any financial promotions are approved in accordance with FCA rules.
- Act as Company Secretary for board, ensuring corporate governance processes are followed.
4. Anti-Money Laundering (AML)
- Serve as the MLRO where required, ensuring effective AML and counter-terrorism financing policies and procedures.
- Oversee transaction monitoring, reporting of suspicious activities, and ensure compliance with all AML requirements.
5. Consumer Duty
- Act as the nominated board owner for consumer duty in the origination (delivery supported by fellow Executive committee members)
6. Governance and Reporting
- Act as advisor on all risk and compliance matters.
- Present risk and compliance updates to the board and external stakeholders as required.
- Ensure the integration of risk and compliance considerations into strategic decision-making.
7. Leadership and Collaboration
- Build and Lead the risk and compliance team to ensure high performance and alignment with business objectives.
- Foster a collaborative and integrated approach to risk and compliance management within the business.
- Extensive experience in risk and compliance management within an FCA-regulated consumer lending firm and authorised payment institution.
- A detailed knowledge of FCA regulations, including CONC (Consumer Credit Sourcebook), SYSC (Senior Management Arrangements, Systems, and Controls) and AML regulations.
- A detailed knowledge of Payment Services Regulation and requirements of regulated payment providers.
- Strong communication and interpersonal skills and an ability to work with the business to create compliant and implementable solutions.
- Experience holding SMF16 and SMF17 roles or equivalent.
- Zeta is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We encourage applicants from all backgrounds, cultures, and communities to apply and believe that a diverse workforce is key to our success
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