Head of Compliance at Mama Money

As our Head of Compliance you will be responsible for:

Due Diligence:

• Lead our overall due diligence processes, enhancing it when relevant, for customers, agents, payment partners.
• Ensure we fulfil all our due diligence obligations towards our payment partners across the globe
• Ensure all our payment partners across the globe fulfil their due diligence obligations towards us. 
• Support our expansion of new products and new territories by engaging with relevant regulators, understanding new regimes and ensuring Mama Money takes into account regulatory considerations in our strategic decision making
• Ensure adherence to regulatory standards and best practices.
• Stay up-to-date with the latest regulations, especially SARB licence requirements / FIC guidance notes 
• Manage the UK licence requirements and ensure compliance with quarterly and annual audits.
• Oversee the licensing process in new territories. 
• Actively assist and advise the Executive Management in monitoring and mitigating compliance risks in line with the risk tolerance of the company.
• Proactively audit processes, practices, and documents to identify weaknesses

Anti-Money Laundering (AML)

• Implement AML rules and procedures.
• Utilize our internal and external transaction monitoring systems, such as Napier, to proficiently identify potential risks associated with transactional behaviour
• Leverage Napier's data analysis capabilities to proactively mitigate potential risks and ensure ongoing compliance.
• Investigate trends and patterns across different corridors to streamline investigation processes and enhance AML effectiveness.

Fraud Prevention:

• Establish and enforce rules configurations based on fraudulent activities, making it more difficult for fraud to go undetected.
• Oversee our various lines of defences against fraud and oversee our fraud investigations, ensuring the identification and mitigation of actual fraudulent activities.
• Analyse data and trends to proactively prevent fraud.
• Develop a strategic approach to fraud mitigation, moving from a reactive to a proactive stance.
• Collaborate with technical experts to strategize and implement effective anti-fraud measures.

Technical Expertise and Strategy:

• Utilise systems thinking and data analysis to make informed decisions.
• Take ownership of implementing, managing and enhancing our compliance systems, ensuring streamlined and automated workflows.
• Drive technical understanding and data analysis for AML and fraud prevention.
• Enhance the technical capabilities within the Compliance/Operational Risk department.
• 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 first risk assessment of our business from a compliance perspective, identify gaps and propose mitigation strategies.
• Propose AML system improvements and champion their implementation.
• Get to know the compliance team, the senior management team, and the overall people in our organisation.

About you:

• You have at least 8-10 years of Compliance management role.
• You are familiar with industry practices and professional standards and have knowledge of legal requirements and controls (e.g. AML, KYC, Fraud).
• Strong technical understanding and experience in AML and fraud prevention.
• You have experience setting up, managing, and developing a team of AML / Customer Screening / Fraud investigators, specifically focusing on their ability to grow their skillset and liaise with the rest of the organisation.
• You have actively managed the set up and maintenance of transaction monitoring rules set, specifically with regard to rules that identify money laundering and fraud patterns
• Proficiency in data analysis and trend identification.
• You have experience in the successful implementation of robust compliance frameworks and processes - both in AML/KYC and Consumer Fraud.
• You have experience managing and improving the usage of customer screening and automated transaction monitoring tools.
• You have designed and implemented risk management programmes
• You have the ability to provide input in product development with regards to compliance enhancements and customer protection.
• You have experience dealing with payment partners and third-party agents especially in terms of DD, EDD and risk management.
• Strategic thinking and the ability to design and implement effective anti-fraud measures.
• Excellent communication and leadership skills.
• Proven experience in managing compliance, AML, and fraud prevention teams
• Compliance with regulatory requirements.
• Effectiveness of AML and fraud prevention measures.
• Timely identification and mitigation of fraudulent activities.
• Proactive approaches to risk management.
• Successful expansion into new corridors with minimised risks.