HEAD OF RISK & COMPLIANCE AND MLRO / LONDON / HYBRID / £90000-£95000 / ANNUAL BONUS / BENEFITS/ PERMANENT
About the Team/Role
The Head of Risk & Compliance and MLRO (UK) is a critical leadership role responsible for the strategic direction and day-to-day management of the risk and compliance function for Optal Financial Limited (OFL).
OFL is WEX’s authorised Electronic Money Institution (EMI) in the United Kingdom and is regulated by the Financial Conduct Authority (FCA). As a key ‘EMD Individual’, the successful candidate acts as a strategic partner to both local and global business units, ensuring that OFL maintains its "Mind and Management" in the UK while aligning with WEX's global standards.
Reporting to the Senior Director - Head of Regulated Entities EMEA, you will be expected to demonstrate a proactive ‘self-starter’ mindset, utilising internal tools—including AI and data analytics—to enhance regulatory processes and capabilities. Beyond local oversight, you will be a key contributor to the International Compliance team, identifying and leading initiatives that strengthen the firm's global compliance posture.
What’s on offer?
1. Highly competitive salary of between £90000-£95000 (dependant on experience)
2. Annual company bonus
3. 40 hour week- Monday to Friday
4. Hybrid working (ad-hoc meetings in the London Bridge office)
5. Industry Leading pension scheme
6. Private Medical
7. 25 days holiday plus bank holidays – with the opportunity to purchase additional holidays
8. Life assurance
9. Income protection
10. Cycle2Work Scheme
11. Discounts & perks platform
12. Employee wellbeing
How you'll make an impact
Regulatory Compliance & Oversight
13. Ensure OFL maintains its standing as an authorised EMI by meeting all regulatory expectations and requirements in the UK, acting as the primary point of contact for the regulator.
14. Manage regulatory exams, interventions, and regulatory reporting with transparency and professionalism.
15. Execute statutory duties regarding AML, Financial Crime, and Anti-terrorism. Conduct Financial Crime Risk Assessment (FCRA). Ensure Suspicious Activity Reports (SARs) are handled with high judgement, speed, and absolute independence.
16. Take formal ownership of OFL’s involvement in the Annual Compliance Testing & Oversight Plan. Work closely with the Testing team and control owners to review findings, ensuring that identified gaps are remediated and that OFL's policies and procedures remain compliant.
17. Act as the primary lead for relevant Compliance and AML internal audits. Provide necessary evidence, support the audit process, and proactively lead the implementation of audit recommendations to closure.
18. Responsible for the end-to-end documentation and timely submission and presentation of the quarterly Risk & Compliance Reports to the OFL Board.
19. Lead the annual review and Board-level approval of the OFL Governance Structure, including policies and designing and delivering the annual Board Training Plan and schedule.
20. Own the OFL Fitness and Propriety Policy and Procedures including the coordination of fitness and suitability reassessments and EMD approval and removal, including all regulatory engagement.
21. Maintain the OFL ‘Compliance Universe’ and conduct weekly horizon scanning and internal risk assessments. Support the Regulatory Legal team and proactively contribute to the Global Regulatory Tracker.
Risk Management Framework
22. Support the Risk Management Framework, ensuring that risk controls and exposures are balanced against OFL’s Risk Appetite Statement (RAS).
23. Work closely with the Finance and Operational Resilience leads to ensure safeguarding governance and wind-down planning are robust, compliant, and regularly tested.
24. Navigate the WEX global matrix with confidence. Ensure local UK requirements are respected and prioritised while aligning with global Corporate Compliance and Data Privacy standards.
25. Execute the annual review of outsourcing criticality and risk assessments.
Strategic Leadership & Business Partnership
26. Work collaboratively alongside the International Compliance and Regulatory Legal teams. Actively participate in global projects, provide peer support, and share best practices across regions.
27. Proactively identify opportunities for process improvement or regulatory alignment and take the lead on executing these initiatives within the UK and across the wider group.
28. Act as a high-level advisor to the Board and Executive team, providing proactive guidance on achieving business objectives through “customer-first” solutions.
29. Identify and utilise internal technologies (including AI/LLMs) to drive innovation, introduce operational efficiencies, and enhance decision-making across all areas of the risk and compliance functions.
30. Partner with product and commercial teams to analyse innovative offerings during the proposal phase. Ensure compliance requirements are integrated "by design" before products are launched to customers.
Experience you'll bring
31. Experience in risk, compliance, or legal within the financial services sector (EMI or Payment Institution experience is highly preferred).
32. Proven ability to manage complex testing plans and lead successful audit outcomes within a regulated environment.
33. Demonstrated ability to effectively coordinate with global colleagues and influence Board-level stakeholders in a matrixed environment.
34. Degree in management, economics, law, or equivalent professional experience. AML/KYC, or Compliance-related certification (e.g., CAMS, ICA) is expected.
Skills & Competencies
35. Comfortable working in a multi-jurisdictional environment and supporting international colleagues.
36. A demonstrable ability to adopt and champion new tools (e.g., Gemini, Tableau, Salesforce) to streamline compliance workflows and reporting.
37. Highly comfortable working independently and making high-stakes decisions in a fast-paced environment.
38. Ability to see the ‘big picture’ and provide solutions that balance commercial growth with regulatory compliance.
Other Requirements
39. Must be a UK resident and legally permitted to work in the UK.
40. This is an EMD role and is subject to formal approval/non-objection by the FCA.
41. Must adhere to OFL’s Fitness and Propriety Standards and the WEX International Fitness and Probity Policy.
What's next?
If you feel that you have the necessary skills for our Head of Risk & Compliance MLRO role. then please APPLY TODAY for immediate consideration.