Are you curious, excited by experimentation and always looking for a better way of doing things?   

Do you want to keep learning and developing whilst getting hands-on experience working in the embedded payments space?  

Would you like to lead Modulr's European Risk and Compliance function and play a key role in our expansion plans for Europe?

If so, we would love to hear from you! 

About us 

At Modulr our mission is to move money efficiently to power business productivity. We are building a new digital payments service to make money flow more efficiently through businesses and the economy. This is a new type of payments account that is built for businesses that need faster, easier and more reliable ways to move money.

Our flexible platform and innovate approach allows our customers to utilise our payments account instead of a traditional bank account. Our accounts come with a sort code and account number, access to payment systems (eg Faster Payments and Visa) and everything our customers need from a payments account. They can instantly open as many accounts as they need, automate how they make and receive payments as well as the reconciliation processes these create. All in real time, 24/7 through their own systems utilising our API that integrates into any platform.

Our founding team has a wealth of experience in the payments industry and growing successful businesses. Modulr is backed by payments giants PayPal Ventures and FIS Ventures, as well as startup and scale up specialists Blenheim Chalcot, General Atlantic, Frog and Highland Europe which enables us to leverage their resources and expertise to drive our growth initiatives. These partnerships provide us with the necessary provisions to propel our business to new heights.

Modulr values

• Building the extraordinary and going that extra mile
• Owning the opportunity, be passionate and proud of the time you invest
• Move at pace, reach your goals faster with us supporting you each step of the way
• Achieve it together, working as a team and being Modulite

The role  

Key responsibilities 

The Head of Risk and Compliance, Europe is a vital role within Modulr and will play a significant role in leading and shaping our European Risk and Compliance landscape. The role covers: 

 MLRO:  

• Ensure the adequacy and effectiveness of the Financial Crime programme for the European business, including supporting systems and controls. 

Compliance programme:  

Responsible for all aspects of compliance reporting across Europe, including: 

• Completing regulatory returns. 
• Being the key relationship contact for the DNB and other European regulators. 
• Overseeing the preparation of monthly compliance reports. 
• Presenting to the Management Board quarterly on risk and compliance items, including any recommendations. 

Develop and maintain a positive compliance culture across the region:  

• Establish and maintain strong relationships with key stakeholders across the business.  
• Train and support business areas as required, rectifying issues as they arise.  
• Promote a culture of compliance throughout the region. 

Ensure compliance with relevant regulation and best practice:  

• Build relationships with regulators and ensure all regulatory obligations and expectations are met.  
• Identify, understand, and communicate relevant regulatory changes and ensure policies and procedures are updated to reflect and are monitored to ensure they are effective in practice.  
• Develop and maintain a hierarchy of policies and procedures to ensure compliance, ensuring policies and procedures are in-line with group requirements and are reviewed at least annually.  
• Monitor the operational compliance services (e.g., Transaction Monitoring) provided by Group to ensure they meet service standards and local regulatory requirements.  

Risk Management:  

• Take ownership for the European Risk and Compliance agenda as well as the Audit and Risk Committee for Modulr Europe 
• Support and perform quality assurance on the Group compliance monitoring programme and ensure key compliance risks are adequately addressed.  
• Manage the risk identification, quantification, and control effectiveness measurement framework for the European business.  
• Create and maintain policies and procedures to mitigate and manage identified risks
• Ensure policies and procedures are implemented effectively and work in practice, and where there are shortcomings in the risk management policies and procedures that these are identified with improvement measures established and implemented
• Regularly report risks, risk limitations and risk management to local and Group boards.  
• Support annual risk appetite assessment, design key risk indicators, early warning indicators, and risk response strategies.  
• Own the development and periodic production of European Risk & Compliance KPI (key performance indicators) reports to be shared with local and Group Boards to understand how the organisation’s risk strategy is working in comparison to established tolerance levels, whether objectives are being achieved and to identify possible modifications to the risk strategy.  
• Oversee business unit testing and monitoring of risks and controls.  

European expansion:  

• Lead on the Risk and Compliance needs of Modulr’s European expansion - including the identification of requirements, leading on the implementation, and managing stakeholders to ensure timely delivery of regulatory, compliance and risk aspects. 

Specific duties 

You will need to be comfortable doing the following: 

• Share and set best practice with Group Compliance and Risk supported by a robust governance framework.  
• Drive a strong Risk & Compliance culture across the business.  
• Work with outsourced services from Group ensuring consistent high standards of operational delivery.  
• Build strong working relationships with external stakeholders including industry bodies, regulators, and law enforcement agencies.  

The team

Join a dynamic team, based in Amsterdam. The team works closely with the rest of the Modulr Group in the UK and Mumbai. This role will report into the General Manager, Europe; with a dotted line to the UK Compliance function.  

About you

The successful Head of Risk and Compliance, Europe will have a track-record in delivering results in a fast-moving business and hence be comfortable with change and uncertainty. Excellent stakeholder management experience is essential to being successful in this role. 

The ideal candidate 

• Strong record of accomplishment running a compliance and/or risk function in financial services (advantageous to have payments / EMI experience).  
• Experience dealing with the De Nederlandsche Bank (DNB) with an understanding of the broader EU regulatory environment.  
• A clear understanding and relevant experience to perform the role of MLRO.  
• Ability to adapt to and lead through fast-paced, high-growth environments.  
• A collaborative approach and strong influencing skills.  
• Good problem solving skills 
• Be able to think strategically, lead thought leadership initiatives, and execute on the details. 
• Excellent oral and written communication skills.  
• Languages: Dutch & English – essential; French and/or Spanish advantageous. 
• Excellent stakeholder management. 

What can Modulr offer you 

You will be part of a cross disciplinary team(s), with co-workers located in Edinburgh, London, Amsterdam and/or Mumbai. We are friendly and sociable, challenging but rewarding. We want you to push yourself and for us to support you in your future as we scale up and grow. Our culture and values are putting you first and are about investing in your future.  

• Share Options Incentive Scheme 
• Company Bonus - the more successful we are together, the more company bonus we offer 
• Learning Opportunities – on joining Modulr you will embark on our 3-day onboarding programme to be equipped with the Modulr know-how and arm you with the tools you need to be successful from day 1! But we do not want your learning to stop there so we will continue to provide you with the tools and capabilities through our learning channels and platforms to allow you to grow and develop in Modulr. Modulr hands-on - join your colleagues for our company wide events throughout the year. 
• Great workspace - Modulr thrives on innovation which is best done through in-person collaboration. This approach enables us to work together closely, exchange ideas, and create innovative solutions that drive our success. We’re office first and have invested in state of the art offices located in WeWork in Edinburgh, ScaleSpace in London, and WeWork in Amsterdam.

ModInclusion  

We believe that by seeing Modulr, and the world, from all sorts of angles, we can make life better for all.​ We want you to know that the things that make you, you — like your identity, age, ability, and background — are things that we will always celebrate and support with open arms.  As such, we are keen to maximise the diversity of our workforce and actively encourage applications from anyone and everyone. 

If you are interested to find out more please apply or reach out to Gordon Hutchison in the talent team to find out more.