Introduction
Here at Fnality, we are powering the future of finance, together: combining best in class technology with free-flowing creativity, and expertise that can make business better for everyone. There are no precedents for what we're doing. With you on our side, we'll be setting new ones every day.
The Risk & Compliance Manager role
This role is fundamental to the success of the Fnality Services team as we propel towards the launch of our Fnality payment system. Our culture is fast-moving, so we’re looking for someone who is super organised, confident using technology along with having laser focus whilst balancing multiple priorities.
You will be reporting into the Chief Risk Officer within the 2nd Line of Defence team.
The main outcomes of the role are
- Work in a regulated environment, with direct responsibility for overseeing the management of operational and technology risks of the Fnality Payment Operations and Systems.
- Promote a risk culture that is embedded in policies, processes and procedures of the company (Operations, Technology, Security, Personnel, Environment etc.)
- Oversee embedding of the new risk and control management framework for Fnality Services, ensuring compliance with regulatory expectations.
- Influence and provide robust challenge to the 1st Line of Defence on controls effectiveness for payment operations, technology processes and data management
- Maintain and improve the risk and control assessment management process for Fnality Services to ensure risks are identified, analysed, evaluated and managed effectively.
- Build and maintain effective relationships with key stakeholders within the Fnality legal entities.
- Manage, alongside the Fnality risk teams, the successful operation of risk framework, oversight and stewardship within Fnality Services.
- Manage GRC solution rollout across Fnality Services functions and teams to implement risk and controls assessments, issues management and continuous monitoring.
Your main responsibilities will include (but are not limited to)
- Managing and monitoring the risks associated with outsourced functions to assure the level of service required to manage a systemically important payment system.
- Reporting on the risk management of Fnality Services internally (e.g. to the CRO, CEO) and externally (e.g. to the regulators), building effective working relationships with them.
- Understanding relevant regulations and requirements and policies applicable to Fnality and the broader industry we operate in.
- Taking a hands-on approach to staying informed, provide insight and guidance to the internal team.
- Provide critical updates to regulators/customers and other external stakeholders.
- The day-to-day running and continuous improvement of the Fnality Risk System for Fnality Services and its associated ecosystem. This includes the risk model (structure and content), the risk activities (Identification, Assessment, Control Evaluation, Monitoring and Reporting) and efficacy of mitigations to the Board and regulators.
- Supporting the effective running of the risk governance framework within Fnality Services (e.g. risk committee), working closely with the other lines of defence in our three lines of defence risk management model.
- Ensuring compliance with the Operational Resilience directives from the Bank of England as they apply to Financial Market Infrastructures and broader global standards e.g. those set by BIS/FSB etc.
- Ensuring a robust change management process with adequate risk assessment before and after the change or software development life cycle.
Required competencies
- Financial services regulatory compliance or operational risk experience and expertise, preferably gained in a payment's environment.
- Strong understanding of the relevant regulations applicable to Fnality Services, (e.g. the Principles for Financial Market Infrastructures and CHAPs Reference Manual) and the broader trends that inform them.
- Understanding what good risk management looks like and the ability to help shape the embedding of a new framework and potentially risk management system.
- Experience of establishing and implementing operational processes and risk management systems from the ground up. Experienced in maturing these to meet evolving regulatory and business requirements.
- Experience working closely with customers (Tier 1 Banks, Central Banks) on participant support issues and supporting the delivery of 24x7 availability of platforms.
- Has a good understanding of payments and settlement in the traditional financial infrastructure and a basic understanding of the principles of DLT and blockchain technology.
- A good understanding of how CHAPS and High Value payment systems work including a good understanding of settlement risk / finality / SWIFT.
- Flexibility in approach to ways of working, open mindedness with regards to ambiguity as well as ability to be comfortable with a fast-paced environment and rapidly changing priorities.
- Strong communication skills to influence on the importance of risk and compliance to your colleagues and other stakeholders.
Nice to have
- FinTech or Start-Up Experience.
What can we offer
As well as the opportunity to make this role your own and really shape the future of Fnality, we offer a market leading compensation package which includes (but not limited to):
- Remote First environment with a central London office for those who want it.
- Pension scheme with Royal London (5% Company contribution).
- Private Medical Insurance with BUPA.
- 25 Days Annual Leave + 8 Swappable Public Holidays.
- Quarterly paid Wellbeing days + Birthday off.
- Health cash plan covering dental, optical and more.
- 24/7 confidential employee helpline.
- Values and Outcomes way of working (flexibility).
- Once in a generation opportunity to shape a dynamic blockchain start-up on the cutting edge of fin-tech.
Our values
We embrace diversity and equal opportunity and are committed to building a team that not only shares our values but represents a variety of backgrounds, perspectives, and skills. The more inclusive we are, the better we will be as individuals and as a team. Please talk to us about your ideal working arrangements and how we can enable you to bring your best and support our success.
Eligibility
This role is a UK based role, and you must be eligible to work in the UK. Please note we cannot sponsor visas for this role.
A bit more about us
Digital transformation is changing our lives, work and businesses. While other sectors evolve however, financial markets remain slow, fragmented and siloed. What the world needs now is a future-facing financial system for the digital age.
At Fnality, we have been speaking - and listening - to the real users of today's financial systems. From businesses to banks, there is a clear, collective ambition for a simpler, faster, safer and more resilient payment system; one that can move and settle money quickly and efficiently, with minimised risk and much more transparency.
Fnality Services Limited (Fnality Services) is the newest and first entity within the Fnality Global Payments ecosystem, the operator of a newly regulated payment system for the United Kingdom. Fnality Services operates on a Lean resourcing model, so we need people to be flexible and happy to get involved in a variety of tasks.
How will we use information about you?
We will use your personal information to process your application, to enable us to assess your suitability for a role and for other legitimate business purposes such as improving our sites and talent management practices. We may share your data with third parties to achieve these purposes. We will not use or share your information for marketing purposes.
We will take appropriate security measures to safeguard your information in accordance with data protection legislation.
If you would like further information about how your information may be processed by us, please contact us at privacy@fnality.org.
