Candidate Specification – Head of Compliance & Operations (SMF16 / SMF17 & MLRO)
Location: UK Remote
Sector: FinTech / Digital Banking
Stage: VC-backed, high-growth
Overview
We are partnering with a high-growth, VC-backed FinTech on a confidential search for a Head of Compliance & Operations, who will also hold SMF16 (Compliance Oversight) and SMF17 (Money Laundering Reporting Officer) responsibilities, subject to regulatory approval.
This is a critical leadership hire at a pivotal stage, as the firm progresses through its UK banking licence application and mobilisation journey. The successful candidate will be instrumental in designing and embedding a best-in-class compliance, financial crime, and operational infrastructure that meets the expectations of both the Financial Conduct Authority and the Prudential Regulation Authority.
This role requires a hands-on leader who can operate strategically while building from first principles in a fast-scaling environment.
Key Responsibilities
Regulatory & Compliance Leadership (SMF16)
- Assume SMF16 – Compliance Oversight responsibilities, ensuring the firm meets all applicable regulatory obligations.
- Lead the design, implementation, and continuous improvement of the compliance framework in line with Financial Conduct Authority and Prudential Regulation Authority expectations.
- Play a central role in the banking licence application and mobilisation process, including regulatory business plans, ICAs, and governance documentation.
- Act as a key point of contact with regulators, managing relationships with transparency and credibility.
- Oversee regulatory reporting, monitoring, and assurance activities.
Financial Crime & MLRO Responsibilities (SMF17)
- Act as the firm’s Money Laundering Reporting Officer (MLRO) and hold SMF17 accountability.
- Design and maintain robust AML/CTF frameworks, including policies, controls, and monitoring systems.
- Oversee Suspicious Activity Report (SAR) processes and act as the primary liaison with the National Crime Agency.
- Ensure effective KYC, customer due diligence (CDD/EDD), transaction monitoring, and sanctions screening processes are in place.
- Provide regular reporting to the Board and regulators on financial crime risks and controls.
Operational Leadership
- Build and scale core operational functions, including customer onboarding, payments operations, and service delivery.
- Design scalable, controlled processes that balance customer experience with regulatory compliance.
- Establish outsourcing and third-party risk management frameworks in line with regulatory expectations.
Risk & Governance
- Develop and embed enterprise-wide risk management frameworks, including risk appetite, controls, and reporting.
- Establish governance structures, including Board and committee reporting aligned to SMCR requirements.
- Ensure clear allocation of prescribed responsibilities and accountability across senior management.
Strategic Contribution
- Partner with the CEO, Board, and investors to align regulatory strategy with commercial objectives.
- Provide pragmatic, commercially aware input into product development and market expansion.
- Support investor due diligence, regulatory readiness, and capital raising activities.
Team Leadership
- Build and lead a high-performing compliance, financial crime, and operations function.
- Promote a strong culture of compliance, risk awareness, and ethical conduct across the organisation.
Candidate Profile
Experience
- 10+ years’ experience in compliance, financial crime, and/or operations within financial services or FinTech.
- Prior approval (or readiness for approval) as SMF16 and/or SMF17 (MLRO) in the UK.
- Direct experience supporting or leading a UK banking licence application or mobilisation phase is highly desirable.
- Experience in a high-growth FinTech or digital banking environment strongly preferred.
Regulatory Expertise
- Deep understanding of UK regulatory frameworks governed by the Financial Conduct Authority and Prudential Regulation Authority.
- Strong expertise in AML/CTF, financial crime prevention, and regulatory compliance frameworks.
- In-depth knowledge of SMCR, including prescribed responsibilities and governance expectations.
Operational Capability
- Proven ability to build and scale operational processes and control frameworks from the ground up.
- Experience implementing systems for KYC, transaction monitoring, and regulatory reporting.
Leadership & Communication
- Demonstrated ability to operate at Board level and engage effectively with regulators.
- Strong leadership capability with experience building and managing high-performing teams.
- Clear, confident communicator with sound judgment and decision-making ability.
…