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About the 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), an authorised Electronic Money Institution (EMI) regulated by the Financial Conduct Authority (FCA). This role acts as a strategic partner, ensuring OFL maintains its 'Mind and Management' in the UK while aligning with WEX's global standards. The successful candidate will enhance regulatory processes using internal tools, including AI and data analytics, and contribute to strengthening the firm's global compliance posture.

Responsibilities

Ensure OFL meets all regulatory expectations and requirements as an authorised EMI.
Manage regulatory exams, interventions, and reporting.
Execute statutory duties regarding AML, Financial Crime, and Anti-terrorism.
Conduct Financial Crime Risk Assessment (FCRA).
Handle Suspicious Activity Reports (SARs) with judgement, speed, and independence.
Own OFL’s involvement in the Annual Compliance Testing & Oversight Plan.
Review findings with the Testing team and control owners, ensuring remediation of identified gaps.
Act as the primary lead for relevant Compliance and AML internal audits.
Provide necessary evidence and support for audits, leading the implementation of recommendations.
Oversee the documentation and submission of quarterly Risk & Compliance Reports to the OFL Board.
Lead the annual review and Board-level approval of the OFL Governance Structure, policies, and the annual Board Training Plan.
Own the OFL Fitness and Propriety Policy and Procedures, including reassessments and EMD approvals/removals.
Maintain the OFL ‘Compliance Universe’ and conduct weekly horizon scanning and internal risk assessments.
Support the Regulatory Legal team and contribute to the Global Regulatory Tracker.
Support the Risk Management Framework, balancing risk controls and exposures against OFL’s Risk Appetite Statement (RAS).
Ensure safeguarding governance and wind-down planning are robust, compliant, and tested.
Align local UK requirements with global Corporate Compliance and Data Privacy standards.
Execute the annual review of outsourcing criticality and risk assessments.
Collaborate with International Compliance and Regulatory Legal teams.
Participate in global projects, provide peer support, and share best practices.
Identify opportunities for process improvement or regulatory alignment and lead their execution.
Advise the Board and Executive team on achieving business objectives through customer-first solutions.
Utilise internal technologies (including AI/LLMs) to drive innovation and operational efficiencies.
Partner with product and commercial teams to integrate compliance requirements into new offerings by design.

Requirements

Experience in risk, compliance, or legal within the financial services sector (EMI or Payment Institution experience highly preferred).
Proven ability to manage complex testing plans and lead successful audit outcomes within a regulated environment.
Demonstrated ability to effectively coordinate with global colleagues and influence Board-level stakeholders in a matrixed environment.
Must be a UK resident and legally permitted to work in the UK.
This is an EMD role and is subject to formal approval/non-objection by the FCA.
Must adhere to OFL’s Fitness and Propriety Standards and the WEX International Fitness and Probity Policy.

Skills

Risk Management
Compliance Management
MLRO Duties
Regulatory Oversight
AML/Financial Crime
Risk Assessment
Audit Management
Governance Structure
Board Reporting
Fitness and Propriety Assessments
Horizon Scanning
Risk Management Framework
Operational Resilience
Data Privacy
Strategic Leadership
Business Partnership
AI/LLM Utilisation
Process Improvement
Cross-functional Collaboration
Stakeholder Management
Decision Making
Problem Solving
Adaptability
Comfortable working in a multi-jurisdictional environment
Ability to adopt and champion new tools (e.g., Gemini, Tableau, Salesforce)
Highly comfortable working independently in a fast-paced environment
Ability to see the ‘big picture’
Balancing commercial growth with regulatory compliance

Location

London

Work Type

Hybrid
Permanent
Full-time

Experience Level

Head of
Leadership

Education Level

Degree in management, economics, law, or equivalent professional experience.
AML/KYC, or Compliance-related certification (e.g., CAMS, ICA) is expected.

Salary/Compensations

£90000-£95000

Benefits

Annual company bonus
40 hour week
Industry Leading pension scheme
Private Medical
25 days holiday plus bank holidays
Opportunity to purchase additional holidays
Life assurance
Income protection
Cycle2Work Scheme
Discounts & perks platform
Employee wellbeing

About the Company

WEX is a global commerce platform that helps businesses solve for operational complexities like employee benefits, managing and mobilizing fleets, and streamlining payments.
With over 6,500 employees, WEX works with large and small companies in more than 200 countries and territories.
WEX hires people who share a passion for continuous innovation and unparalleled client service.
Offering comprehensive and market competitive benefits designed to support personal and professional well-being.

Equal Opportunity

We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation, or age.
WEX is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, sexual orientation, gender identity, protected veteran status, disability or other protected status.
WEX promotes a drug-free workplace.
Qualified individuals with a disability have the right to request a reasonable accommodation.