WEX
Head of Risk & Compliance and MLRO
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Head of Risk & Compliance and MLRO
Head of Risk & Compliance and MLRO / London / Hybrid / £90,000–£95,000 / Annual Bonus / Benefits
About the Role
The Head of Risk & Compliance (MLRO, UK) at Optal Financial Limited (OFL)—WEX’s authorised Electronic Money Institution (EMI) in the UK—is a critical leadership position. Reporting to the Senior Director – Head of Regulated Entities EMEA, the role involves setting the strategic direction and managing the day-to-day operations of the risk and compliance function for OFL.
OFL operates on a Business-to-Business (B2B) model, specialising as an issuer of virtual cards for corporate transactions. It directly supports WEX’s global Corporate Payments division and serves as a key payments provider for some of the world’s largest Online Travel Agents (OTAs).
As a key EMD Individual, the Head of Risk & Compliance must:
- Act as a strategic partner to local and global business units
- Ensure UK regulatory oversight ("Mind and Management") while aligning with WEX’s global standards
- Apply a proactive ‘self-starter’ mindset and leverage internal tools (AI, data analytics) to enhance regulatory processes
Beyond local governance, this role also contributes to WEX’s International Compliance Team, identifying and driving global compliance improvements.
Benefits
- Salary: £90,000–£95,000 (depends on experience)
- Annual bonus
- 40-hour workweek
- Hybrid model (primary focus on London Bridge office for ad-hoc meetings)
- Industry-leading pension scheme
- Private medical insurance
- 30+ days holiday (25 days + bank holidays, with option to purchase extra)
- Life assurance
- Income protection
- Cycle2Work Scheme
- Discounts & perks platform
- Employee wellbeing support
Key Responsibilities: Regulatory Compliance & Oversight
As the primary regulator-facing contact, you will:
- Ensure OFL remains compliant with FCA requirements to maintain its authorised EMI status, including:
- Agile responses to regulatory exams, interventions, and reporting
- Robust execution of AML/CFT (Anti-Terrorism Financing) and Intelligence-led compliance duties
- Conduct & oversee Financial Crime Risk Assessments (FCRA) with strict judgement and independent decision-making
- Manage Suspicious Activity Reports (SARs) with speed and absolute integrity
- Drive the Annual Compliance Testing & Oversight Plan with testing teams, closing gaps and updating policies
- Cherish Compliance & AML internal audits, delivering end-to-end support—from evidence provision to audit recommendation closure
- Author & present quarterly Risk & Compliance Reports to the Board
- Lead the annual governance structure review, policy development, Board training planning, and Fitness and Probity Policy oversight
- Conduct internal risk assessments and weekly horizon scanning to maintain OFL’s compliance strategy (the ‘Compliance Universe’)
- Collaborate with the Regulatory Legal team and Global Regulatory Tracker
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Key Responsibilities: Risk Management Framework
- Support WEX’s Risk Management Framework to align controls with OFL’s Risk Appetite Statement
- Oversee Finance and Operational Resilience departments to ensure safeguarding and wind-down plans are compliant and well-tested
- Navigate the WEX global regulatory matrix—balancing British priorities with corporate compliance/data-privacy standards
- Annually assess outsourcing risk to maintain critical operations
- Ensure proper mitigations for third-party exposures
Responsive Strategic Leadership & Business Partnerships
- Partner with International Compliance and Regulatory Legal teams, engaged in joint projects
- Scale EE compliant process improvements via integrated innovation tools (AI/LLMs) to drive efficiency
- Act as an advisor to senior leadership, offering board-level strategic guidance rooted in compliance-by-design
- Speak to the internal politics between product/commercial teams—integrating compliance into product lifecycles (e.g., pre-launch vetting)
Key Requirements: Experience & Certifications
- 10+ years in financial services, specialising in risk, compliance, or criminal investigation, with EMI/Payment Institutions experience preferred
- Degree-level education in law, economics, or management (or equivalent professional experience)
- Proven track record:
- Defining and implementing audit testing frameworks and singing real results
- Managing a global matrix, influencing cross-regional stakeholders effectively
- AML/KYC/Compliance-related certifications (e.g., CAMS, ICA) are mandatory
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Competencies & Requirements
- Multi-jurisdictional fluency: Comfortable supporting colleagues globally while prioritising UK regulatory standards
- Technological adaptability: Proficient in emerging tools (e.g., AI/Generative AI, Tableau, Salesforce) to streamline workflows
- Independent influence: Ability to make high-risk/high-impact decisions under pressure
- ‘Big-picture’ perspective: Balancing growth objectives with regulatory oversight to inform intent data capture
- UK residency & work eligibility: Must adhere to OFL’s Fitness and Propriety Standards as an EMD role.
PSL Agencies: Key Details
Meeting requirements:
- This role is regulated by the FCA and therefore subject to formal EMD approval.
- No speculative consignment from agencies without explicit WEX authorisation.
Any CV WEX receives is treated as a gift and ineligible for reciprocation of fees or amendments after selection.
About WEX
WEX helps businesses streamline complex functions like:
- Backend payments (B2B)
- Employee benefits & mobility solutions
- Verified-carbon procurement via WEX carbon line*
Operates in 200+ countries & territories, with a focus on executing ultra-clean compliance policy posture.
The platform of choice for Fortune 500 companies to executions via embedded payment use workshops.
Equality & Workforce Commitments
- Equal opportunities employer: No discrimination based on race, sex, disability, religion, sexual orientation, age, etc.
- Shortlisted candidates contacted in under one week (due to volume, individual responses dismissed)
- Drug-free workplace policy firmly followed
Disability access: Please [submit reasonable accommodation requests here].
Ready to apply?
WEX is pursuing a culture of innovation and compliance excellence with inspiring policies. Now is the moment to channel your compliance acumen into a high-impact role. ─WEX Corporate Team.
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