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Head of Risk & Compliance and MLRO
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Head of Risk & Compliance and MLRO
Head of Risk & Compliance and MLRO
Location: London (Hybrid) Salary: £90,000 - £95,000 per annum (dependant on experience) Bonus: Annual company bonus Contract: Permanent (40-hour work week, Monday–Friday)
About the Team & Role
The Head of Risk & Compliance and MLRO (UK) will direct the strategic and operational oversight of Risk & Compliance within Optal Financial Limited (OFL), WEX’s authorised Electronic Money Institution (EMI) in the UK, regulated by the Financial Conduct Authority (FCA).
OFL supports WEX’s Corporate Payments division, specialising in issuing virtual cards for corporate transactions, and serves some of the world’s largest Online Travel Agents (OTAs).
As a key EMD (chaperoned individual), this role requires a proactive manager who enhances regulatory processes using internal tools—including AI and data analytics—while ensuring OFL’s UK operations comply with both local regulations and global WEX standards. Reporting to the Senior Director – Head of Regulated Entities EMEA, you will lead both local compliance and global compliance alignment, driving strategic initiatives across risk, AML, financial crime, and governance.
What’s On Offer
- Highly competitive salary: £90,000–£95,000 (dependent on expertise)
- Annual company bonus
- Hybrid working model (ad-hoc meetings in London Bridge office)
- 40-hour work week (Monday–Friday)
- Industry-leading pension scheme
- Private Medical Insurance
- 25 days’ holiday (+ bank holidays) (with potential for extra leave)
- Life assurance & Income protection
- Cycle2Work Scheme
- Discounts & perks platform
- Employee wellbeing support
How You’ll Make an Impact
Regulatory Compliance & Oversight
- Ensure OFL maintains its EMI licence and fulfils FCA regulatory obligations.
- Serve as the primary liaison with the FCA, managing reports, exams, and interventions with transparency and professionalism.
- Lead financial crime compliance, including:
- Conduct Financial Crime Risk Assessment (FCRA).
- Ensure Suspicious Activity Reports (SARs) are handled with judgement, speed, and total independence.
- Oversee Annual Compliance Testing & Oversight Plan, collaborating with internal teams to mitigate risks and remediate gaps.
- Act as primary lead for all AML and Compliance audits, supporting the audit process and embedding recommendations.
- Produce and submit quarterly Risk & Compliance Reports to the OFL Board.
- Apparatus for annual Governance Structure review & Board Training Plan, ensuring robust policies and training align with FCA expectations.
- Own Fitness & Propriety standards, including employee reassessments, EMD approvals/removals, and regulatory reporting.
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Risk Management Framework
- Ensure alignment with OFL’s Risk Appetite Statement (RAS), balancing controls with business exposure.
- Collaborate on safeguarding, operational resilience, and wind-down strategies.
- Help navigate WEX’s global matrix, ensuring UK regulatory compliance does not conflict with international standards.
- Conduct annual outsourcing risk assessments and decisions.
Strategic Leadership & Business Partnership
- Partner with International Compliance & Legal teams to share best practices and implement global improvements.
- Drive fit-for-purpose compliance solutions, leveraging AI/LLM tools for process efficiency.
- Cooperate with product and commercial teams to integrate compliance into new offerings by design.
- Provide proactive guidance to the Board and Executive Leadership on risk vs. commercial growth.
- Align local regulations with global compliance and data privacy frameworks.
Experience You’ll Bring
- 10+ years of finance, risk, or compliance experience in financial services, with a preference for EMIs, Payment Institutions, or corporate payments specialisation.
- Proven auditing capability: experience in formulating testing plans and driving audit remediation day-to-day.
- Ability to work in a global matrix of stakeholders, influencing Board-level decision-making.
- Education: Degree in Law, Economics, or Management, or equivalent professional experience.
- Certifications: AML/KYC or compliance qualifications such as CAMS or ICA highly desirable.
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Skills & Competencies
- Comfortable leading across UK/EU/global jurisdictions while prioritising local demands.
- Tech-savvy: Champion AI/Gemini, Tableau, Salesforce, and other analytical tools to enhance compliance workflows.
- Highly self-driven, able to make critical, high-pressure reports independently.
- All-round thinker: Balances growth objectives with regulatory compliance without losing sight of business needs.
- Strong communication and collaborative skills in a diverse and internationalised team.
Other Requirements
- Must be a UK resident and authorised to work lawfully in the UK.
- This is a FCA-chaperoned EMD role requiring approval/non-objection.
- Conduct must align with OFL’s Fitness & Propriety Standards, as well as WEX’s International Fitness & Probity Policy.
Ready to Apply?
Apply today for immediate consideration of your Head of Risk & Compliance & MLRO role.
WEX is an equal opportunities employer—applications are welcome from all backgrounds without discrimination based on race, sex, disability, religion/belief, sexual orientation, or age.
Applications may not receive an individual response due to high volume. Shortlisted candidates will be notified within one week of submission. No speculative agency CVs accepted. All CVs are treated as gifts and ineligible for agency fees. Authorised recruitment agencies should direct applications only to the Talent Acquisition team.
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