Compliance and Risk Manager
WadzPay is a FinTech startup developing a digital currency payments platform that leverages Blockchain technology. We aim to drive financial inclusion and improve the lives of underbanked and unbanked consumers and merchants while leading the charge in the digital payments’ revolution.
The Manager, Compliance and Risk under the direct supervision of the Group’s Head of Compliance and reporting directly to the Board of the Company, is entrusted with the critical task of spearheading the compliance function of WadzPay’s UAE practices. This role calls for a robust partnership with our senior business and operational leaders to bolster our UAE operations and products. The successful candidate will be driving the strategy of risk management and compliance and act as the point of contact with the Virtual Assets Regulatory Authority (“VARA”) representing WadzPay in the UAE.
- Staying updated with the latest regulatory changes and crafting and implementing a dynamic compliance programme.
- Building and updating internal manuals, policies and procedures in adherence to the regulatory requirements.
- Designing and implementing an overall risk management process and conduct risk assessments regularly.
- Serving as the primary point of contact for VARA.
- Supporting regional licence application process through the development of necessary materials, addressing queries and coordinating regulatory responses.
- Preparing and submitting detailed quarterly compliance reports to the Board.
- Ensuring adherence to all regulatory reporting obligations and responsiveness to any regulatory engagements.
- Being responsible for coordinating with teams to handle escalations and Suspicious Transactions Reporting (“STR”) pursuant to regulatory obligations.
- Performing regulatory and AML risk assessments to reinforce internal controls and ensure compliance with regulators.
- Being the Money Laundering Reporting Officer (“MLRO”) of the Company.
- A broad understanding of regulatory requirements pertinent to regulated activities of virtual assets, such as broker/dealer, custody services and settlement and transfer.
- Extensive knowledge of the laws and regulations in the UAE and relevant experience liaising with regulators, such as the Financial Services Regulatory Authority (“FSRA”) or VARA are essential.
- Proficiency in drafting internal policies and procedures in adherence to regulatory requirements, coupled with a comprehensive understanding of business operations.
- Specialist knowledge and keen learning aptitude in relevant regulatory topics, including but not limited to financial crimes, ethics, marketing, outsourcing, conflicts of interest, and risk management.
- Exceptional oral and written communication skills, including the ability to elucidate complex regulatory issues in understandable terms for various teams and to influence senior stakeholders.
- A proactive self-starter with the ability to perform independently or collaboratively under pressure, demonstrating adaptability to changing priorities.
- Excellent leadership skills.
- Minimum 5 years of relevant experience in compliance roles within the financial services sector, preferably with exposure to payment and virtual asset spaces.
- A Bachelor’s or Master’s degree in Business, Law, Finance, Accounting, or a related field is required.
- Proven ability to work with global teams in setting appropriate compliance programs.