Deputy MLRO

Since we opened our doors in 2009, the world of commerce has evolved immensely, and so has Square. After enabling anyone to take payments and never miss a sale, we saw sellers stymied by disparate, outmoded products and tools that wouldn’t work together.

So we expanded into software and started building integrated, omnichannel solutions – to help sellers sell online, manage inventory, offer buy now, pay later functionality, book appointments, engage loyal buyers, and hire and pay staff. Across it all, we’ve embedded financial services tools at the point of sale, so merchants can access a business loan and manage their cash flow in one place. Afterpay furthers our goal to provide omnichannel tools that unlock meaningful value and growth, enabling sellers to capture the next generation shopper, increase order sizes, and compete at a larger scale.

Today, we are a partner to sellers of all sizes – large, enterprise-scale businesses with complex operations, sellers just starting, as well as merchants who began selling with Square and have grown larger over time. As our sellers grow, so do our solutions. There is a massive opportunity in front of us. We’re building a significant, meaningful, and lasting business, and we are helping sellers worldwide do the same.

The Role

Square is looking for a Deputy Money Laundering Reporting Officer (MLRO) to join our team in the UK, who will be a report to the UK Head of Compliance & MLRO

You will help drive the implementation of compliance controls, processes and required operations under the regulatory and AML/CTF programmes. You will be an integrated part of our global Compliance team, leveraging the broader organisation and resources to ensure that we maintain an effective AML/CTF programme and meet all our regulatory compliance obligations. This role is essential to Square’s success in the UK and will work with colleagues across Compliance, Legal, Payments and Industry Relations, Finance, Risk, Internal Audit, Product, and Sales and Marketing.

Note that we offer remote working within the United Kingdom. This role must be based in the UK. 

You Will

• Support the UK Head of Compliance & MLRO in all aspects of the UK Compliance Program.
• Develop AML and financial crime processes, and ensure the implementation and appropriate controls that reflect business and regulatory requirements.
• Facilitate risk-based Know Your Customer and Transaction Monitoring programmes to detect unusual activity and investigate and report suspicious activity in accordance to regulatory requirements
• Ensure accurate responses and reports to the Regulator.
• Help oversee the operations of the UK Compliance team, including training, capacity planning, tracking team and individual Key Performance Indicators (KPIs), and Key Risk Indicators (KRIs) for the programme
• Work with all relevant partners, financial institution partners, card networks and regulatory authorities
• Help Identify potential areas of compliance vulnerability and develop/implement pragmatic corrective action plans.
• Conduct compliance review and analysis of new regulatory developments and maintain oversight of developments affecting business activities
• Prepare reports to senior management and Board of Directors to communicate all relevant compliance issues and escalate any important or high risk compliance issues
• Assist the wider European team with AML and regulatory compliance advisory
• Work with internal compliance teams (such as Governance, Product Advisory, Quality Control) to identify clear steps necessary to avoid regulatory risks and provide solutions

You Have

• 5 + years of experience in a complex, financial services firm, or related e-money/payments industry.
• Similar experience in Senior AML role or as a Deputy MLRO
• The ability to exercise oversight, knowledge, and understanding of financial crime and AML policies, procedures, and control arrangements in a complex financial operation
• Extensive experience about requirements and the practical application of regulatory compliance and Anti-financial crime regulations. 
• Operational knowledge in running a sound compliance programme, with hands-on knowledge and an understanding of regulatory requirements for the UK
• Demonstrated ability to communicate effectively with senior management and third-party stakeholders
• Ability to build collaborative working relations with peers, colleagues and with remote based teams with individuals at all levels of the organisation
• Experience with data visualisation tools

Benefits:

• Health insurance
• Pension
• Life insurance
• Income Protection insurance
• Cash Plan Scheme
• Wellness Allowance
• Annual Leave and Flexible Time Off