Head of Regtech

At Banki, we’re building a professional banking solutions suite that simplifies financial and administrative activities for the 40+ million underbanked freelancers, creators, and self-employed professionals in the Arab world.. Why? Simply because traditional banking does not work for any self-employed professional.

About 9 in 10 professionals are doing freelance work in MENA and we will empower them with a professional banking solutions suite that simplifies their financial and administrative activities. Including checking accounts, virtual cards, integrated invoicing tool, and more, all done from a single mobile app.

If you join us, you’ll be a key member in helping shape:

1. Our future company culture
2. Our engineering practices
3. People that we hire
4. The direction & focus of our products

As the Head of Regtech – compliance regulations & operations, you will lead and direct the development of our regulatory & compliance strategies across our operations. You will develop compliance policy and lead the assessment, monitoring and reporting of compliance risks, investigating incidents and taking appropriate action to ensure company management is provided with a suitable and proactive second line of defense for compliance, working in close cooperation with the CEO and our banking and BaaS partners. Special attention is required for Financial Crime and integrity risks, core compliance matters, and conduct.

The Director of compliance plays a leading role in the governance of Banki; establishing control frameworks and service offerings, and is responsible for companies’ compliance with the Regulatory system, relevant local regulatory requirements, and standards as applicable to the company's branch network. The Head of Regtech maintains contact with the regulator & BaaS partner on compliance matters and provides support and oversight network and subsidiaries.

Objectives of this role:

• Compliance Strategy development: Work with regional and global partners to influence compliance strategy. Set the strategy and objectives aligned to the regional regulators’ strategy
• Compliance Leadership: Design and implement, within the wider risk framework, structures and processes that integrate the principles of effective compliance into daily operations, encourage behavioral change and drive good governance across the company.
• Compliance Planning: Determine the overall priorities for Compliance, including acting as the liaison for Head Office reporting.
• Enhancing compliance awareness through regular communication and by ensuring required staff training is provided.
• Policy development: Responsible for developing and recommending a suite of policies appropriate for underpinning the ongoing governance/monitoring/challenge of the company's business performance in accordance with regulations.
• Reporting: Evaluate the current status of compliance activities through the completion of periodic heat map meetings with compliance specialists, as well as attendance at relevant meetings, and take appropriate action to address any shortfalls. Formal interaction with Management & BaaS partner
• Oversight and quality control of compliance functions involving continuous liaison; support and challenge entities’ compliance processes and behaviors.
• Monitoring and Control: Monitor processes, systems and standards of behavior across all business areas, countering the risk that the app might be exposed to in the areas of financial crime, business conduct, and governance. Identify opportunities for improvement and take action to redress shortfalls to ensure the company and as a whole is compliant with the company's key policies and identify and manage any conflicts of interest and information wall controls.
• Regional collaboration: Work in partnership with risk and compliance specialists across the region to share best practices, provide support and develop effective compliance policies and methodology appropriate to the company.
• As Data-protection officer responsible for the supervision of all activities relating to Data Protection across the business units
• Establish Banki compliance standards and design improvements to internal control structures
• Ensuring Banki KYC process is in line with country regulations to operate as a digital bank
• Assist in reviewing IT initiatives from a technology risk perspective for banking products and services.
• Identify technology risk and information security risk for digital products and services, and recommend appropriate risk mitigation measures in business-intelligible language.
• Research and evaluate the latest trends and technologies in information security and regtech area.
• Lead the Regtech projects and interpret data through various computational tools
• Prepare regular management reporting

Skills & qualifications:

• University Degree Level / Compliance qualifications – Master’s degree preferred legal or accountancy qualified preferably complemented with a postgraduate (executive master) degree in Compliance/Risk Management. Experience and/or certification in combating Financial Crime are a strong preference.
• Over 7 years of experience in IT security, technology risk, risk management, compliance or IT audit function in a complex regional environment
• Extensive relevant industry experience with a deep conceptual understanding of Regulatory Compliance, Anti Money Laundering, establishing control frameworks, and leading on good governance within global environments.
• Strong financial background and experience in lending, loan review, and compliance
• Proven experience in maintaining a good relationship with regulators.
• Significant experience in leading at a senior level, interpreting and delivering against strategic objectives.
• Excellent interpersonal and communications skills with good command of Arabic & English in both spoken and written
• A good team player with strong analytical skills, numerical reasoning and troubleshooting skills, able to work under pressure

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