Compliance Manager

About Moneybox At Moneybox, our mission is to give everyone the means to get more out of life. We're guided by our belief that wealth isn't about the money, it's about the means to more - more freedom, opportunities, possibilities, and peace of mind. Moneybox is an award-winning wealth management platform, helping over one and a half million people build wealth throughout their lives, whether they’re saving and investing, buying their first home, or planning for retirement.

Job Brief

Moneybox Services Company Ltd (MBSCL) is building the next generation of financial advice: an advice service underpinned by advanced technology and the expertise of personal financial advice professionals that gives everyday people access to regulated, personalised advice across savings, investing and pensions, at a scale traditional advice has never reached. We're building MBSCL's compliance function from the ground up, and this is a chance to be part of something that could change how advice is delivered in the UK.

As Compliance Manager you'll be a core member of a small, hands-on second line team covering the full compliance remit for an advice business: advice conduct and suitability, financial promotions, complaints, SM&CR, regulatory change and reporting, and financial crime. MBSCL is independent from Digital Moneybox Limited (DML), the main Moneybox operating business, but relies on DML for its platform, the Aurora advice engine, customer onboarding and a range of shared services under an intra-group agreement. So the role has two sides: building MBSCL's own compliance activities, and providing independent oversight of what DML delivers to MBSCL.

You will report to MBSCL's Head of Risk and Compliance (SMF16/SMF17), with a dotted line into the wider Moneybox Risk and Compliance team, and you'll work closely with MBSCL's small executive team, the advice team and colleagues across the group. In your first six to twelve months you'll help stand up the function: designing the compliance monitoring and assurance programme, embedding the financial crime framework (including the reliance model with DML), setting up the core processes for financial promotions, complaints and regulatory reporting, and making sure compliance controls are right for go-live. This is a build role in a small team that will scale, so you'll have real scope to shape how MBSCL's compliance function works and to grow with it.

What you'll do

• Design and deliver a risk-based compliance monitoring and assurance programme across MBSCL's advice service, tracking findings and actions to closure, to give the Board independent assurance that MBSCL meets its regulatory obligations.

• Provide practical, timely compliance advice and challenge on the end-to-end advice journey, including fact find, suitability (COBS 9A), disclosures, charging, restricted advice and vulnerable customers, to ensure advice is suitable and delivers good customer outcomes.

• Provide compliance oversight and challenge of the advice service, including the Aurora advice engine and House Rules, and human advisers. This will include change governance, testing evidence and ongoing monitoring of advice outputs, to ensure automated advice remains suitable, explainable and within MBSCL's permissions.

• Review, challenge and approve financial promotions and customer communications, and maintain the approvals record, to ensure they are clear, fair and not misleading.

• Support the MLRO in running MBSCL's financial crime framework, including the business-wide risk assessment, policies, training, MI and suspicious activity escalation, to protect MBSCL and its customers from financial crime.

• Oversee and test the customer due diligence, screening and monitoring that DML carries out on MBSCL's behalf under the group's reliance model, working with MBSCL's co-sourced second line financial crime partner, to ensure MBSCL retains and can evidence its own responsibility for financial crime outcomes.

• Oversee DML's delivery of services to MBSCL under the inter-group agreement, monitoring service levels, issues and remediation and supporting outsourcing and third-party oversight, to evidence effective, continuing oversight of a group supplier.

• Oversee complaints handling, root-cause analysis and outcomes MI (including where DML's customer support teams act on MBSCL's behalf), and support the evidencing of Consumer Duty outcomes, to ensure customers are treated fairly and lessons are learned.

• Support the implementation and operation of SM&CR, including statements of responsibilities, certification, conduct rules and fit and proper checks, and oversee the Training & Competence scheme, to ensure the right people are competent and accountable.

• Provide compliance input to new propositions and changes, including mortgage and protection referral journeys, product governance (PROD) and permissions boundary questions, to ensure MBSCL stays within its regulatory permissions.

• Own horizon scanning, regulatory change and MBSCL's compliance policy framework (including conflicts of interest, gifts and hospitality, and whistleblowing), to keep MBSCL compliant and ahead of regulatory change.

Who you are

• You're a builder: you enjoy creating frameworks and processes from scratch, and you're comfortable with ambiguity and change in a small, fast-moving team.

• You're pragmatic and commercially aware, and know how to turn "no" into "yes, if" and find a compliant route to the right customer outcome.

• You have the confidence to challenge colleagues, including at a group supplier, with evidence, and to hold the line when customer outcomes or regulatory obligations are at risk.

• You're curious about technology and how AI can power a customer experience - including advice, and keen to learn how automated advice is designed, tested and monitored.

• You're an excellent communicator who works well across a matrix, partnering closely with a small executive team and a wider group, and explaining complex regulation simply.

• You want to grow with a scaling business and take on more responsibility as the team expands.

Experience & Skills

• Substantial experience in a second line compliance role within a UK regulated retail advice, wealth, platform or fintech firm.

• Strong working knowledge of the FCA Handbook as it applies to retail investment advice, including COBS (including COBS 9A suitability), Consumer Duty (PRIN 2A), PROD, SYSC, DISP, SM&CR and financial promotions.

• Hands-on experience designing and delivering compliance monitoring and assurance (including advice file reviews and thematic reviews) and reporting findings to senior stakeholders and committees.

• Working knowledge of financial crime requirements (MLR 2017, JMLSG guidance, sanctions), including customer due diligence and monitoring controls; experience of group-wide AML or reliance arrangements is a plus.

• Experience overseeing outsourced or intra-group service arrangements, including service level monitoring (SYSC 8), is advantageous.

• Experience of an FCA authorisation, a new regulated service launch or a similar build environment is highly desirable.

• Familiarity with digital, platform or automated advice, and the compliance risks of model-driven or AI decisioning, is beneficial but not essential.

• Knowledge of the products MBSCL advises on (ISAs, general investment accounts and pensions) and of mortgage and protection introducer arrangements is advantageous.

• Clear, concise writing, with the ability to produce policies, MI and Board-ready papers.

• A relevant qualification (for example, the Level 4 or Level 6 Diploma in Regulated Financial Planning, or an ICA Certificate or Diploma in Compliance) is desirable.

What's in it for you?

• Opportunity to join a fast-growing, award-winning and super ambitious startup.

• Work with a friendly team of highly motivated individuals.

• Be in an environment where you are listened to and can actually have an impact.

• Thriving collaborative and inclusive company culture.

• Company pension scheme.

• Company bonus scheme.

• Hybrid working environment.

• Home office furniture allowance.

• Personal Annual Learning and Development budget.

• Private Medical Insurance.

• Health Cash Plan - cashback on everyday healthcare like dental and opticians.

• Cycle to work scheme - spread the cost of a new bike and accessories.

• CycleSaver - save on bike-share subscriptions and have a more sustainable commute.

• Wellhub subscription to a variety of gyms and wellbeing apps.

• Enhanced parental pay & leave.

• 25 days holiday + bank holidays with additional days added with length of service.

Our Commitment to DE&I: At Moneybox, we promote, support and celebrate inclusion, diversity and equity for all, so that everyone can bring their full selves to work. We believe that diversity drives innovation, and that if our team is representative of our community of customers, we can better support their needs. To ensure our recruitment processes provide an equal opportunity for all applicants to succeed, we encourage you to let us know if there are any adjustments that we can make. We are open-minded and always willing to go the extra mile to ensure all applicants can present their full self and potential   Working Policy: We have a hybrid policy that includes 2 days from our London office and 3 from home. If the role states it is either hybrid or remote candidates must be based within the UK.   Visa Sponsorship: At this time we cannot offer visa sponsorship for this role and we cannot consider overseas applications.   Please read before you apply! Please note if offered a position, the offer is conditional and subject to the receipt of satisfactory pre-employment checks which we will conduct such as criminal record and adverse credit history checks. As a regulated financial business, an adverse financial history could impact your suitability for the role. If you are aware of anything that could affect your suitability for the role, please let us know in advance.   By sending us your application you acknowledge and agree to Moneybox using your personal data as described below.   We collect applicants’ personal data to manage our recruitment related activities. Consequently, we may use your personal data to evaluate your application, to select and shortlist applicants, to set up and conduct interviews and tests, to evaluate and assess the results, and as is otherwise needed in the recruitment process generally.We do not share your personal data with unauthorised third parties. However, we may, if necessary, share your personal data to carefully selected third parties acting on our behalf. This may include transfers to servers and databases outside the country where you provided us with your personal data. Such transfers may include for example transfers and/or disclosures outside the European Economic Area and in the United States of America.   If you are unsuccessful in your application, we may keep your details on file so that we can tell you about other suitable vacancies which may be of interest to you when they arise in the future.   If you would like to reach us then please email: talent@moneyboxapp.com   If you would rather we did not keep your details on file, you can contact us at: DPO@moneyboxapp.com