Product Compliance & Risk Manager UK (Investments)

Company Description

Wise - Product Compliance & Risk Manager UK (Investments)

We’re looking for a Product Compliance & Risk Manager to play a central role in the expansion of our Assets product. You will focus mainly on the UK market, but will be expected to contribute to the global rollout of the Assets product as well. With Assets, we’re changing how people think about holding money. Our customers can choose to hold their money as “cash”, or hold it as an investment in money market funds, a type of low risk fund that offers a return in line with the applicable interest rate. This role is a unique opportunity to have a direct impact on the way people hold money. 

Job Description

Wise has launched the Assets product, a new type of investment account, in the UK, Europe and Singapore. Assets enables customers to invest their funds with Wise in various asset classes, including money market funds, while maintaining the immediate access and spending capabilities of a checking account. This product allows customers to earn returns aligned with central bank interest rates, while preserving instant access to their invested funds.

You will help roll out new Assets product features in the UK and contribute to growth of the Assets product globally. In your role, you’ll ensure that Wise is fully compliant with the regulatory requirements to offer investment products to its customers in the UK. You will also be expected to identify key risks related to Assets product and ensure these are mitigated effectively. 

You will contribute to the growth of the Assets product across the world. In this role, you’ll ensure (with the help of local experts) that Wise complies with all regulatory requirements for offering investment products to customers. Additionally, you will identify key risks associated with the Assets product and ensure effective mitigation strategies are in place.

This is a Product & Risk Compliance role, embedded in the Product team. 

You will be responsible for: 

Compliance of the Assets product with applicable investment regulations in the UK:

• Work with product teams throughout the product lifecycle, from design and user testing to launch and post-launch monitoring of new products and new product features. .

• Serve as the primary contact for any regulatory questions or implications regarding the Wise Assets UK product.

• Conduct and document thorough regulatory analyses of new products and services, ensuring that appropriate controls are in place before launch.

• Enable product teams to adopt a risk-based approach in developing products, processes, and controls.

• Identify opportunities to enhance our product proposition and competitiveness by thoroughly analysing relevant regulations and challenging existing interpretations and market practices.

Managing and Mitigating Regulatory Risks: 

• Identify regulatory risks and ensure effective mitigation for Wise’s investment product in the UK.

• Conduct ongoing regulatory risk assessments, providing valuable advice to product managers on current and upcoming regulations, gaps, and risks.

• Work with second line Compliance and Product teams to ensure that remediation plans are agreed upon and executed promptly.

• Collaborate with colleagues in the second-line compliance oversight team to keep product teams informed of new and upcoming regulations.

• In collaboration with second line Compliance and Risk teams, identify and align on the main regulatory issues and risks in the UK. Present this in a very clear and understandable way to the wider teams, to work with them on defining the solutions and how this should be executed. 

Qualifications

• Deep working knowledge of UK regulations applicable to retail investment products (FSMA, COBS, CASS, SM&CR. Consumer Duty, etc).

• Minimum 5 years experience working in a legal or (first or second line) compliance role within the retail investment industry.

• Problem solving attitude, with the ability to use regulation together with data to drive business decisions. 

• A natural owner who wants to go beyond an advisory role and take initiative and drive projects end to end.

• Ability to effectively communicate with product managers and engineers and provide practical, actionable, and valuable recommendations. 

• Familiar with the evolving regulatory expectations of the FCA with regards to retail investment products.

• Experience (or keen interest) in working in a fast-growing technology driven environment.

• Willingness to travel occasionally, as Wise offices are located across different countries. 

Additional Information

For everyone, everywhere. We're people building money without borders — without judgement or prejudice, too. We believe teams are strongest when they are diverse, equitable and inclusive.

We're proud to have a truly international team, and we celebrate our differences.

Inclusive teams help us live our values and make sure every Wiser feels respected, empowered to contribute towards our mission and able to progress in their careers.

If you want to find out more about what it's like to work at Wise visit Wise.Jobs.

Keep up to date with life at Wise by following us on LinkedIn and Instagram.

For everyone, everywhere. We're people building money without borders — without judgement or prejudice, too. We believe teams are strongest when they are diverse, equitable and inclusive.

We're proud to have a truly international team, and we celebrate our differences.
Inclusive teams help us live our values and make sure every Wiser feels respected, empowered to contribute towards our mission and able to progress in their careers.

If you want to find out more about what it's like to work at Wise visit Wise.Jobs.

Keep up to date with life at Wise by following us on LinkedIn and Instagram.