If so, we would love to hear from you!
We are looking to hire ambitious, and value-adding talent to join Modulr, the fastest growing payments business in the UK and Europe, to drive our Financial Crime Monitoring, Screening and Fraud Prevention activities; a vital set of activities within the organisation.
This role will have teams based in Edinburgh and Mumbai. We are looking for an Edinburgh based candidate to leverage our “Office First” strategy.
About us
At Modulr, our vision is a world where all businesses are powered by embedded payments.
Modulr enables thousands of businesses, from SMEs to Enterprise, across the UK and Europe to efficiently pay-in, collect and disburse funds instantly via a range of payment methods, accounts, and card products.
We have created an industry-leading platform with comprehensive online tools and API access, to meet the demands of daily business payments. We are connected to an expanding network of accounting and payroll platforms, including Sage, Xero, BrightPay and IRIS. Our payments expertise and extensive product capability also enables us to build tailored solutions to solve complex payment problems for hundreds of clients in a range of industries, including Travel, Merchant Payments, Lending, Wage Advance, and Investment & Wealth.
We are deeply integrated into the payment eco-system. In the UK, we are direct participants of Faster Payments and Bacs, and hold settlement accounts at the Bank of England. Our payment network connectivity includes CHAPS, Open Banking, SEPA, SWIFT and account issuance in 11 currencies. We are principal issuing members of Visa and Mastercard across UK and Europe.
Our regulatory permissions and governance structure underpin our business. We are regulated and supervised as an Authorised Electronic Money Institution (AEMI) in the UK by the Financial Conduct Authority and in the Netherlands by De Nederlandsche Bank.
Our founding team has a wealth of experience in the payments industry and growing successful businesses. Modulr is backed by the venture arms of payments giants PayPal and FIS, as well as growth investors Blenheim Chalcot, General Atlantic, Frog Capital and Highland Europe.
Modulr now has over 400 employees spread globally across offices in London, Edinburgh, Amsterdam and Mumbai.
Modulr values
The role
Key responsibilities:
The Head of Monitoring and Screening Operations, which reports into the COO, is an exciting role within Modulr which takes responsibility for running and evolving the overall Line 1 Financial Crime operations, covering all monitoring, screening, and fraud prevention activities. The role is aiming to continually deliver on and improve our detection and prevention of financial crime.
This pivotal role is critical to both protecting the business and the broader ecosystem by ensuring that we have robust controls in place, but also delivering on our brand promise by ensuring smooth, seamless, and high-quality customer experiences. As such, it has the scope and potential to have a material impact on the business.
This role has responsibility for the holistic span of post-live Financial Crime Operations within Modulr. This is currently delivered by three teams:
In addition to this, the teams also ensure we report outcomes as required to the relevant agencies as it relates to ML/CTF, sanctions and fraud.
The role holder will drive continuous improvement strategies to enhance our detection and prevention capabilities across all areas, taking into account both external market and regulatory changes, as well as internal changes such as product developments and target verticals. Most specifically in the immediate term, this role will own and drive forward an increased focus on fraud prevention, working in conjunction with other parts of the business including the Line 2 Compliance teams (across both UK and NL).
As part of the delivery of these processes, we use internal Modulr tools and work with various third-party software providers to deliver these activities and controls. The Head of Monitoring and Screening Operations owns these processes in their entirety including ensuring we continually work towards improving our detection, prevention, and false positive rates where possible and appropriate to do so, whilst also maintaining robust controls. This includes working with Modulr Product and Technology teams, as well as third party providers, to achieve these outcomes.
Whilst this role will specifically focus on the operational elements of monitoring and fraud noted above, for success the role holder and their team will need to work with other teams across the business to deliver on the end outcomes. This includes clear handovers and briefings from CDD and Solution Consulting to ensure monitoring teams understand the profile and expected usage of new clients going live on the Modulr platform, through to ongoing engagement with the Partner Oversight team in relation to our engagement with Partners (third parties who operate under Modulr’s licences and in some instances have transaction monitoring and other controls outsourced to them). They will also work closely with external stakeholders in the UK and Europe such as the NCA, in industry bodies.
Specific duties:
Through their ownership of the activities, and leading the teams that deliver these, the Head of Monitoring and Fraud is responsible for:
About you
The successful Head of Monitoring and Screening Operations will have a track-record in delivering results in a fast-moving business and hence be comfortable with change and uncertainty. A strong focus on operational rigour and efficiency as well as excellent stakeholder management experience is essential to being successful in this role.
The ideal candidate will be/have:
What can Modulr offer you:
You will be part of a cross disciplinary team(s), with co-workers located in Edinburgh, London, Amsterdam and/or India. We are friendly and sociable, challenging but rewarding. We want you to push yourself and for us to support you in your future as we scale up and grow. Our culture and values are putting you first and are about investing in your future.
ModInclusion
We believe that by seeing Modulr, and the world, from all sorts of angles, we can make life better for all. We want you to know that the things that make you, you — like your identity, age, ability, and background — are things that we will always celebrate and support with open arms. As such, we are keen to maximise the diversity of our workforce and actively encourage applications from anyone and everyone.
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