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Head of Compliance - Netherlands



Amsterdam, Netherlands
Posted on Monday, September 25, 2023

Job Description:

Remitly is on a mission to transform the lives of immigrants and their families by providing the most trusted financial products and services on the planet. Since 2011, we have been tirelessly delivering on our promises to immigrants sending their hard earned money home. Today, we are reimagining international payments at scale and building new products to create deeper relationships with our customers and their loved ones across the globe. Join over 2,700 employees across 10 offices who are growing their careers while having a positive impact on people globally.

Remitly is registered as a Money Services Business in the U.S., Canada, EU, United Kingdom, Singapore and Australia. Each of these jurisdictions require, among other items, that Remitly maintain a comprehensive Risk and Compliance Program.

You will contribute to Remitly's mission by ensuring that Rewire EU BV, the European EMI business in the Netherlands acquired by Remitly in January 2023) maintains full compliance with applicable laws and regulations in addition to anticipation of new laws and regulations. You will manage a team to oversee legal and regulatory risks and you will be responsible for ensuring compliance with regulatory requirements. You will help drive the launch of new products while ensuring a suitable compliance program is put in place.

The local Compliance team consists of 2 compliance officers based in the Netherlands and 1 fincrime data analyst in Israel. The first line of defence activities are (to be) undertaken by group functions. The global Remitly compliance team consists of 40+ people.

What You'll do:

You will be an important compliance risk management role with a broad remit and responsibilities and become part of the Management Board as policy maker, including:

  • Drive the Regulatory Compliance risk management framework
  • Keep up to date with new legal and regulation considerations, ensure key stakeholders are kept apprised of relevant regulations and/or increased regulatory risk and support. implementation of processes to ensure ongoing compliance
  • Provide day-to-day regulatory advice to rest of the compliance team
  • Ensure compliance with reporting/notifications including performing filings with the DNB and other regulatory authorities
  • Manage relationships with and regularly report to the Management Board/Supervisory Board, the compliance team and the regulator and FIU.
  • Understand and maintain continuing knowledge of the local compliance requirements and work collaboratively to set the strategic direction for the Compliance Function, reporting to the EMEA Head of Compliance.
  • Implement policy for compliance obligations (including AML) risk management framework to meet requirements and legislation in the region.
  • Assess company operations to determine compliance risk and propose necessary measures to ensure the compliance and effectiveness of the internal AML/CFT measures to the Management Board
  • Partner with colleagues within the company as well as with external stakeholders to identify and address business needs.
  • Engage with key regulators, law enforcement, and other government bodies and agencies on regulatory and licensing matters.
  • Support various internal and external audits
  • Be responsible for the company’s Compliance Monitoring, ensuring adequate controls are in place to review all areas of operation to maintain adherence to regulatory requirements.
  • Strengthen the expertise of the team members. Delegate authority and responsibility to team with supervision, accountability and review and set an example for team members of commitment, compliance activities and work ethics.
  • Ensure there is (or give) appropriate training and communication to first line and second line to ensure they understand their responsibilities and obligations with respect to complying with policies and processes
  • Work closely with Legal Counsel in respect of new regulations and laws
  • Be key point of contact for the Global Compliance team and Internal Audit function
  • Build and maintain professional and technical knowledge by attending educational meetups, establishing personal networks, benchmarking state-of-the-art practices and participating in professional societies

You Have:

  • Professional experience of 5-10 years
  • Previous experience working in a financial institution in Europe
  • AML/KYC experience
  • Analytical and good communication skills and able to easily interact with colleagues and external contacts.
  • Able to work as part of a wider team of geographically dispersed highly skilled professionals

We are committed to nondiscrimination across our global organization and in all of our business operations. Employment is determined based upon personal capabilities and qualifications without discrimination on the basis of race, creed, color, religion, sex, gender identification and expression, marital status, military status or status as an honorably discharge/veteran, pregnancy (including a woman's potential to get pregnant, pregnancy-related conditions, and childbearing), sexual orientation, age (40 and over), national origin, ancestry, citizenship or immigration status, physical, mental, or sensory disability (including the use of a trained dog guide or service animal), HIV/AIDS or hepatitis C status, genetic information, status as an actual or perceived victim of domestic violence, sexual assault, or stalking, or any other protected class as established by law.

Remitly is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.