Head of Regulatory Compliance

We started in 2012, when we noticed a problem on average, it was taking eight weeks (and a lot of paperwork) for small businesses to apply for a loan. Worse still, more often than not, that process was ending in a 'no'.

We knew that bakeries, building firms, salons, and solicitors deserved better. They deserve to be able to grow - hire more hands, invest in stock, market themselves - without all the hold music and absurdly rigid criteria.

We've now been around for a decade, and in that time, we've

• grown to a team of 290 iwocans
• worked with over 50,000 small businesses across the UK and Germany
• redesigned the whole business loan process from start to finish - our record is three minutes, 26 seconds.

It's a good start, but it's just the beginning. Our mission is help one million businesses who need us, so we still have a long way to go.

Here's what we've learned about lending along the way

• Technology is the way to change this space

From automated decisions to API integrations, tech has the potential to create the changes small businesses have been waiting for - so we can't stop innovating.

• Embedded finance is the future

More and more, we're reaching customers by embedding our loans within the apps and systems they use everyday. Our partners are people like neobanks, online marketplaces and accountancy software companies.

• Payments and credit are converging

Lots of small businesses struggle with cash flow; often getting invoices paid from their customers months after paying their own bills. Loans can help them pay these bills, but we also want to tackle the problem at its root by improving payment terms.

• New products are always possible

We're working to create new loans of all shapes and sizes, and we've recently launched iwocaPay to help with these cash flow conundrums. We work hard to make iwoca a place where everyone feels welcome - we want everyone to confidently be themselves. For us, diversity isn't an optional add-on. It's the thing that makes us great.

Requirements

• All responsibilities related to the FCA Compliance Oversight senior management function (SMF16) and Data Protection Officer
• Work collaboratively across all business functions to manage our conduct and regulatory risks and oversee our compliance with regulatory standards
• Set the strategy for and manage the Compliance team
• Ensure that we have an effective compliance monitoring plan in place, set processes and oversee the effectiveness of our Quality Assurance team
• Oversee our compliance with the UK GDPR and senior managers regime
• Keep up to date with legal and regulatory developments affecting the business, advising senior management of their implications
• Ensure necessary policy and guidance documents are kept up to date
• Ensure effective compliance training is in place for all staff
• Manage our communications with (and be our primary point of contact for) regulatory authorities such as the FCA, ICO and CMA
• Prepare and submit all regulatory reports in a timely manner
• Oversee our insurance policies and liaise with our broker to ensure we have the right cover in place

Ideally, you'll have -

• Have proven experience in a senior compliance role within a financial services firm (previous SMF16 role would be an advantage)
• Have a strong understanding of the FCA regulatory framework, consumer credit laws and regulations, the senior managers and certification regime, PSD2 and the UK GDPR
• Be able to demonstrate strong leadership and an ability to challenge senior stakeholders while also enabling business development
• Have an ability to research new requirements and learn quickly as the business expands

BenefitsWhat's life like as an iwocan?

We all enjoy

• Bright, modern office spaces in London (Fitzrovia) & Leeds. We have always supported flexible working however during the current pandemic the majority of iwocans are working from home. We have taken every precaution to keep our offices COVID-19 secure for those that need to use them.
• A calendar of 'remote friendly' events each week including Bingo, Comedy Nights, Escape Room challenges
• Two company retreats a year (in places like the French Alps or Spanish seaside)
• Pool, ping pong, foosball tables and tournaments
• Virtual Yoga classes every Tuesday and Thursday morning
• An ever-growing number of clubs including climbing, chess, football and boxing
• Plenty of drinks and snacks in our office kitchen

Just for you

• Medical insurance from Vitality, including discounted gym membership
• We take your well being incredibly seriously, so you'll have instant access to emotional and mental health support services via our partner Spill
• Share options
• Enhanced maternity and shared parental leave
• A workplace nursery tax benefit scheme. Save £££ on your nursery costs.
• 25 days holiday per year and an extra day off on your birthday
• All the equipment you need to set up your home working space up
• Paid volunteering time for you to support your chosen charity
• Bring your dog to work days, we're dog friendly on Tuesday and Thursdays in our London office.
• Extra leave if you want to travel or study
• Special celebrations for anniversaries and long service including sabbatical
• Flexible working arrangements
• Cycle-to-work scheme

And to make sure we all keep learning, we offer

• L&D budget including a book budget to encourage you to keep learning
• Company-wide talks with internal and external speakers
• A calendar of meetups we host at our office
• Access to learning platforms like Treehouse if you want to learn to code.