Head of Compliance & MLRO UK

Who We Are

Onafriq is an omnichannel network of networks, making borders matter less by providing our partners with a single pathway to unlock the full power of cross-border and cross-platform payment solutions. 

With a network spanning over 40 African markets, Onafriq connects over 1 billion mobile money wallets, over 500 million bank accounts, and over 200,000 agents in Nigeria, enabling domestic and cross-border disbursements and collections, card issuing and processing, agency banking, and treasury services. 

By connecting global and regional enterprises, mobile money operators, money transfer operators, banks, fintechs, global development organisations, and online and offline merchants, supported by world-class regulatory and compliance capabilities and a strong regional presence in 10 offices in Africa, and others in the UK, US, and China, Onafriq is ushering in a new era of access for people across the African continent and beyond.

The Role

We are recruiting for an experienced Head of Compliance & Money Laundering Reporting Officer (“MLRO”) to join the Group’s Governance, Risk & Compliance (“GRC:) division and to lead and oversee the Onafriq UK Limited’s (the Group’s main UK operating subsidiary) regulatory compliance framework and financial crime prevention program. This role is responsible for ensuring the firm complies with all applicable FCA regulations, including those relevant to Electronic Money Institutions (EMIs) under the Electronic Money Regulations 2011, Payment Services Regulations 2017, and UK ML/CTF legislation. The successful candidate will act as the firm's SMF16 (Compliance Oversight) and SMF17 (MLRO), maintaining strong regulatory relationships with the FCA and ensuring a robust compliance culture across the organisation.

As a core member of the GRC team, the Head of Compliance & MLRO for Onafriq UK Limited, will report to the Director of Compliance & Group MLRO and will work closely with other Compliance and Risk Managers within the broader Group GRC team, as well as with key internal and external stakeholders and business partners. The overarching responsibility of this role is to support the growth of the UK business, while ensuring that Company operates within FCA expectations and adheres to its regulatory obligations and responsibilities.

We are seeking candidates with at least 8 years of compliance experience, and at least a few years having worked for FCA regulated firms, ideally with EMI licensed fintechs or payment firms. Given the importance of this role and the need to engage with a large set of stakeholders, the candidate must possess exceptional communication skills, high EQ, strong organization skills, and be comfortable working in a dynamic, fast-paced environment.

The role will be located in London, United Kingdom. The successful candidate is expected to be approved by the FCA.

Duties and Responsibilities:

Regulatory Compliance Oversight

Lead the design, implementation, and maintenance of the firm’s compliance framework.

Ensure compliance with:

Electronic Money Regulations 2011

Payment Services Regulations 2017

FCA Handbook (including SYSC, PRIN, DISP)

Consumer Duty

Monitor regulatory developments and assess their impact on the business.

Provide guidance to senior management, the Group and the local Board on regulatory matters.

Oversee regulatory reporting and ensure timely submissions to the FCA.

Financial Crime & AML (MLRO Responsibilities)

Act as the firm’s Money Laundering Reporting Officer (MLRO).

Maintain and enhance the firm’s AML/CTF framework in accordance with:

Money Laundering Regulations 2017 (as amended)

Proceeds of Crime Act 2002 (POCA)

Terrorism Act 2000

Manage Suspicious Activity Reports (SARs) submissions to the UK National Crime Agency (NCA).

Conduct ongoing financial crime risk assessments.

Oversee transaction monitoring, sanctions screening, and customer due diligence processes.

Policies, Controls & Risk Management

Develop and maintain compliance policies and procedures including:

AML/CTF policies

Compliance Monitoring Program (CMP)

Financial crime policies

Conduct risk framework

Conduct periodic compliance monitoring and testing.

Lead internal investigations relating to compliance breaches.

Report key compliance risks to the local Board and to the Group Board Audit & Risk Committee (BARC).

FCA Engagement & Regulatory Relations

Serve as the primary point of contact with the FCA.

Lead regulatory interactions including:

Supervisory reviews

Information requests

Regulatory inspections

Manage regulatory change implementation.

Governance & Senior Management Responsibilities

Provide regular compliance and financial crime reporting to the Board and senior management.

Maintain SMCR responsibilities and documentation.

Ensure staff receive appropriate compliance and AML training.

Promote a strong culture of compliance and ethical conduct.

The ideal candidate will have the following qualifications and experience: 

8-10 years of experience in compliance, risk or financial crime role within regulated financial institutions.

Deep knowledge of UK financial regulation.

Significant experience working with FCA-regulated firms.

Prior experience acting as MLRO or Deputy MLRO.

Strong knowledge of:

FCA Handbook

Money Laundering regulations

Payment Services regulations

Electronic Money regulations

Strong numerical & analytical skills.

Deep understanding of global financial products, markets & regulations attention to detail.

Experience interacting directly with regulators.

Extensive experience with regulatory interpretation and implementation

Strong verbal & written communication skills.

Self-motivated and ability to work independently.

Experience working in emerging markets and on multiple continents, including Africa, a plus.

You will be a good fit if you are:

a trusted confidant with strong emotional intelligence who can build relationships quickly and understand the perspective of others of high integrity and sound judgement.

a great listener and strong communicator across diverse stakeholder groups, including senior management and the Board.

able to manage and deliver on multiple work streams simultaneously whilst ensuring that their work product is of a high standard.

have a pragmatic, risk-based approach to regulation. 

able to drill down into the detail, as well as pull back and see the bigger picture; and

comfortable with ambiguity and can operate effectively in a fast-paced and changing environment.

Why work for us:

We work at the very cutting edge of fintech in Africa.

We solve relevant problems for Africa and the world in hope of continuing to make an impact on the millions, if not billions, of users who also believe in what we do.

We have a very diverse work environment with over 28 nationalities represented and continually strive to build a culture of caring and execution.

We operate a flexible working and unlimited leave policy.

We offer a competitive salary package and bonuses.

We prioritize the overall well-being of our staff through various initiatives aimed at ensuring they reach their full potential in a supportive environment.