Head of Compliance / AML

About the role

IutePay, an electronic money institution, is looking for a Head of Compliance/AML, a management-level position and an independent second-line control function reporting directly to the CEO. The role establishes, maintains and oversees an effective compliance and AML/CTF framework suited to the nature, scale and complexity of IutePay's activities, and identifies, assesses, monitors, controls and reports compliance, money laundering, terrorist financing, proliferation financing and financial sanctions risks. It provides independent advice and challenge to management and business functions.

Key responsibilities

• Develop, implement and maintain the compliance framework, policies, procedures, methodologies and controls, and prepare the annual Compliance Plan and a risk-based monitoring and testing programme.
• Map legal and regulatory obligations and monitor regulatory developments covering electronic money, payment services, consumer protection, safeguarding of customer funds, outsourcing, operational resilience, ICT and information security, data protection, conduct, complaints, conflicts of interest, anti-bribery and more.
• Assess compliance risks continuously, including regulatory sanctions, financial loss and reputational damage, and recommend improvements to internal controls.
• Perform or coordinate compliance risk assessments for new products, services, channels, technologies, outsourcing arrangements and third-party relationships.
• Act as the designated AML/CTF responsible person (MLRO) and maintain the AML/CTF, sanctions and financial crime framework, including KYC, beneficial ownership, PEP, enhanced due diligence, transaction monitoring, sanctions screening and record keeping.
• Oversee customer and transaction monitoring, investigate alerts and unusual activity, and report suspicious activity to the Financial Intelligence Agency and other authorities while respecting confidentiality and the prohibition on tipping-off.
• Oversee implementation of international and domestic financial sanctions and restrictive measures, and ensure AML/CTF oversight of agents, distributors and outsourced providers.
• Coordinate responses to AML/CTF inspections and provide periodic reporting to the CEO and governing bodies.
• Manage the Compliance and AML/CTF function, define roles and performance standards, coach and develop staff, ensure continuity and segregation of duties, and cooperate with Risk Management, Internal Audit, Information Security, Operations and Finance.

Required profile

• University degree in Law, Finance, Economics, Business Administration or another relevant field.
• At least five years of relevant experience in compliance, AML/CTF, financial services, payments or electronic money, including managerial or supervisory responsibility.
• Strong knowledge of the Albanian legal and regulatory framework for electronic money institutions, payment services, AML/CTF and financial sanctions.
• Professional certification in Compliance, AML/CTF, financial crime or risk management is highly desirable.

Required skills

• Very good command of English and Albanian.
• Strong proficiency in Microsoft Office and relevant compliance systems.