Embedded Banking Oversight Manager Job in United Kingdom Recruiting by ClearBank

About us

ClearBank was built on the belief that banking infrastructure would no longer slow down progress. Instead, it’s the catalyst that unlocks the potential to innovate. That’s why our clients — financial institutions from fintech’s and crypto platforms, to banks and credit unions — use our API to power their banking infrastructure.

But we wouldn’t be ClearBank without our people. They’re what powers our innovative technology and the reason we love what we do every day. We’re a group of spirited people who are never afraid to challenge the norm – becoming stronger, more energised, and that much better when we’re together. It’s our belief in fairness, autonomy and choice that means our people are empowered with the tools to learn, grow, and contribute to ours and our clients’ success. Interested in joining us? Read on or visit our website for more information.

About the Embedded Banking Oversight Function

Under ClearBank’s Embedded Banking model, a firm is able to offer to its customers a deposit account, protected by the Financial Services Compensation Scheme (‘FSCS’). The fulfilment of obligations related to the bank account, particularly regulatory, is done by the Embedded Banking partner under an outsourcing agreement between the Embedded Banking partner and ClearBank.

ClearBank expects its Embedded Banking partners to operate and maintain an effective Compliance framework and will assess this at onboarding and part of its ongoing oversight activities.

The Embedded Banking Oversight function is responsible for the Onboarding and Oversight of all Embedded Banking Partners. For new relationships this involves co-ordination of reviews and completion of documentation across multiple functions both internally and with the respective Embedded Banking Partners. Financial Crime forms a key part of this initial assessment. The function is also responsible for the ongoing oversight and monitoring of all relevant Risk and Controls across the Embedded Banking Portfolio in relation to Financial Crime.

And you’ll be joining the #14 fastest-growing tech company in the UK, according to Deloitte Fast 50.

What you'll do

As an Embedded Banking Oversight Manager, you will co-ordinate completion of a detailed and comprehensive assessment on all new Embedded Banking Partners to determine the adequacy of their control environment. As part of this assessment you will need to gain a detailed understanding of their Operating Model covering: systems, processes and use of sub-contractors. Once live, you will be responsible for the ongoing monitoring of Embedded Banking partners, assessing the control performance and residual risks aligned to ClearBank’s risk taxonomy using both qualitative and quantative data. You will ensure all activities are completed in accordance with the Oversight model including chairing of key governance sessions. The role also includes running key performance meetings with our partners.

About you

As the Embedded Banking Oversight Manager you will have experience in the design / maintenance of effective control environments gained in either 1st or 2nd Line of defence roles along with a sound knowledge of correspondent banking services and strong technical and relevant regulatory knowledge. It will involve direct engagement with Embedded Banking Partners and interaction across several internal functions along with requiring strong external & internal stakeholder management, work organisation and communication skills.

This is an exciting and challenging role and you must be robust to ensure Clearbank’s Embedded Banking Conduct Risk is within risk appetite.

You will need to take a flexible approach in your responsibilities. As such you will be required to undertake additional duties as commensurate with your experience.

• Ensure compliance with all internal policies, Standards, industry guidance and regulation
• Lead the completion of the key Risk Assessments for all new Embedded Banking relationships in accordance with policies, standards and procedures.
• Be responsible for the monitoring and oversight of existing Embedded Banking Partners in accordance with standards and procedures.
• Ensure all oversight activities are completed in accordance with the Oversight Model.
• Define and report internal and external Key Risk Indicators enabling data driven performance monitoring.
• Chair all Embedded Banking Partner governance sessions where required.
• Ensure timely escalation of all material risks for further consideration and / or action.
• Support in the delivery of relevant aspects of the Embedded Banking change programme
• Support the development and implementation of new systems and control
• Build and maintain knowledge of all relevant legislation, regulatory changes, and industry best practice.
• Build and maintain strong relationships with Embedded Banking Partners and internal stakeholders across the business to meet role objectives and deliver key activities.
• Financial Services/Banking Experience:
• Significant expertise in risk and control frameworks and compliance with regulatory standards.
• Strong understanding of sectors such as money remittance, electronic money, APIs, Cryptocurrency firms, and merchant acquirers is a plus.
• Experience dealing with complex and varied business models.

Requirements

• Self-starter, able to work independently when needed, and to prioritise tasks.
• Strong experience working with external stakeholders within a Relationship/Service/Supplier Management role
• Ability to communicate and negotiate with key stakeholders and customers
• Strong attention to detail and good judgement.
• Work to tight deadlines under pressure whilst maintaining high level of quality and competency
• Strong organisational skills with the ability to manage competing priorities.

Financial Services/Banking Experience:

• Significant expertise in risk and control frameworks and compliance with regulatory standards.
• Strong understanding of sectors such as money remittance, electronic money, APIs, Cryptocurrency firms, and merchant acquirers is a plus.
• Experience dealing with complex and varied business models.

We are looking for motivated team players who are delivery focused and can suggest solutions as to how things can be done better, as we’re always looking to improve and do things differently. It is important that you have this mind-set too

Benefits

• At ClearBank we have a flexible working philosophy, empowering our employees to manage their time in a way which allows them to meet both work and personal commitments, in partnership with their line manager
• Spacious and well-equipped new offices in London and Bristol
• 27 days annual leave per year, plus flexible bank holidays
• The option to work outside of the UK for up to 30 days per year
• Regular company-wide socials
• Take a couple of days per year to volunteer with your chosen charity to do something bigger than ClearBank
• Private healthcare through Healix and discounted Bupa dental cover, with employee healthy living perks and discounts through YuLife
• Enhanced family-friendly leave
• Plus, you’ll have the opportunity to join an innovative team that’s building a bank fit for the future!

ClearBank is committed to ensuring equal opportunities throughout every stage of the recruitment process. ClearBank recognises that diversity is vital to the long-term success of the business in the communities and markets in which it operates. ClearBank is also a firm believer that an inclusive culture fosters greater employee engagement and collaboration.

ClearBank strives for diversity and inclusion of all forms, including (but not limited to): gender, age, educational and professional background, disability, gender reassignment, marital or civil partner status, pregnancy or maternity, race, colour, nationality, ethnic or national origin, religion or belief and sexual orientation.

As part of the Company’s commitment to equal employment opportunity, we provide reasonable adjustments, to candidates during the recruitment process, including to individuals with disabilities. We want to create a safe space that welcomes everyone so please let us know how we can accommodate you. In case you have any accessibility requirements you can share this with our Talent Acquisition team prior to your interview stage, if applicable.

The legal bit

By submitting your CV, you confirm that you can demonstrate you have the right to work in the UK. Regretfully we are not in a position to sponsor applicants for immigration purposes at the current time. By submitting your CV to ClearBank Limited you are providing your consent for us to use the information you provide for recruitment purposes. For more information on how we manage your data go and check out our Candidate Privacy Notice on the ClearBank website to see how we process, manage and look after your data. You are also allowing us to communicate with you by email and telephone for recruitment purposes.