Third Line of Defence: Independent assurance function that evaluates the effectiveness of governance, risk management, and internal controls.
CRITICAL INDEPENDENCE
This role maintains complete functional independence from operational management and reports directly to the Risk & Audit Committee of the Board.
Establish and lead the independent Internal Control function to provide objective assurance to the Board and senior management on the effectiveness of governance, risk management, and internal control systems of our authorised payment institution.
Functional Reporting: Risk & Audit Committee (RAC)
Administrative Reporting: MD & CEO (administrative matters only)
Direct Access: RAC Chairman
Independence: No operational or management responsibilities
Key Responsibilities
- Independent Audit Planning and Strategy
- Regulatory Compliance Audits
- Systems and Operational Controls Audit
- Three Lines Framework Evaluation
- Financial and Management Audit
- Governance Assurance
- Prepare independent reports with objective findings for RAC
- Monthly Management Report to Managing Director
- Communicate directly with external auditors and regulators when appropriate
- Coordinate (not subordinate to) with the 2nd line to understand their work
- Maintain professional but independent communication with management
- Essential Education and Certifications
- Bachelor’s Degree: Accounting/Finance/Audit or related field
- Professional Certification Required:
- CIA (Certified Internal Auditor) – PREFERRED
- CISA (Certified Information Systems Auditor), or Equivalent professional audit qualification
- Additional Certification Desirable: ICA Anti-Financial Crime, CAMS
- Minimum 7 years internal audit experience, with at least 3 years in financial services
- Specific experience required in payment institutions, money transfer or fintech
- Demonstrable knowledge of FCA regulations and UK regulatory framework. Essential Technical Competencies AML/CTF expertise in regulations and suspicious transaction monitoring
Compensation Structure
Professional Development: Annual budget for certifications and training
Benefits: Comprehensive package including pension, healthcare, annual leave
Location: Birmingham, United Kingdom with flexibility for hybrid working
Travel: Occasional to satellite offices as per audit plan
Hours: Full-time with flexibility during peak audit periods
Salary: £40,000- £45,000 gross per annum (DOE)
