Job Description

Who we are:
Mama Money is a growth stage fintech startup working to help migrant workers in South Africa send money home. Since 2015 we have been providing reliable remittances, at a socially fair price, to those that need it most.


Mama HQ is in beautiful Cape Town, South Africa. We are 122 people strong (and counting) from 19 countries across Africa, Asia, the UK, and Europe. Our culture is built around the well-being of our team members and making a difference in our communities. xe2x80x9cJust be lekker!xe2x80x9d personifies our approach to work: we trust the wisdom of our talented and diverse team to do what is best for our customers and get the job done responsibly, without pedantic policies.


Wexe2x80x99ve been around since 2015 and have earned a few accolades along the way, made some new friends, and expanded our reach. We've had some great times and some tough times, but we continue to focus on helping people rather than maximizing profit.


We are seeking a dynamic and highly qualified Head of Financial Crime to lead our efforts in the remittance and banking services sector.
As the Head of Financial Crime, you will assume a pivotal role in overseeing and optimising the company's Anti-Money Laundering (AML) and Financial Crime prevention efforts. This critical role involves ensuring strict compliance with regulatory standards, managing operational risks, and spearheading initiatives to detect and prevent financial crimes within the context of international money transfers and banking services.
You will lead a team, ensuring effective investigations, compliance with regulations, and the development of proactive measures to mitigate risks.

As our Head of Financial Crime you will be responsible for:

• • AML Program Management:
  • Oversee AML team activities, including investigations, regulatory reporting, and customer/payment screening.
  • Develop and maintain agent and partner due diligence processes.
  • Evaluate risks associated with clients, financial instruments, and services, updating systems and procedures accordingly.
  • Align the AML program with regulatory changes and business strategy.
  • Review and update AML policies and procedures as needed.
  • Provide guidance on corrective measures and inform senior management of policy application shortcomings.
    
  • 
    Corridor Analysis and Training:
  • Assist in corridor analysis and develop/review corridor-specific AML Red Flags.
  • Facilitate an annual employee training program on Money Laundering and Terrorist Financing prevention.
  • Identify departments and employees requiring further training and education.
    
  • 
    Fraud Management:
  • Collaborate with legal and law enforcement to plan and execute fraud case resolutions.
  • Conduct suspect interviews, analyze documents and financial data, and direct fraud unit operations.
  • Provide professional recommendations to limit fraud risks for business establishments.
  • Support negotiations and recovery processes.
  • Design and implement effective fraud prevention processes.
  • Manage day-to-day activities of the fraud investigations team
    
  • 
    Fraud Prevention and Technical Expertise:
  • Establish and enforce rule configurations based on fraudulent activities.
  • Oversee various lines of defence against fraud and lead fraud investigations.
  • Analyse data and trends for proactive fraud prevention.
  • Develop a strategic approach to fraud mitigation, transitioning from reactive to proactive measures.
  • Collaborate with technical experts to implement effective anti-fraud measures.
    
  • 
    Technical Leadership:
  • Utilise systems thinking and data analysis for informed decision-making.
  • Own the implementation, management, and enhancement of compliance systems.
  • Drive technical understanding and data analysis for AML and fraud prevention.
  • Enhance technical capabilities within the Compliance department.

In your first 90 days at Mama Money you will:

• • Understand our business, our corridors, our transaction patterns, our existing rules and framework, and our regulatory obligations.
  • Do your first risk assessment of our business from a compliance perspective, identify gaps and propose mitigation strategies.
  • Propose AML system improvements and champion their implementation.
  • Get to know the compliance team, the senior management team, and the overall people in our organisation.

About you:

• • You have at least 8-10 years of Financial Crime & Compliance management role.
  • You are familiar with industry practices and professional standards and have knowledge of legal requirements and controls (e.g. AML, KYC, Fraud).
  • Strong technical understanding and experience in AML and fraud prevention.
  • You have experience setting up, managing, and developing a team of AML / Customer Screening / Fraud investigators, specifically focusing on their ability to grow their skillset and liaise with the rest of the organisation.
  • You have actively managed the set up and maintenance of transaction monitoring rules set, specifically with regard to rules that identify money laundering and fraud patterns
  • Proficiency in data analysis and trend identification.
  • You have experience in the successful implementation of robust compliance & Fraud frameworks and processes - both in AML/KYC and Consumer Fraud.
  • You have experience managing and improving the usage of customer screening and automated transaction monitoring tools.
  • You have designed and implemented risk management programmes
  • You have the ability to provide input in product development with regards to Fraud enhancements and customer protection.
  • You have experience dealing with payment partners and third-party agents especially in terms of DD, EDD and risk management.
  • Strategic thinking and the ability to design and implement effective anti-fraud measures.
  • Excellent communication and leadership skills.
  • Proven experience in managing compliance, AML, and fraud prevention teams
  • Compliance with regulatory requirements.
  • Effectiveness of AML and fraud prevention measures.
  • Timely identification and mitigation of fraudulent activities.
  • Proactive approaches to risk management.
  • Successful expansion into new corridors with minimised risks.

It would be a bonus if:

• • You have worked for a fast-growing FinTech or Payments Industry.
  • You have worked with Napier (Refinitiv) or similar systems

Why Mama:
At Mama Money, the customers & communities we serve are at the heart of all that we do.


We bring our authentic selves to work where we are free to express our diverse identities while staying true to what we believe in and how we feel. Part of that means being able to have difficult conversations when necessary but always remembering to do so with trust, respect, and a positive mindset. Being open to receiving feedback and understanding how this helps us evolve and grow is essential to succeeding in our environment.


We are responsible for ourselves, our behaviour, our delivery, and our output. Although we always aim to move things forward and get $hit done, we start small - taking it step by step and always looking for ways in which we can improve. We know from experience that when we work together towards a common goal, we can achieve anything.


Mama Money is a special place because we care. We care about our customers, we care about the people who work for us and we care about the impact our work has on the world. There are things that we donxe2x80x99t care about too. Things like bureaucracy, discrimination, ego, titles, and silos. Wexe2x80x99re a friendly bunch who donxe2x80x99t take ourselves too seriously but we do take our work, and our customersxe2x80x99 hard-earned money, very seriously.


Mamaxe2x80x99s values:
1. Customer & Community
2. Authentic
3. Positive Mindset
4. Responsible
5. Togetherness