Compliance Senior Manager - Virtual Assets Compliance Officer (VACO) at Wise

Dubai, Dubai, United Arab Emirates

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, Cryptocurrency, Financial ServicesIndustries

Requirements

Minimum of 8 years’ experience

Responsibilities

Act as the designated Virtual Asset Compliance Officer (VACO) as required by Virtual Assets Regulatory Authority (VARA), holding ultimate responsibility for the integrity and effectiveness of the compliance framework
Own the relationship with VARA, serving as the point of contact for all licensing, reporting, examinations, and strategic engagement
Build and maintain a robust, scalable compliance program tailored to the VARA framework
Oversee the maintenance of our VARA license, monitor, interpret, and advise the business on all regulatory developments from VARA and other relevant UAE authorities
Localise and implement Wise’s global compliance policies to ensure they are fit-for-purpose and compliant with VARA rules
Develop and deliver targeted training to the Board and senior management on the VARA framework and the specific risks associated with virtual assets
Report directly to the Board and senior leadership on the health of the compliance program, providing clear insights into emerging risks and the effectiveness of controls
Act as the key strategic advisor to the business, providing clear and practical compliance guidance on new product development and market expansion
Design and manage the financial crime risk management framework, addressing risks specific to virtual assets such as blockchain analytics, the "Travel Rule", and counter-party VASP due diligence
Own the Suspicious Activity Reporting (SAR/STR) process, managing interactions with the UAE’s Financial Intelligence Unit (FIU)
Establish risk-based procedures for customer due diligence (CDD) and enhanced due diligence (EDD), and act as the point of escalation for high-risk customer approvals
Regularly assess the money laundering, terrorist financing, and sanctions risks associated with our virtual asset products and services
Implement systems and key risk indicators (KRIs) to track and monitor our regulatory and financial crime risks effectively

Skills

Key technologies and capabilities for this role

VARA ComplianceVirtual Assets RegulationStablecoin ComplianceRegulatory ReportingLicensing ManagementCompliance FrameworkRegulatory OversightAMLKYC

Questions & Answers

Common questions about this position

Is this role remote or on-site?

The role is on-site in Dubai.

What is the salary or compensation for this position?

This information is not specified in the job description.

What key skills and experience are required for this Compliance Senior Manager role?

The role requires experience in compliance frameworks for virtual assets, regulatory oversight and licensing with VARA, financial crime risk management including blockchain analytics and Travel Rule, and strategic advisory skills for product development.

What does the team structure look like for this position?

You will work closely with a global team of specialists across Product, Legal, Operations, and Engineering.

What makes a strong candidate for this Compliance Senior Manager role?

A strong candidate has experience building compliance frameworks for virtual assets under VARA, can act as the primary point of contact with regulators, and excels at providing strategic compliance advice while managing financial crime risks.

Wise

Facilitates low-cost international money transfers

About Wise

Wise focuses on international money transfers, providing a low-cost alternative to traditional banks. It uses a peer-to-peer system to match transfers between users in different countries, which helps reduce fees and offers better exchange rates. Customers pay a small, transparent fee for each transaction, and Wise also offers a multi-currency account for managing funds in various currencies. The company aims to maintain high performance and reliability while ensuring transparency and trust with its users.

London, United KingdomHeadquarters

2011Year Founded

$385.5MTotal Funding

IPOCompany Stage

Fintech, Financial ServicesIndustries

5,001-10,000Employees

Benefits

PTO & annual leave

Work from home flexibility

Parental leave

Medical insurance plans

Health & wellbeing discounts

Pension & retirement plans

Social events

Relocation support

Risks

Increased competition from banks integrating Swift services could challenge Wise's market share.

Regulatory scrutiny following Stenn's collapse may increase pressure on Wise.

Bitcoin's low transaction fees could attract customers away from Wise's services.

Differentiation

Wise offers a peer-to-peer system for low-cost international money transfers.

The company provides a multi-currency account for ex-pats, freelancers, and travelers.

Wise's transparent fee structure attracts customers seeking cost-effective money transfer solutions.

Upsides

Partnership with Morgan Stanley enhances Wise's cross-border settlement capabilities.

Expansion into India's remittance market presents significant growth opportunities for Wise.

API integrations offer additional revenue streams and market penetration for Wise.

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