Regulatory Compliance Manager - Spain at Wise

Madrid, Community of Madrid, Spain

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, Financial ServicesIndustries

Requirements

Experience in a second line compliance function of local branches of foreign financial institutions in Spain or locally authorised payment or electronic money institutions
A strong knowledge of Spanish payments’ industry regulatory requirements
Demonstrable experience designing and proactively challenging processes and controls, ideally across multiple products, to promote a compliant yet practical approach to building and maintaining products
Thought deeply about Wise’s mission and how it intersects with compliance
Strong communication skills and ability to make a logical, persuasive argument for relevant teams which fairly represents the regulatory requirements and risks

Responsibilities

Identify (horizon scanning) and support with implementation of existing and upcoming Spanish regulatory requirements applicable to our local Branch, including in the areas of consumer protection, payments’ compliance and regulatory reporting
Provide training to Wise teams to raise awareness on applicable compliance obligations
Partner with and provide independent advice to product and product compliance teams on conformity of new product developments with applicable Spanish regulatory requirements
Together with the Compliance Officer, reply to notifications and enquiries received from local authorities, including attendance to institutional meetings
Review of customer communications and marketing campaigns to ensure they align with local regulatory requirements
Review of customer complaints and provide assistance and oversight to the complaints team in the interpretation of the local regulatory requirements
Oversee the preparation and submission of regulatory reports by relevant teams and provide advice on interpretation of relevant reports
Draft and ensure the regular updates and communication of the Wise Europe regulatory compliance policies and procedures are in accordance with Spanish regulatory requirements
Ensure that within the scope of your tasks we retain a transparent and collaborative relationship with our regulators and comply with our notification obligations (e.g. regulatory reporting, regulatory queries)

Skills

Regulatory Compliance

Horizon Scanning

Consumer Protection

Payments Compliance

Regulatory Reporting

Compliance Training

Product Compliance

Regulatory Advice

Customer Communications Review

Marketing Compliance

Complaints Handling

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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