Group Head of FinCrime & Compliance

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 131 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. “Just be lekker!” 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.

We’ve 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’re looking for an experienced leader who has acquired considerable expertise in compliance, governance, and the financial regulation field, with a strong focus on AML and international money transfer. You will ensure that Mama Money, its affiliates, its customers and its partners are protected from any damage that might result from the failure to comply with regulatory obligations and our own internal procedures regarding Financial Crime while taking into account our risk appetite. You will ensure we keep improving our frameworks and processes. You will report to the co-founder.

As our Head of FinCrime & Compliance, you will be responsible for:

• Management of Regulatory Affairs:
• Be responsible for the management of our regulatory affairs, including regulatory compliance. 
• Take over the maintenance and potential expansion of our multiple licences in multiple jurisdictions globally.
• Monitor and interpret new and existing laws, regulations, and industry standards affecting the organisation.
• Ensure the companies' activities comply with applicable laws, regulations, and internal policies, particularly regarding relevant financial and regulatory frameworks.
• Liaise with regulatory bodies and manage regulatory inspections, audits, and inquiries.




• AML Management:
• Develop and enhance Mama Money's compliance framework and rules using a risk-based, strategic approach.
• Oversee AML team activities, including investigations, regulatory reporting, and customer/payment screening.
• Manage agent and partner due diligence processes.
• Assess risks associated with clients, financial instruments, and services, updating systems and procedures as needed.
• Align the AML program with regulatory changes and business strategy, ensuring efficient, automated workflows.
• Implement improvements that consider customer experience, agent network, and overall business performance.
• Regularly review and update AML policies and procedures.
• Support expansion into new products and territories by engaging with regulators and integrating regulatory considerations into strategic decisions.
• Advise on corrective actions and inform senior management of policy gaps.




• Financial Crime Prevention:
• Be passionate about protecting our customers and our company from fraudsters.
• Provide recommendations to minimise business fraud risks.
• Support negotiations and recovery efforts.
• Design and implement fraud prevention processes.
• Manage daily operations of the fraud investigations team.
• Conduct fraud risk assessments for new products/services.
• Investigate fraud cases and draft related policies/procedures.
• Analyse data and prepare intelligence reports for management.
• Develop and deliver anti-fraud training materials.
• Address fraud risk management inquiries from business units.




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

About you:

• Degree or above in law, data, compliance, criminology or related field. 
• Five years of relevant experience in banking, financial or crypto sectors.
• Familiar with case investigation, fraud risk controls, regulatory requirements and market practices.
• Good data analytical, interpersonal and communication skills.
• Self-motivated and able to work under pressure.
• You have implemented and actively managed rules for multiple fraud prevention, customer and transaction screening, and monitoring systems. 
• You are the compliance champion within the business and the business champion within the compliance sphere. 
• You have worked for a fast-growing remittance, payments or crypto FinTech.

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 don’t care about too. Things like bureaucracy, discrimination, ego, titles, and silos. We’re a friendly bunch who don’t take ourselves too seriously but we do take our work, and our customers’ hard-earned money, very seriously. 

Mama’s values: 

1. Customer & Community 

2. Brave & Authentic

3. Positive Mindset 

4. Responsible Mindset

5. Togetherness 

NB: Applications only open to candidates in Cape Town, or candidates who are actively looking to relocate at their own expense.