Product Manager - Financial Crime Operations

Product Manager - Financial Crime Operations 

• Do you want to build and lead a high-performing product team in a rapidly-scaling fintech in the embedded payments space?
• Are you curious, always looking for a better way of doing things and motivated by collaborating cross-functionally to deliver outstanding results?

If so, we would love to hear from you!

We are a leading embedded payments provider in the UK and Europe and are looking to hire ambitious and value-adding talent. The Product Director, Payments will play a critical role, building and leading a high-performing product team to drive revenue growth and build innovative products.

About Us

At Modulr, our vision is a world where all businesses are powered by embedded payments.

Modulr enables thousands of businesses, from SMEs to Enterprises, across the UK and Europe to efficiently pay-in, collect and disburse funds instantly via a range of payment methods, accounts, and card products.

We’ve created an industry-leading platform with comprehensive online tools and API access, to meet the demands of daily business payments. We are connected to an expanding network of accounting and payroll platforms, including Sage, Xero, BrightPay and IRIS. Our payments expertise and extensive product capability also enables us to build tailored solutions to solve complex payment problems for hundreds of clients in a range of industries, including Travel, Merchant Payments, Lending, Wage Advance and Investment & Wealth.

We are deeply integrated into the payments ecosystem. In the UK, we are direct participants of Faster Payments and Bacs, and hold settlement accounts at the Bank of England. Our payment network connectivity includes CHAPS, Open Banking, SEPA and SWIFT. We are principal issuing members of Visa and Mastercard across the UK and Europe.

Our regulatory permissions and governance structure underpin our business. We are regulated as an Electronic Money Institution (EMI) in the UK by the Financial Conduct Authority and in the Netherlands by De Nederlandsche Bank.

Our founding team has a wealth of experience in the payments industry and growing successful businesses. Modulr is backed by the venture arms of payments giants PayPal and FIS, as well as growth investors Blenheim Chalcot, General Atlantic, Frog Capital and Highland Europe.

Modulr now has over 400 employees globally across offices in London, Edinburgh, Amsterdam and Mumbai.

Modulr values

• Build the extraordinary and go that extra mile.
• Own the opportunity: be passionate and proud of the time you invest.
• Move at pace: reach your goals faster with us supporting you each step of the way.
• Achieve it together: work as a team, collaborating with other Modulites.

The Role 

The Product Manager, Financial Crime Monitoring is a critical role within Modulr that will focus on Modulr’s capabilities to identify and prevent financial crime. There are millions of accounts and millions of payments made every day on the Modulr platform, your challenge will be to provide capability to our screening and monitoring operations teams to better identify the small subset of payments that have a high risk of fraud, money laundering, or terrorist financing AND allow those teams to investigate and respond efficiently to provide an overall effective monitoring framework.

Technology will play a key role here. You will have the remit to consider new vendor systems and/or build out our own capability. You must be data literate, you will be a key interface between the operations team and the Engineering and Data teams. Advanced data techniques such as Machine Learning and GenAI will be key to scaling our payments volumes without increasing financial crime risk. 

You must be data driven, you will constantly measure key performance indicators such as alert rate, false positive rate, team response times, held payments, complaints, alert efficacy etc. You will use these KPIs to justify investments in new technology  

Key responsibilities

• Work across all teams to understand requirements, map processes and develop solutions to reduce instances of fraud, terrorist financing and money laundering. You will have to consider new market opportunities and managing new risks, as well as considering new regulatory developments such as Consumer duty, APP Fraud Reimbursement etc. 
• Work closely with the Product Lead for Customer Operations to define Modulr’s strategy and roadmap to efficiently scale our financial crime screening and monitoring function. 
• Work with your customer “Head of Screening and Monitoring Operations”  to manage day to day priorities and respond to urgent issues. 
• Identify opportunities for efficiencies in operational processes including use of process automation and GenAI. 
• Develop, structure and manage a programme of work to execute against your roadmap, clearly defining outcomes that deliver business value.  
• Balance build vs. buy considerations, developing relationships with external suppliers and making investment recommendations to manage risk and cost. 
• Work with Architecture to create technical designs and specifications for products that will be developed in-house, working closely with engineering and data teams to ensure value is delivered incrementally each sprint.  
• Implement new capabilities, ensuring our target product operating model is followed, and that the impact on teams across the business are understood and managed ahead of new functionality going live. 
• Actively manage third party systems and suppliers throughout the “Change” process. 
• Create and maintain internal documentation and functional product collateral for use by internal stakeholders. 
• Responsible for regularly communicating updates on progress, ensuring any issues are pro-actively managed. 
• Actively monitor performance against operational KPIs, ensuring your product roadmap is continually iterated to identify quick wins to maximise efficiency. 
• Support Compliance engagements with respect to Audit or Due Diligence requests for information.  

The Team: 

You will be part of a high-performing team of Product Managers that works cross-functionally to drive change for our customers and internal operations teams. This role will report into the Product Lead for Customer Operations, you will work day-to-day with Screening and monitoring operations teams, engineering teams as well as external suppliers. 

About you:

You will have had experience of delivering positive change in a transaction monitoring or payments screening function. Excellent stakeholder management experience is essential to being successful in this role.

The Ideal Candidate

• A track record in product and / or project management. 
• Experienced in business analysis, able to quickly assess and analyse current activities and processes and develop solutions through technology change to maximise efficiency at scale. 
• A demonstrated history of managing external suppliers, with outstanding communication and stakeholder management skills. 
• Exceptional data analytical skills and attention to detail.

What can Modulr offer you

You’ll be part of a cross disciplinary team(s), with co-workers located in London, Edinburgh, Amsterdam and/or Mumbai. We are friendly and sociable, challenging but rewarding. We want you to push yourself and for us to support you in your future as we scale. Our culture and values put you first and are about investing in your future.

• Share Options Incentive Scheme
• Company Bonus - the more successful we are together, the more company bonus we offer.
• Benefits pot - £1000 towards a variety of benefits for you to choose (including healthcare, dental etc), Perkbox (freebies and discounts!), plus access to season ticket loans.
• 33 days holiday (including bank holidays) + your birthday off - choose which days you take off to relax and/or spend time with loved ones.
• Learning Opportunities – on joining Modulr you will embark on our onboarding programme, called ModStart, to be equipped with the Modulr know-how and arm you with the tools you need to be successful from day 1! But, we don’t want your learning to stop there so we will continue to provide you with the tools and capabilities through our learning channels, platforms and buddy allocation to allow you to grow and develop in Modulr.
• Modulr All hands - join your colleagues for our company-wide events throughout the year.
• Great workspace - Modulr thrives on innovation which is best done through in-person collaboration. This approach enables us to work together closely, exchange ideas, and create innovative solutions that drive our success. We ask our team members to be based in the office 4 or more days a week. We have state-of-the-art offices located in all four locations – London, Edinburgh, Amsterdam and Mumbai.
• Bike to work scheme

ModInclusion 

We believe that by seeing Modulr, and the world, from all sorts of angles, we can make life better for all.​ We want you to know that the things that make you, you — like your identity, age, ability, and background — are things that we will always celebrate and support with open arms.  As such, we are keen to maximise the diversity of our workforce and actively encourage applications from anyone and everyone.