Money Laundering Reporting Officer // Square

October 8, 2019

Company Description

We believe everyone should be able to participate and thrive in the economy, so we’re building tools that make commerce easier and more accessible to all. We started in San Francisco in 2009 with a little white credit card reader and we now serve millions of businesses around the world. We came to the UK in 2017, our fifth global market, and provide hardware and software solutions that help sellers of all sizes start, run and grow their business. We’re empowering SMEs across the UK to take card payments wherever their customers are – in person, by invoice, over the phone or online. Our Square Reader and Square Stand help our sellers accept Chip & PIN and Contactless payments quickly, easily and affordably. Our Cash app lets people pay each other back instantly. We’re shortening the distance between having an idea and making a living from it—and helping them grow their business is good business for everyone.

Job Description

We are looking for a Compliance Lead to join our team in London, reporting into the regional Chief Compliance Officer for Europe and the United Kingdom, based in Dublin. A successful candidate will act as the Money Laundering Reporting Officer (MLRO) for the UK business and will be responsible for all aspects of Anti-Money Laundering (AML) and Payment Services and Electronic Money Regulation compliance. This role will drive implementation of compliance control, processes and required operations under the AML/CTF program. The MLRO will lead a team of direct reports based in London and they will work as an integrated part of our global Compliance team, leveraging the broader organisation and resources to ensure that we maintain and implement a strong AML/CTF program.

This role is key to Square’s success in the UK and will work with colleagues across Compliance, Payments and Industry Relations, Finance, Risk, Counsel, Internal Audit, Product, and Sales and Marketing. In a constantly evolving and dynamic environment, this role requires managing multiple touch points including managing the day-to-day operations, internal and external relationships. In this role you will have the opportunity to use your compliance experience to solve challenging business problems, find better ways of doing things, and lead meaningful change through technology enablement and scalability. This position is full-time and based in London with 10% travel expected.

You will:

  • Develop industry-leading AML and financial crime processes and procedures, and ensuring the implementation and appropriate controls that reflect business and regulatory requirements
  • Build strong relationships with relevant intelligence authorities, payment schemes, and regulators to ensure we operate with the latest Financial Crime intelligence
  • Oversee the day-to-day operations of the UK Compliance team, including training, coaching, capacity planning, tracking team and individual Key Performance Indicators (KPIs), as well as Key Risk Indicators (KRIs) for the overall program
  • Facilitate risk-based Know Your Customer and Transaction Monitoring programs to detect unusual activity and investigate and report suspicious activity in accordance to regulatory requirements
  • Provide guidance and insight, stepping in to assist with operational escalations and to meet targets as necessary with your team
  • Work with Compliance leads to provide strategic planning, organisational structure, focus areas, and quarterly objectives and key results
  • Liaise with all relevant business partners, financial institution partners, card networks and regulatory authorities
  • Drive a compliance review and analysis of new regulatory developments and maintains oversight of developments impacting business activities
  • Prepare reports to senior management and Board of Directors on a timely basis to communicate all relevant compliance issues and escalate any key or high risk compliance issues
  • Collaborate with internal Compliance teams (such as Governance, Product Advisory, Quality Control etc) to identify clear steps necessary to mitigate those regulatory risks and provide those recommendations in the form of clear business requirements


You have:

  • 5-7 years of experience in a complex, financial services firm, or related e-money/payments industry with proven experience to operate at an MLRO level
  • Strong operational knowledge in executing and running a sound compliance program, preferably with hands-on knowledge and relevant regulatory requirements for the UK
  • Ideal candidate has proven people management experience
  • Strong communication skills, written and verbal, to senior management level
  • Ability to work in a fast-paced, dynamic, and innovative environment, with the ability to deliver outstanding results
  • Ability to build strong working relations with peers, colleagues and with remote based teams with individuals at all levels of the organisation
  • A self starter who can execute with minimal direction and a do-it-all, nothing is too small mentality

Additional Information

At Square, our purpose is to empower – within and outside of our walls. In order to build the best tools for the businesses and customers we support all over the world, we have to start at home with a workforce as diverse and empowered as our sellers. To this end, we take great care to evaluate all employees and job applicants equally, based on merit, competence, and qualifications. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability status, or any other characteristic protected by law. We encourage candidates from all backgrounds to apply. Applicants in need of special assistance or accommodation during the interview process or in accessing our website may contact us by sending an email to assistance(at) We will treat your request as confidentially as possible. In your email, please include your name and preferred method of contact, and we will respond as soon as possible.
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