About the job
Facebook’s mission is to give people the power to build community and bring the world closer together. Through our family of apps and services, we’re building a different kind of company that connects billions of people around the world, gives them ways to share what matters most to them, and helps bring people closer together. Whether we’re creating new products or helping a small business expand its reach, people at Facebook are builders at heart. Our global teams are constantly iterating, solving problems, and working together to empower people around the world to build community and connect in meaningful ways. Together, we can help people build stronger communities – we’re just getting started.
Facebook Financial (“F2”) is a product group at Facebook focused on building products to ensure that everyone, everywhere has access to the world’s financial system to accelerate financial inclusion and economic empowerment. F2 includes, among others, Facebook’s Charitable Giving (“CG”) business, which enables donors to quickly and easily give to their favorite charities, and Novi, a digital wallet which will facilitate both emoney and crypto currency transfers (on authorisation).
We are seeking a Chief Operating Officer to help build and then oversee F2 activities and operations in the UK. As an experienced leader with domain expertise in financial product operations, you will build relationships and influence at the highest level, internally (within Facebook and Facebook Financial) and externally, in order to drive collaboration and facilitate meeting a high bar in areas such as reporting, Service Level Agreements, and metrics and other processes. You will also be responsible for driving efficiency and high performance, while ramping those programs, given the strong impact this role will have on the company’s growth.
People from all backgrounds, with diverse experiences, perspectives, and ideas rely on Facebook to build community, and so to bring the world closer together, diversity is a must-have for Facebook, not an option. Facebook offers people who work here opportunities to find work that matters to them, understanding that finding meaningful work can be different for everyone. As we continue to build an inclusive workplace where everyone feels valued and can do the best work of their careers; we provide a variety of programs dedicated to helping people find community, understand the importance of diverse perspectives and tackle bias.
Facebook Financial UK Limited. (“F2 UK”) is a member of the Facebook group of Companies and applying to the FCA for authorisation as an Electronic Money Institution (“EMI”).
Responsibilities
- Responsible for day-to-day operations and decisions for F2 UK (including ensuring that operational activity aligns with the strategic direction of F2 UK)
- Oversight and management of operational risk events for F2 UK and ensuring such events are reported accordingly to the FCA where required
- Senior management responsibility for intra-group and third-party outsourcing (i.e. ensuring that F2 UK receives services from other FB/F2 entities within a stated SLA)
- Coordinate all required reporting to the FCA (financial, operational, etc) in partnership with the F2 Compliance Manager
- Responsible for implementing the F2 UK Board of Directors strategy for the emoney & CG business in the UK
- Act as Executive Director on the F2 UK Board of Directors
- Liaise with the F2 Executive Team to contribute to the F2 group strategy and ensure cohesion across business units, and between Facebook and Novi entities
- Oversight of all operational activities which have been outsourced, ensuring compliance with Service Level Agreements, Statements of Work, and related regulatory expectations (including EBA Outsourcing Guidelines, and relevant FCA Circulars)
- Holding Senior Management in Outsource Service Providers to account for the accurate and timely performance of outsourced services
- Regular reporting to the Board of Directors regarding the outsourced activities
- Ensure appropriate governance and oversight frameworks are implemented and correct policies and procedures are set up with respect to all activities, including outsourced services
- Responsible for ensuring that all safeguarding regulatory requirements are complied with at all times
- Ensure all operational reporting requirements are met
- Promote a strong culture of risk management and compliance within the organisation
- Reviewing periodic AML, Compliance, Risk, IT Oversight, and Internal Audit reports
- Monitoring corrective actions on Internal Audit issues
- Resolving escalated issues
- Ensuring that functions performing activities on an outsourced basis are adequately resourced and staffed, escalating issues to the Board and/or F2 Executive Management, as appropriate.
- Site lead responsibilities also include external relationships with government and business community and site related decision making.
Minimum Qualification
- Degree or equivalent professional qualification in business management or operations
- Extensive experience in a similar position required
- Proven leadership experience in a financial services role, preferably based in the UK
- Able to quickly build strong relationships across countries and disciplines
- Understanding of regulatory requirements, particularly in relation to outsourcing and payment services
- Fluent in English, both spoken and written
- Strong communicator, able to present well, willing to travel
- Ability to work with minimal supervision and in a “hands on” manner
- Act as a role model for company values, culture, ethical standards, hold leaders, partners to the same standard
- Drives and holds organisation leaders accountable for driving cross-company efforts like recruiting, cross-functional work, diversity & inclusion, or site initiatives
- Builds an appropriate internal community (e.g. helps others, shows respect, acts as an ally, onboards new hires, connects people, collaborates well, drives inclusion).
Preferred Qualification
- Very strong preference of having held a C-suite role in a financial services firm operating in the UK or EEA.
- Proven success in setting up an office or driving the development of a business in the UK is strongly preferred
- Some knowledge of the fintech industry and crypto currency is an advantage
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