We’re looking for a Product Compliance & Risk Manager to play a central role in the expansion of our Assets product in Australia. With Assets, we’re changing how people think about holding money. Our customers can choose to hold their money as “cash”, or hold it as an investment in money market funds, a type of low risk fund that offers a return in line with the applicable interest rate. This role is a unique opportunity to have a direct impact on the way people hold money.
Your Mission
Wise has launched the Assets product, a new type of investment account, in the UK, Europe and Singapore. Assets enables customers to invest their funds with Wise in various asset classes, including money market funds, while maintaining the immediate access and spending capabilities of a checking account. This product allows customers to earn returns aligned with central bank interest rates, while preserving instant access to their invested funds.
You will help grow the Assets product in Australia. In your role, you’ll ensure that Wise is fully compliant with the regulatory requirements to offer investment products to its customers in Australia. You will also be expected to identify key risks related to Assets product and ensure these are mitigated effectively.
You will contribute to the growth of the Assets product in Australia. In this role, you’ll ensure that Wise complies with all regulatory requirements for offering investment products to customers in Australia. Additionally, you will identify key risks associated with the Assets product and ensure effective mitigation strategies are in place.
This is a first line Product & Risk Compliance role, embedded in the Product team.
You will be responsible for:
Launching and improving the Assets product in Australia in a compliant way:
Work with product teams throughout the product lifecycle, from design and user testing to launch and post-launch monitoring.
Serve as the primary contact for any regulatory questions or implications regarding the Wise Assets Australia product.
Conduct and document thorough regulatory analyses of new products and services, ensuring that appropriate controls are in place before launch.
Enable product teams to adopt a risk-based approach in developing products, processes, and controls.
Identify opportunities to enhance our product proposition and competitiveness by thoroughly analysing relevant regulations and challenging existing interpretations and market practices.
Managing and Mitigating Regulatory Risks:
Identify regulatory risks and ensure effective mitigation for Wise’s investment product in Australia.
Conduct pre-launch and ongoing regulatory risk assessments, providing valuable advice to product managers on current and upcoming regulations, gaps, and risks.
Work with Compliance and Product teams to ensure that remediation plans are agreed upon and executed promptly.
Collaborate with colleagues in the second-line compliance oversight team to keep product teams informed of new and upcoming regulations.
In collaboration with second line Compliance and Risk teams, identify and align on the main regulatory issues and risks in Australia. Present this in a very clear and understandable way to the wider teams, to work with them on defining the solutions and how this should be executed.
