Head of Regulatory Affairs

Job description

**Who we are:** [Mama Money](https://www.mamamoney.co.za/) is a growth-stage fintech on a mission to improve the financial lives of migrants and underserved communities across Africa and beyond. What started in 2015 as a cross-border payments service has grown into a multi-product financial operation. We give people the tools to send, save, and manage money — on their own terms, at a socially fair price. Mama HQ is in beautiful Cape Town, South Africa. We're 157 people strong (and counting), representing 19 countries across Africa, Asia, the UK, and Europe. From remittances to a growing range of financial products, everything we build is in service of people who deserve better. Our culture reflects that same commitment. We look after our team the way we want them to look after our customers. "Just be lekker!" means we trust our talented, diverse people to do what's right and make it happen — simply and with heart. We've earned a few accolades, built lasting partnerships, and grown our reach in ways we're proud of. We've had good times and tough times, but our focus has never shifted. People over profit, always. As Mama Money continues to grow its products, partnerships, and geographic footprint, we're looking for a Head of Regulatory Affairs to become the dedicated, in-house owner of our regulatory landscape. This role will maintain our existing licences, lead new licence applications, interpret complex financial services legislation, build trusted relationships with regulators, and provide clear regulatory guidance that enables the business to grow with confidence. ### As our Head of Regulatory Affairs, you will: - **Licensing & Regulatory Permissions:** Own and manage all regulatory licences, registrations, and approvals. - Track and ensure compliance with all licence conditions and ongoing obligations. - Manage licence renewals, amendments (e.g. new products, channels, geographies), and regulatory notifications and approvals. - Lead future licence applications, including e-money licensing and the a-CASP licence from the SARB, together with business FX regulatory frameworks and appropriate licensing structures. - Act as the internal authority on what the business is legally permitted to do. - **Legal Interpretation of Financial Sector Laws:** Provide clear, actionable interpretation of applicable legislation, including the Financial Intelligence Centre Act (FIC Act), Exchange Control Regulations, National Payment System considerations, POCA & POCDATARA, POPIA, the Financial Sector Regulation Act (FSRA) and applicable FSCA frameworks, and UK Electronic Money Regulations and FCA Payment Services Regulations. - Translate legal obligations into business rules, product constraints, and operational requirements. - **Regulatory Management, Legal Oversight & Change Implementation**: Monitor and interpret regulatory developments across legislation, FIC, SARB/FinSurv, FATF, and FCA, and assess business impact across products, channels, and partnerships. - Drive implementation of regulatory change across the organisation. - Maintain a centralised regulatory obligations register and ensure compliance with all legal and licence requirements, including CDD, record-keeping, reporting, and governance obligations. - Map obligations to internal controls and accountable owners. - Provide legal and regulatory input on products, channels, and partnerships to ensure alignment with licence permissions and regulatory requirements, including review and approval of product changes, limits, and structures. - Act as primary liaison with regulators, FIC, SARB, FinSurv, FSCA, and FCA — managing queries, inspections, audits, and formal submissions. - Work closely with Compliance, Risk, and Operations to ensure alignment between legal requirements and internal controls, advising senior management on regulatory risk and constraints. - Engage proactively with the National Treasury and relevant industry bodies on policy developments affecting the industry. - Oversee regulatory documentation, including the RMCP, policies, procedures, and disclosures — to ensure alignment with applicable law and accurate reflection of legal obligations. ### Success in this role, but not limited to; - All licences maintained in good standing, with no breaches or lapses. - New licences obtained in line with the business’s growth plans. - A clear, documented regulatory obligations framework. - Accurate legal interpretation guiding business decisions. - Successful regulatory audits and inspections. - Proactive identification and management of regulatory risk. ### Experience: - 10+ years' experience in financial services law, regulatory affairs, or regulatory legal roles within fintech, banking, payments, or financial services. - Proven experience managing financial services licences, regulatory approvals, and regulatory change. - Demonstrated experience engaging directly with regulators, including SARB, FIC, FinSurv, FSCA, FCA, or equivalent regulatory authorities. - Experience engaging with National Treasury and industry bodies on policy and regulatory matters. - Experience supporting regulated financial products, payments, or cross-border financial services. - Proven ability to influence senior stakeholders and provide commercially pragmatic regulatory advice. ### Technical Expertise: - Financial Intelligence Centre Act (FIC Act) and Accountable Institution obligations. - Exchange Control Regulations. - National Payment System regulatory framework. - Financial Sector Regulation Act (FSRA). - Protection of Personal Information Act (POPIA). - Prevention of Organised Crime Act (POCA). - Protection of Constitutional Democracy Against Terrorist and Related Activities Act (POCDATARA). - FATF Recommendations and international AML/CFT standards. - UK Electronic Money Regulations. - FCA Payment Services Regulations. - Regulatory frameworks impacting cross-border payments and financial services. ### Qualifications: - LLB (or equivalent legal qualification). - Postgraduate qualification in Financial Regulation, Compliance, or a related discipline would be advantageous.