Overview

Cardaq UK, established in October 2011, has over 12 years of experience in accepting and processing transparent payments globally. We excel in providing secure and efficient payment solutions, ensuring trust and reliability for our clients. As a leading player in the payment processing industry, we prioritise excellence and transparency in all our operations.

We are seeking an experienced and detail-driven leader to head our Customer Operations (First Line of Defence). In this senior role, you will have strategic oversight of all first-line risk functions for merchant operations, including Merchant Onboarding & Underwriting, Ongoing Merchant Reviews, Transaction & Merchant Monitoring, and Fraud & Disputes. You will be responsible for ensuring that the entire merchant lifecycle – from initial onboarding and due diligence through to continuous monitoring and issue resolution – is managed with operational excellence and in full compliance with regulatory and card scheme requirements.

This is a strategic leadership position that plays a critical part in safeguarding Cardaq’s acquiring business while enabling scalable growth. Reporting to the COO and working closely with the Board and the 2nd line of Defence, you will establish robust processes and controls that meet FCA and card network standards. You will collaborate cross-functionally with Compliance, Risk, Product, and Technology teams to ensure alignment and efficiency in operations. The ideal candidate has a strong background in merchant risk operations and people management, with a proven ability to optimise processes and lead high-performing teams.

Key Responsibilities

• Merchant Onboarding & Underwriting: Lead and manage the merchant onboarding and underwriting process end-to-end, ensuring all due diligence, risk assessments, and documentation meet internal policies and FCA regulatory standards. Oversee KYB checks, UBO verification, analysis of company structure, appropriate Merchant Category Code (MCC) classification, and initial merchant risk scoring.
• Ongoing Monitoring & Reviews: Develop and maintain a structured, risk-based ongoing monitoring framework for active merchants based on their risk profiles, business models, and card scheme exposure. Manage ongoing merchant due diligence reviews (e.g. periodic KYB refreshes, document re-verifications, and risk re-assessments) to ensure merchant information and risk ratings remain up-to-date. Oversee alert queues for non-transactional events such as adverse media hits, scheme notices, changes in business status (MCC changes, ownership or business model shifts), and any watchlist or sanctions screening hits.
• Transaction Monitoring & Risk Escalation: Oversee the daily review and triage of transaction monitoring alerts to identify unusual or suspicious merchant activity. Ensure timely escalation of suspicious activities or trends to the Money Laundering Reporting Officer (MLRO) and Compliance team with thorough documentation of findings. Coordinate with second-line Risk and Financial Crime teams to regularly review and adjust monitoring rules and thresholds.
• Fraud & Dispute Management: Provide oversight for first-line fraud prevention and dispute handling functions. Ensure potential fraudulent transactions or behaviours are promptly identified, investigated, and addressed using appropriate fraud monitoring tools and rules. Oversee the end-to-end merchant dispute and chargeback process, ensuring cases are handled efficiently, fairly, and in line with card scheme rules and timeframes. Analyze fraud trends with the Risk team to implement preventive measures and maintain low fraud and chargeback rates.
• Process, Policy & Controls: Maintain ownership of first-line operational risk controls related to merchant onboarding and monitoring within Cardaq’s Three Lines of Defence model. Ensure all onboarding and review documentation is complete and auditable, stored in Salesforce or similar systems. Proactively monitor for material changes in merchant profiles or behaviour and escalate issues or policy breaches as needed.
• Process Optimisation & Technology: Drive continuous improvement of processes and leverage technology to enhance efficiency and scalability in Customer Operations. Collaborate with Product and Technology to optimise onboarding and monitoring workflows, potentially introducing automation, data integrations, or improved tooling. Design and implement merchant risk tiering, review schedules, and automated alerts to support proactive risk management.
• People Leadership & Performance: Manage, mentor, and develop a multidisciplinary team across onboarding, underwriting, monitoring, fraud, and disputes functions. Set clear performance objectives, SLAs, and escalation protocols. Conduct regular QA checks and provide training to ensure high performance and continuous improvement. Foster a culture of accountability, customer focus, and risk awareness within the team.
• Stakeholder Collaboration: Act as the primary first-line liaison for internal and external stakeholders on merchant risk matters. Work with Compliance, Risk, Sales, Product, and Legal to address onboarding queries and policy updates. Represent Customer Operations in risk committee meetings and audits, presenting findings and risk metrics.

Key Requirements

• Industry Experience: 5+ years in merchant onboarding, merchant risk operations, or KYB oversight within a fintech, PSP, or acquiring bank/institution
• Domain Knowledge: Strong knowledge of KYB, UBO verification, licensing checks, risk underwriting, MCC classification, and ongoing monitoring
• Regulatory & Scheme Familiarity: Familiarity with UK financial regulations relevant to payments (e.g. Money Laundering Regulations, FCA SYSC) and card scheme rules/programmes (e.g. Visa VAMP, Mastercard BRAM/MATCH)
• Leadership: Proven experience managing teams and delivering operational results in a regulated financial environment; track record of implementing effective controls at scale

Desired Skills & Competencies

• Risk Mindset & Detail Orientation: Operationally strong with attention to detail and a structured approach to risk management
• Three Lines of Defence Awareness: Understanding of 3LoD and ability to fulfil first-line duties
• Communication & Stakeholder Management: Excellent written and verbal communication; ability to explain risk to non-specialists
• Analytical & Problem-Solving: Strong analytical abilities; able to interpret data and implement compliant solutions
• Technical Proficiency: Experience with onboarding and risk monitoring tools (e.g., Salesforce, Sumsub) and quickly adopt new technologies
• Benefits: 30 days holiday + bank holidays; private medical; company pension
• Flexible Working: Hybrid working arrangements
• Professional Development: Support for training and certifications (e.g., ICA, ACAMS)
• Team Culture & Modern Office: Regular team events; modern London office

This role offers excellent opportunities for progression within Cardaq’s growing operations and risk management function, with exposure to a broad range of payments topics including AML/CTF, Fraud Prevention, Card Scheme Compliance, and Payments & E-Money Regulations.