Chief Executive Officer
5 hours ago
London
Chief Executive Officer (CEO) – Ethical Digital Bank We want you as our Chief Executive Officer, you will develop and execute our strategic vision to create a world class digital bank. You will lead the Board through pre-application and authorisation, oversee regulatory engagement, foster technological and product innovation, steward Board governance, fundraise, and deliver sustainable growth—all in alignment with our Shariah ethos and regulatory requirements. Location: Hybrid – London, UK Contract Type: Part‑time contract (transition to full‑time upon milestone 4) Sector: Fintech / Digital Banking Remuneration: £200 stipend + £11,000 per milestone accrued + performance bonus + vested share options. About MENA FS We are building an inclusive digital bank with a Shariah ethos, delivering a world‑class banking experience in ethical finance. Having completed the PRA New Bank Start‑Up Unit (NBSU) ‘Initial’ stage, we are now assembling a full Board to progress through the pre‑application stages to authorisation. This is a rare opportunity to: • Create a bank from the ground up., • Shape its strategic direction., • Deliver a new benchmark in ethical digital banking. Why Join Us • Shape the operational DNA of a new UK bank from inception to launch., • Work alongside a founding team committed to transparency, governance, and ethical finance, • Drive innovation in Shariah and ethical finance. Workload & Milestones • 2 weeks of work per milestone (varies with regulatory feedback)., • 3 in person meetings with the PRA/FCA during pre‑application phase., • In person investor meetings may be necessary. Milestones: • M1 – Pre‑application “Feedback”: PRA letter progressing to ‘Challenge’ stage., • M2 – Pre‑application “Challenge”: PRA letter concluding stage or invitation to submit licence application., • M3 – Investment Raise: Successful close of funding round., • M4 – Banking Licence Application Submission: Acknowledgement of application. Regulatory Requirements • PRA/FCA fit and proper checks from outset., • Consultancy phase: Not performing a Senior Management Function (SMF)., • Transition to statutory director role post‑Milestone 4 (SMF role, regulator approval required). Remuneration • Guaranteed stipend: £200 per milestone, paid upon completion., • Additional success‑based payments: £11,000 per milestone accrued during consultancy phase, paid in a lump sum after Milestone 3 is achieved (in addition to stipend)., • Equity participation: 0.5% share options vest at Milestone 4, with further vesting post‑transition., • Performance bonus: Up to 20% (£8,800) based on timely Milestone 4 delivery and positive regulator feedback., • Post‑Milestone 4: Full‑time salary of £120,000 p.a. (pro‑rated), • Travel expenses: Covered and paid alongside accrued remuneration. Key Responsibilities Strategic Leadership & Vision • Develop and articulate the bank’s strategic vision, aligned with our ethos, mission, and values., • Create and maintain the Regulated Business Plan (RBP) deliverables and milestones roadmap., • Refine long‑term strategy to adapt to market conditions, fintech evolution, regulatory changes, and consumer trends., • Establish and oversee an ethical governance framework., • Incorporate feedback from pre‑application stages into the RBP., • Chair an ethics committee with Shariah and ethics advisors., • Work with the CRCO to develop governance, risk, and compliance frameworks, including risk appetite, internal controls, AML/CFT, and consumer protections., • Ensure compliance functions are effective, with regular Board reporting., • Review and update risk frameworks in response to market and regulatory changes., • Partner with the COO to define and deliver a digital‑first technology strategy., • Embed customer‑centricity in product and service design, using insights and feedback to drive improvements., • Act as an ambassador to investors, regulators, customers, and other stakeholders., • Lead fundraising and capital‑raising activities., • Maintain transparent, compliant investor relationships., • Oversee disciplined financial controls., • Build and lead a high‑performance executive team and workforce, ensuring diversity of skills, backgrounds, and perspectives., • Oversee succession planning, talent development, and performance management for senior leaders., • Allocate resources effectively to ensure a successful bank launch. Requirements Essential • Proven CEO or senior executive experience in regulated financial services or fintech startups., • Experience leading a new bank authorisation process or major regulatory programme., • Track record in raising investment and developing capital strategy roadmaps., • Strategic agility to translate market and regulatory feedback into iterative RBP deliverables and roadmaps., • Exceptional Board and stakeholder management skills, including coordination of Statements of Responsibilities, MRMs, and prescribed duties., • Experience building high‑performance, mission‑driven executive teams and leading culture, governance, and ethics committees., • Master’s in Business Administration or equivalent executive training., • Prior experience as a Non‑Executive Director (NED) or Board Chair in a regulated environment., • Familiarity with AI‑driven and scalable digital banking models., • Experience embedding ESG, UN Sustainable Development Goals (UN SDGs), and Shariah ethical finance into strategy., • Experience producing transparent stakeholder reports and publishing ethics or sustainability disclosures. Diversity & Inclusion We are building a team that reflects fairness, transparency, and ethical finance. We welcome applications from all backgrounds, including all ethnicities, genders, ages, religions, sexual orientations, disabilities, and socio‑economic circumstances. A full job specification, including detailed deliverables and reporting lines, will be provided upon application.