Three questions for Bernhard Kirschner - Head of Group Compliance

paysafecard is an international, fast-growing company with numerous exciting areas of responsibility, such as sales, marketing, human resources, IT, legal, compliance and fraud prevention. By putting 3 questions to employees from different areas of the company, we provide exciting glimpses into the diverse working life of paysafecard.

Compliance – protecting companies, customers and employees

At paysafecard, it is the highly specialised compliance team which is in charge of implementing internal company guidelines and controls based on legal regulations, as well as ensuring that they are complied with. Furthermore, the compliance organisation is concerned with the prevention of money laundering and the financing of terrorism. The team provide support for the integration process of new customers and with strategic business expansions. The specialists also hold relevant employee training sessions. The role of the compliance team is ultimately that of protecting the company, customers and employees.

The paysafecard compliance organisation is led by Bernhard Kirschner as Head of Group Compliance.

We asked Kirschner three questions about his daily business:

What has been your greatest challenge at paysafecard so far?

paysafecard currently operates in 33 countries around the world. We are present in some of them with a local company. With the support of my local and international team of ten members, the greatest challenge for me has been enabling the implementation and continued expansion of products, while meeting customer requirements in compliance with all the regulatory and strategic specifications that that entails. This is how we ensure a sound base for healthy growth.

When is the peak busy time for your department? When is there particularly a lot to do?

In principle, there isn't a week which passes that doesn't have its challenges. However, it becomes particularly busy when laws are changed which affect the business model of paysafecard. We are also especially needed when product adaptations, the implementation of new marketing and sales ideas, and entry in new markets are pending.

What abilities does an employee in the compliance organisation need to bring with them?

Successful compliance employees are cautious, communicative, team-players, who possess – in addition to common sense – a primarily legally orientated education. Moreover, they must be able to pro-actively act while being aware of any entailed risks, as well as exhibit high problem solving skills and excellent goal orientation on both a process and company level. Compliance employees are ideally able to connect core tasks to additional challenges. They act as a pioneer, they limit risk and often go that famous "extra mile" in order to develop efficient and supportable solutions within the framework of legal possibilities - while always maintaining the focus on the overall perspective of paysafecard.

Due to the protective role we play for companies, customers and employees, our areas of responsibility are wide ranging and exciting. A diverse range of points of contact develop depending on the subject and project - such as with police and regulatory authorities, as well as internal and external inspectors. However, there are also points of contact within the company, usually with other departments where a response, input or concrete specifications are required or requested.

For me, compliance has always been a business-enabling unit. Therefore, in principle, every compliance employee is a competent sparring partner for both management and, above all, the sales staff.

Closing statement: I characterise paysafecard as…

…a company with a determined will, which works together in a tightly regulated environment with the dynamism of an IT start-up towards achieving internationally ambitious goals.

For further information please contact Bernhard Kirschner: b.kirschner@paysafecard.com.

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