Our client, a Riga-based technology company powering over 30 successful payment businesses across 15 countries, is expanding into the regulated financial space. As they prepare to launch their EU-licensed payment institution under the Spell brand, they are seeking an experienced and hands-on Head of AML to lead the Anti-Money Laundering strategy and represent the function at the board level.
About the Role
As Head of AML, you will be responsible for developing and implementing the company’s AML/CTF compliance program and ensuring alignment with EU regulatory requirements. You will play a critical role in the licensing process and lead all communication with the regulator. This role will evolve from a project-based regulatory setup to full operational oversight of the AML function as the business scales. The position requires approval from the Bank of Latvia and includes a seat on the Management Board. The selected candidate must be ready to assume board-level responsibility and act as the designated person accountable for AML compliance before the regulator. This role is fully remote.
Your Responsibilities
- Serve as the appointed Board Member responsible for AML/CTF compliance, in line with regulatory expectations.
- Lead the licensing application process, including documentation preparation and communication with the regulator.
- Develop, implement, and maintain a scalable and partially automated AML framework that is fit for a digital-first EU-wide payments platform.
- Build and update policies and procedures for AML/CTF, Sanctions, and KYC onboarding.
- Conduct AML risk assessments and ensure appropriate controls are in place for transaction monitoring.
- Work closely with internal stakeholders and external service providers to ensure a user-friendly and compliant experience for clients.
- Stay up to date with relevant regulations and ensure the business remains compliant across jurisdictions.
- Lead internal AML training and build out the AML team as the business scales.
- Collaborate with the CEO and technical teams to design smart, compliant flows from onboarding to transaction execution.
Your Profile
- Prior experience as an AML Officer or MLRO in a licensed financial institution (e.g., EMI, PI, or bank) in the EU.
- Experience working with regulators and submitting license applications for payment institutions is a strong advantage.
- In-depth understanding of EU AML directives, especially in the context of online payments and SME-focused business models.
- Strong strategic and operational mindset, comfortable with fast-paced and flexible environments.
- Experience implementing digital onboarding and KYC tools.
- Excellent communication skills in English and Latvian.
- Readiness to take on a board-level position with relevant responsibilities and regulatory accountability.
Engagement Stages & Compensation
The role is planned in three stages, with flexible engagement options depending on your availability and preferences:
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Phase 1 – Licensing & Regulatory Preparation
In this initial project-based phase, you will lead the license application process, develop the AML framework, and manage communication with the regulator.
Compensation: full-time, part-time or fixed-fee engagement (project-based), negotiable based on scope and experience. -
Phase 2 – Pre-Operational Standby Period
After license approval and while commercial operations are being finalized, the role shifts into an advisory and supervisory mode.
Compensation: part-time engagement or hourly rate with a minimum monthly fee. -
Phase 3 – Active Operational Phase
Once the platform is live and transactions begin, the position evolves into a fully operational leadership role with growing team responsibilities.
Compensation: full-time salaried role. The company is open to discussing a compensation package that is aligned with your expectations.
The company is flexible and open to structuring the collaboration in a way that works for both sides – whether fixed-fee, part-time, or full-time.
While we’d love to respond to everyone, only shortlisted candidates will be contacted.
However, if another opportunity that fits your profile comes up, we may reach out in the future!