📍 Location: Riga, Latvia (hybrid)
🏦 Regulatory Status: Electronic Money Institution (EMI), Bank of Latvia
📈 Seniority: Executive / Key Function Holder
🕓 Engagement: Part-time during licensing → full-time post-approval
🗂 Focus: AML/CFT for acquiring-focused EMI
💰 Compensation: pre-license (part-time): €3,000–4,000 net/month; post-license (full-time): €6,000–8,000 net/month + performance bonus
Money Laundering Reporting Officer (MLRO)
We’re supporting a newly established fintech company in Latvia in hiring a Money Laundering Reporting Officer (MLRO) – a key function holder responsible for designing, implementing, and maintaining the full AML/CFT framework as the company progresses through the Electronic Money Institution (EMI) licensing process with the Bank of Latvia.
This is a high-impact leadership role ideal for someone who is comfortable building compliance frameworks from scratch, working closely with regulators, and operating in a fast-moving environment. The MLRO will play a central role during the pre-license phase and transition into a full-time position once the EMI license is granted, scaling the AML function in line with the growth of a new acquiring-focused payments business.
What You’ll Do
AML/CFT Strategy & Framework Design
- Build a comprehensive AML/CFT framework from the ground up, aligned with Bank of Latvia regulations, EU AML Directives, and FATF standards.
- Develop and maintain AML policies, procedures, risk assessments, and control frameworks tailored for an EMI with acquiring activities.
- Ensure AML processes are embedded into product design, merchant onboarding, transaction monitoring, and operational workflows from day one.
Regulatory & Reporting Responsibilities
- Act as the officially approved MLRO and primary point of contact for the Bank of Latvia on AML/CFT matters.
- Prepare and maintain documentation required for the EMI license application and ongoing supervision.
- Oversee suspicious activity monitoring and ensure timely reporting to relevant authorities.
- Lead regulatory audits, inspections, and ongoing supervisory communications.
Operational Oversight
- Oversee customer and merchant due diligence, including CDD, EDD, PEP, sanctions, and adverse media screening.
- Define and supervise transaction monitoring rules, escalation processes, and case management workflows.
- Ensure effective record-keeping, data protection, and audit trails in line with regulatory requirements.
Team Building & Leadership
- Build and lead the AML/compliance function as the company scales.
- Define roles, responsibilities, reporting lines, and performance expectations.
- Cultivate a strong internal compliance culture through training, guidance, and day-to-day cooperation with business teams.
Business Partnership
- Advise founders and senior leadership on AML/CFT risk, regulatory expectations, and risk-based decision-making.
- Balance regulatory requirements with commercial realities in a growing acquiring business.
- Contribute to building a sustainable, regulator-ready organisation during an early and transformative stage.
What You Bring
- 5+ years of experience as an MLRO or senior AML professional within payments, acquiring, fintech, or other regulated financial institutions.
- Proven experience working with EMI, PSP, or acquiring-focused companies.
- Hands-on experience building AML frameworks and operational processes from scratch.
- Strong understanding of EU AML/CFT regulations, risk-based approaches, and financial crime controls.
- Experience working with regulators and participating in licensing or supervisory processes.
- Ability to operate effectively in early-stage environments with limited structure.
- Languages: Fluent English and Latvian.
Why Join?
- Part-time pre-license engagement with €3,000–4,000 net/month.
- Full-time role post-license with €6,000–8,000 net/month + performance-based bonus.
- Opportunity to build the AML function from the ground up in a newly licensed EMI.
- Direct influence on product design, risk strategy, and regulatory posture.
- Close collaboration with founders in a fast-moving, decision-driven environment.
- Long-term leadership role in an acquiring-focused fintech with international growth ambitions.
- A rare chance to define compliance culture in a company where it truly matters.
Interested? Let’s talk. Reach out and we’ll share more about the company, the setup, and next steps.