Our client is a well-established technology company with more than 7 years of experience in the payments industry. The company operates as a Gateway Provider, delivering a white-label payments platform for acquiring banks and payment institutions.

Currently, their platform powers over 30 active and profitable payment businesses across 15 countries worldwide.

The company is now entering a new strategic phase — obtaining a Payment Institution (PI) license in Latvia — to expand its presence in the EU and offer innovative online payment solutions tailored for small and medium-sized businesses (SMEs).

Role Overview:

We are looking for an experienced Head of AML (Anti-Money Laundering) to join the management team as a Board Member responsible for AML/Compliance.

The ideal candidate will lead the license application process, establish the AML/CTF framework, and oversee regulatory compliance both during the license acquisition phase and post-licensing operations.

Key Responsibilities:

License Application Stage:

• Lead the preparation of the PI license application in Latvia.
• Communicate and coordinate with the Latvian Financial Regulator (FCMC).
• Develop and implement internal AML/CTF policies, procedures, and controls.
• Provide expert guidance on regulatory requirements and licensing processes.

Post-License (Pre-Operational Phase):

• Maintain regulatory compliance readiness prior to operational launch.
• Finalize compliance procedures in alignment with acquiring partners and banking partners.
• Support the development of internal systems for client onboarding and transaction monitoring.

Operational Phase:

• Act as a Board Member responsible for AML/Compliance.
• Oversee daily AML/CTF operations, including customer onboarding, transaction monitoring, and reporting.
• Scale the AML/Compliance team as the business grows.
• Continuously improve compliance processes and risk management frameworks.

Requirements:

• Proven experience in AML/Compliance within a licensed financial institution (PI/EMI/Bank/PSP).
• Strong knowledge of EU AML/CTF regulations and Latvian regulatory requirements.
• Previous involvement in a license application process with the Latvian FCMC is an advantage.
• Experience working with fintech or payment service providers is a plus.
• Strong communication skills and ability to interact with regulators and internal stakeholders.
• Fluency in English; Latvian or Russian language skills would be an advantage.

What is Offered :

The engagement is structured in three project phases with different compensation models:

Phase 1 — License Application:

• Fixed fee for full support during the license preparation and application process.

Phase 2 — Post-License / Pre-Operations:

• Monthly retainer based on an hourly rate with a minimum monthly fee.

Phase 3 — Operational Phase:

• Full-time employment as Head of AML / Board Member with a competitive salary.
• Opportunity to build and lead the AML/Compliance department.
• Direct involvement in the development of a new licensed fintech business in the EU market.