Our client, a reputable and well-established group of companies with a UK authorised and regulated Electronic Money Institution (EMI) and a Danish registered Virtual Account Service Provider (VASP), is expanding its operations across the EU and is currently in the process of applying for an EMI and Crypto Asset Service Provider (CASP) license in Latvia.

As part of this strategic growth, the Group is seeking an experienced Compliance Director/Money Laundering Reporting Officer (MLRO) to join its team in Latvia and act as the Compliance Director/MLRO for the prospective EMI and CASP in Latvia with accountability to the local Company’s Board of Directors and the Group’s VP Compliance and Risk.

🔍 Role Overview:

We are looking for a highly skilled Compliance Director/MLRO to take ownership of the prospective EMI/CASP in Latvia’s Compliance and Risk function including measures to prevent financial crime (money laundering, financing of terrorism, sanctions and fraud) and play a key part in the Group’s Compliance and Risk function.
The successful candidate will play a central role in the EMI/CASP license application process and in building and embedding a comprehensive Financial Crime framework, in addition to ensuring full regulatory company with the obligations of an EMI/CASP— both during the licensing phase and as the business moves into full operational activity.

🔍 Responsibilities:

During the EMI and CASP License Application Phase:

• Assist on the preparation and submission of the EMI and CASP license application in Latvia in close collaboration with the Group’s General Counsel, VP Compliance and Risk and local lawyers.
• Serve as the primary point of contact with the Central Bank of Latvia, managing all regulatory correspondence.
• Design and implement the local company’s Financial Crime policies, procedures, and internal control systems in line with local and EU regulatory expectations with due consideration to the Group’s approach to Compliance and Risk as lead by the Group’s VP of Compliance and Risk.
• Advise senior leadership in Latvia on compliance obligations, licensing requirements, and regulatory best practices.
• Ensure the business is fully prepared from a compliance perspective ahead of launch.
• Finalize operational compliance documentation and align frameworks with regulated activities.
• Support the configuration of internal systems to ensure effective customer onboarding, risk scoring, and transaction monitoring capabilities.
• Assist the Group’s other regulated entities in complying with their regulatory obligations in the UK and Denmark.

Active EMI and CASP License Phase:

• Take on the formal role of Compliance Director/MLRO, responsible for overseeing day-to-day compliance and Financial Crime operations.
• Manage customer due diligence, ongoing monitoring, investigations, and reporting of suspicious activity in line with legal requirements.
• Build and expand the compliance team in step with company growth, ensuring strong governance and internal oversight.
• Continuously evaluate and enhance Compliance and Risk controls, internal processes, and risk management procedures to meet evolving regulatory and business needs.

🎓 Requirements:

• Background in fintech, payments, or fast-paced financial services is preferred.
• Track record of building effective compliance frameworks and controls.
• Proven Compliance and Risk experience within licensed financial institutions
• Strong grasp of EU and Lativan compliance and riskregulations.
• Prior involvement in license applications in Latvia is a strong plus.
• Excellent communication skills, comfortable with regulators and executives.
• Detail-oriented with a proactive approach to risk and compliance updates.
• Fluent in English and Latvian
• Relevant certifications (e.g., CAMS, ICA)

✨ The Employer offers:

• Full-time executive role as Compliance Director/MLRO, with a competitive compensation package.
• A rare opportunity to shape and lead the Compliance and Risk function from the ground up.
• Direct participation in launching and growing a newly licensed fintech business in the EU.
• A seat at the leadership table, both on the local Board of Directors but also in the Group’s Compliance and Risk function, contributing to strategic decisions and long-term direction.
• Hands-on involvement in the EMI and CASP licensing process and direct communication with regulators.
• The chance to work in a fast-paced, innovation-driven environment with strong international backing.
• An international and collaborative culture that values expertise, autonomy, and initiative.
• Competitive monthly salary: €5,000–€9,000