Our client, an international FinTech group preparing to establish a licensed Electronic Money Institution (EMI) in Latvia, is seeking an experienced AML and Compliance professional to join its Board and provide strategic oversight of the AML/CTF and compliance framework.

This is a compelling opportunity to play a founding governance role in establishing and growing a regulated financial institution, working alongside experienced professionals in payments, compliance, risk management, and financial services. The role is particularly well-suited to a senior AML professional seeking a governance-focused, non-executive position with a flexible time commitment.

🔍 Responsibilities:

Governance & Board Oversight

• Provide independent, Board-level oversight of the institution’s AML/CTF, sanctions, and financial crime prevention framework.

• Ensure the Company maintains effective governance, policies, internal controls, and risk management arrangements in line with Latvijas Banka’s supervisory expectations and applicable EU/Latvian AML legislation.

• Review and formally approve AML risk assessments, policies, and monitoring arrangements presented to the Board.

• Act as an independent voice at the Board level, able to constructively challenge executive management and the MLRO on material compliance matters.

Regulatory & Licensing Support

• Contribute to the EMI licensing process with Latvijas Banka, including participation in regulatory interactions, fit-and-proper assessments, and the preparation of the institutional AML/CTF program.

• Support regulatory inspections, supervisory requests, and any remediation initiatives as required.

• Monitor relevant regulatory developments across the EU AMLD, EBA guidelines, FATF standards, and Latvian national legislation, and advise the Board accordingly.

Policy & Framework Development

• Provide guidance on the design and ongoing enhancement of AML/CTF policies, procedures, and governance structures appropriate for a regulated EMI.

• Act as a senior escalation point for significant financial crime issues referred by the MLRO or Compliance Officer.

• Contribute to the Company’s long-term regulatory and compliance strategy as the business grows and evolves.

🎓 Requirements:

• Bachelor's or Master's degree in Law, Finance, Economics, Risk Management, Compliance, Banking, Business Administration, or a related field.

• 5–10+ years of experience in AML/CTF, compliance, financial crime prevention, risk management, or regulatory oversight within a regulated financial institution.

• Previous experience as an MLRO, Head of Compliance, AML Director, Board Member, or senior compliance professional within an EMI, payment institution, bank, or regulated fintech.

• Demonstrated experience working with financial regulators and participating in regulatory inspections, licensing projects, or remediation programmes.

• Prior engagement with Latvijas Banka, FKTK, or other EU financial regulators will be considered a strong advantage.

• Deep knowledge of EU AML/CTF legislation, Latvian AML regulations, EBA guidelines, and FATF standards.

• Strong expertise in AML/CTF frameworks, financial crime risk management, sanctions compliance (EU, UN, OFAC), and regulatory governance.

• Solid understanding of Board-level oversight responsibilities, governance structures, and the distinction between non-executive oversight and operational compliance functions.

• Proven ability to review AML/CTF risk assessments, internal controls, monitoring frameworks, and financial crime risk management arrangements.

• Ability to successfully meet the Fit & Proper requirements of Latvijas Banka.

• Professional proficiency in English and Latvian.

✨ The Employer offers:

• Part-time Board appointment offering flexibility alongside other professional commitments.

• Opportunity to play a founding governance role in the establishment of a new Electronic Money Institution (EMI) licensed and supervised by Latvijas Banka.

• Direct involvement in the licensing process, regulatory interactions, and the development of the institution's AML/CTF and compliance framework.

• Opportunity to contribute to the long-term growth and governance of a regulated financial institution as part of an experienced international financial services group.

• Competitive remuneration and additional terms to be agreed during the selection process.