PCF hiring for EMIs and payment institutions in Ireland
Nexus Search works with Central Bank regulated EMIs and payment institutions on their PCF, leadership and board appointments. That includes firms going through authorisation, growing firms adding senior people, and established groups planning succession. Every search is led personally by Paul Smyth.
Senior people with Irish payments experience and a Central Bank approval behind them form a small, well-connected group. Finding them is rarely the hard part. Engaging the right person, getting them approved and getting them into the seat is.
PCF and leadership appointments
The most common PCF appointments in payments are:
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CEO (PCF-8)
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Head of Finance or CFO (PCF-11)
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INEDs (PCF-2B), Chairs (PCF-3) and committee chairs
Nexus Search also works on other PCF and senior leadership hires across operations, finance, technology and commercial teams.
What the timeline looks like
No one can perform a PCF role until the Central Bank has given its prior written approval. For most applications this is quick: in H1 2024, PCF applications not linked to a firm authorisation averaged 28 calendar days.
Allow around three months from engaging a search to contracts signed and notice handed in, with the approval running alongside the notice period.
How Nexus Search helps
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Engaged search for permanent PCF and leadership hires.
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Interim and fractional cover when a PCF holder leaves. Where a Temporary Officer covers a permanently vacated role, the PCF application is due within 3 months, so the interim and permanent searches run side by side.
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Nexus Bench, an external succession plan for your PCF seats: a named market map refreshed every six months, an annual board paper on bench strength, and first call on interim cover.
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The PCF Readiness Check, a free five-minute self-assessment.
Selected appointments in payments
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Country CEO for a UK FinTech establishing its Irish EMI. The CEO then brought Nexus Search back for the Head of Compliance, and the Head of Risk and MLRO. Case Study
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INED and Audit and Risk Committee Chair for a payment institution after M&A. Case Study
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CEO and CRO for an e-money institution.
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Head of Compliance and MLRO for a payment institution.
Common questions
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How long does a PCF hire take for an EMI? Around three months from engaging a search to contracts signed and notice handed in. The Central Bank's approval usually runs alongside the notice period.
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Can one person be Head of Compliance and MLRO? Many smaller EMIs and payment institutions combine the two. Whether it suits your firm depends on your size, risk and complexity. Paul will give you a straight view before you decide.
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Our MLRO has resigned. What now? Notify the Central Bank, arrange cover and start the permanent search straight away. Interim shortlists usually come within five days.