Hiring an MLRO (PCF-52) in Ireland
PCF-52 is formally the Head of Compliance with responsibility for anti-money laundering and counter terrorist financing legislation. In practice, it's your MLRO: the person who answers to the board and the Central Bank for your financial crime controls.
What the MLRO does
In a typical EMI, payment institution or CASP, the MLRO:
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Owns the AML and CFT framework.
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Reports suspicious transactions to FIU Ireland and Revenue.
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Presents an annual MLRO report to the board on how well the framework is working.
What good looks like
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Hands-on experience in your business model. Card, remittance, crypto and B2B payments carry very different risks.
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Direct dealings with the Central Bank and FIU Ireland.
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Judgement under pressure. The MLRO makes the call on reporting, often fast.
Many firms ask for a financial crime qualification, such as the Professional Certificate in Financial Crime Prevention.
Combined or standalone?
Smaller firms often combine the MLRO with the Head of Compliance (PCF-12). As transaction volumes grow, a standalone MLRO usually follows. PCF-12 Hiring
Pay
Most MLROs in regulated FinTech earn €120,000 to €180,000 base, typically around €140,000, plus a bonus of 10% to 25% of base. Demand is rising ahead of the new EU AML authority's requirements. Salary Guide
Timeline and approval
No one can perform the PCF-52 role until the Central Bank has given its prior written approval. Allow around three months from engaging a search to contracts signed and notice handed in.
If your MLRO leaves suddenly, notify the Central Bank, put cover in place and start the permanent search straight away. Nexus Search usually shortlists interim MLROs within five days. [Link: /interim-pcf]
Recent MLRO appointments
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Head of Compliance and MLRO for a US digital assets exchange's EU entity
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Head of Risk and MLRO for a UK FinTech's Irish EMI
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Head of Compliance and MLRO for a payment institution