The Importance of Strategic Hires When Setting Up a Regulated Entity in Ireland's FinTech and Financial Services Sectors

As Ireland continues to grow as a hub for FinTech and Financial Services, many companies are looking to establish regulated entities here. From a hiring perspective, the importance of getting your first couple of hires right cannot be overstated, especially when operating in such a highly regulated space.

When setting up in Ireland, the Central Bank will be a key regulatory body, particularly if you are operating in the FinTech or financial services sector. If you’re familiar with the regulatory environment, you’ll likely already know the significance of PCF (Pre-Approval Controlled Function) roles. These are the senior roles within your organisation that require prior approval from the Central Bank, as they carry high levels of responsibility and oversight.

Typically, your first PCF hire will be a “Country Manager” or a similar senior leader. While the title may vary depending on your structure, the role’s function is paramount. This individual will act as the face of your organisation in Ireland and set the tone for your entire operation. A highly skilled and experienced leader in this role ensures that your entity is in good hands as it navigates the complexities of the local market and regulatory framework.

Your second hire is just as critical. You’ll likely need a combination of Head of Risk / Compliance /  Money Laundering Reporting Officer (MLRO). In many cases, this could be a single role covering multiple responsibilities, particularly in the early stages of your setup. Risk and compliance are cornerstones of any regulated financial services business, and having a strong leader in this role is essential to ensuring that your entity adheres to all necessary regulations while also being able to scale effectively.

What many companies overlook is that these two initial hires will shape the future of your organisation in Ireland. Whether you're aiming to build a large operation with multiple functions or keeping it smaller in scale, these roles are foundational.

Beyond their immediate responsibilities, these individuals’ professional networks will likely play a key role in your subsequent hiring decisions. The FinTech and Financial Services industries in Ireland, while rapidly growing, remain relatively tight-knit. The quality of these first hires will not only impact your ability to establish credibility with regulators and clients but also influence your ability to attract top talent in the future.

At Nexus, we’ve seen time and again that companies who invest in diligent search and selection processes for their first hires go on to establish successful, scalable operations in Ireland. It's not just about finding candidates with the right qualifications on paper, but ensuring you’ve covered the entire market and found individuals who can effectively drive your business forward.

When setting up in Ireland, it’s crucial to go beyond simply posting a job advert and hoping for the right applications. Instead, comprehensive due diligence and a strategic search process are needed to secure the right leadership and set your organisation up for long-term success.

At Nexus, we specialise in identifying and placing senior talent within FinTech and Financial Services sectors, focusing on leadership roles that are critical to the success of regulated entities. With our extensive market knowledge and network, we ensure that you find the right leaders to anchor your organisation's growth and stability in Ireland.

---

This blog post ties in closely with the video you’ll see here, where I discuss the significance of making your first two hires when setting up a regulated entity in Ireland.

---

At Nexus, we specialise in executive search services, focusing on senior-level hires within the FinTech and Financial Services sectors. With years of experience and deep connections across Ireland, we help organisations find the talent they need to drive success in a competitive market. Whether you are launching a new entity or expanding your team, we are here to ensure you get the right leadership in place.