A global MLRO must demonstrate a combination of leadership, problem-solving skills and a high degree of written and verbal communications ability.  This individual will work in a high-pressure, fast-paced environment and must display a facility for multi-tasking.  Not only must the global MLRO be able to work well in a team environment, he or she must be able to inspire others to cooperate and function as a team that understands the seriousness of the threat money laundering poses and the steps that need to be taken to ensure compliance with federal requirements.

The candidate needs an in-depth understanding of financial services, products and markets.  The individual must have a background that includes maintaining compliance with financial regulations and possess an understanding of the impact economic sanctions have on financial institutions.  As the officer responsible for assessing threat levels, the candidate must be comfortable working with minimal guidance, since he or she will be expected to grasp the intricacies of AML compliance requirements.  Attention to detail is absolutely mandatory – this individual will be responsible for the monitoring performance of others and, as such, should be willing and able to adopt a “no-stone-unturned” approach to the position.

The global MLRO also needs to have experience developing, initiating and maintaining compliance programs.  The candidate will need to display a record of long-term success in these endeavors.  It is preferable that the global MLRO candidate have a background in corporate training and adult education.  Candidates with degrees in business, finance and/or education are preferred for this position.

The skills and experience outlined above are crucial because the global MLRO will be relied upon to guide the firm in its AML compliance efforts.  Since there will be a minimal level of supervision, he or she must have the ability to act on initiative and be willing to assume responsibility for the company’s compliance program.  The firm’s managers will rely heavily on the global MLRO on a day-to-day basis, so a background that includes some experience identifying suspicious financial transactions, and sharing that experience with others, is absolutely essential.

As the firm’s last line of defense, the MLRO needs to exhibit a managerial-level of personal responsibility toward the company’s security.  It is to be hoped that the MLRO also exhibit a strong sense of community spirit that extends beyond the boundaries of the firm for which he or she works.  AML compliance has the force of law and can directly affect the firm’s future, but the larger issue is one of national financial integrity.  The more the MLRO candidate embodies loyalty to his or her nation’s security the better, it can be assumed, he or she will perform in the position.