Changing prospects – the MLRO role

“No one wants to be the MLRO anymore. You work very hard to get to the top of the industry and when you’re there you can’t give the CF11 [1] title away”: it wasn’t exactly an upbeat opening from Edward Maguire at the AMLP Forum’s European AML & Financial Crime Conference but he has good claim to make it as regional head of AML for EMEA and UK MLRO at Deutsche Bank. The risk looks all “downside”, he said, focusing on three specific areas - how the role is changing, personal liability and de-risking: “the bad news is there’s no silver bullet” but there was cold comfort at least in knowing that the challenges were shared across the industry.