The Unusual Skills Every Successful MLRO Needs (No, It's Not What You Think)

Ah, the life of an MLRO: an endless whirl of compliance checklists 📋, due diligence deep dives 🕵️♂️, and a never-ending stack of regulatory requirements 📚 that somehow always manage to multiply. If you’re anything like me, you’ve probably perfected the art of sipping cold coffee ☕ while drafting policies, debating with auditors, and wondering why ‘the unexpected’ is such a regular guest in our risk assessments.

But let’s not go over the usual laundry list of skills every MLRO must have: attention to detail, understanding of regulatory landscapes, strong communication. You know the drill. Today, I’m highlighting some unexpected, often overlooked skills that could be the secret sauce 🥄 to your success in this demanding role.

1. Curiosity—The MLRO's Secret Weapon 🕵️

Now, you might think, "Curiosity? Isn't that a soft skill for journalists, not compliance professionals?" But stay with me. Curiosity is the unsung hero in an MLRO’s arsenal, often buried under layers of regulations, SOPs, and risk assessments. Why? Because curiosity drives you to explore beyond the surface, to connect dots others might miss, and to dig deeper when something just doesn’t quite fit the picture 🧩.

When you hear “unusual transaction,” it's curiosity that leads you to ask, "But why?" It's that itch to explore the 'what ifs' and 'why nots' that helps uncover the true nature of a client's activity—before they make headlines for all the wrong reasons.

Curiosity fuels the extra 15 minutes ⏱️ you spend on that ambiguous invoice. It’s what drives you to understand not just the letter of the law but the spirit behind it, to spot trends in emerging typologies before regulators have even published their next set of guidance. And let's be honest, curiosity is what makes you sit through an entire webinar on the latest crypto regulations—out of sheer, unbridled fascination 🤓.

2. A Sixth Sense for Patterns 🧠

No, I’m not talking about paranormal abilities, although some days that might help! This "sixth sense" is more about pattern recognition. MLROs often need to spot the subtle signs of a bigger picture amidst a sea of data 🌊. It’s noticing that the same three countries keep popping up in seemingly unrelated transactions 🌍 or that a client's activity shifts ever so slightly from the norm.

This skill isn't about being psychic 🔮; it's about honing your instincts through experience and continuous learning. It’s what allows you to say, "Something’s not quite right here," even when you can’t quite put your finger on it—yet. Call it what you want: a hunch, a gut feeling, or plain old instinct. It's often the first step in unraveling complex money laundering schemes 🕸️.

3. A Dark Sense of Humour 😅

You read that correctly. A good MLRO needs a dark sense of humour to thrive (or at least survive). Let’s face it: when you’re knee-deep in suspicious activity reports, endless policy revisions, and the occasional Kafkaesque regulatory change 🌀, a sense of humour is essential. It’s the psychological pressure valve that prevents burnout and helps you find the lighter side of even the most absurd compliance conundrums.

Those times when you discover yet another dubious shell company named "Totally Legit Ltd."? That’s where your dark humour kicks in. Laugh it off, shake your head, and get back to work 😏. Having this mindset doesn't just make the daily grind bearable; it makes you a resilient problem-solver, able to handle high-pressure situations without losing your sanity (or your coffee ☕).

4. Storytelling—Yes, Really! 📖

What does storytelling have to do with compliance? More than you’d think! An MLRO often needs to explain complex scenarios to people who don’t live and breathe compliance. Whether it’s the Board of Directors, frontline staff, or regulators, you need to paint a vivid picture of the risks involved and the steps taken to mitigate them 🎨.

Storytelling means taking the tangled web of data, regulations, and risk assessments and weaving it into a coherent narrative that people can grasp—and remember 🧶. It’s the difference between giving a dry report on "unusual transaction patterns" and explaining how those patterns could, for example, finance illicit activities that directly impact communities 🌐.

5. The Patience of a Saint 🙏

We’re not just talking about sitting through hours of training or policy writing (though that too!). The patience of an MLRO is tested in countless ways: waiting for responses from third parties 🕰️, dealing with slow-moving regulatory changes, or revisiting the same client due diligence process for the fifth time. Patience means calmly explaining, again, to a senior executive why “just this once” isn’t an option when it comes to compliance.

This patience isn't passive; it’s active. It's the ability to keep pushing forward, inch by inch 📏, to ensure that standards are upheld and risks are managed. It's what allows you to listen—really listen—when colleagues raise concerns, ensuring that nothing slips through the cracks.

The Hidden Edge of a Great MLRO 🌟

These unusual skills—curiosity, pattern recognition, a dark sense of humour, storytelling, and saint-like patience—might not top the list of standard MLRO requirements, but they’re the linchpins that separate the good from the exceptional. In a world where compliance is constantly evolving and where financial criminals are getting savvier 🕳️, it’s often these less obvious qualities that lead to true success.

So, the next time you’re knee-deep in CDD reviews or drafting your third policy of the week 📑, remember: it’s not just about ticking the boxes. It’s about nurturing these hidden skills—the detective who can’t help but dig deeper 🕵️♂️, the strategist who can see patterns in the noise, and the storyteller who can make compliance matter to the entire business.

Now, if you'll excuse me, I've just spotted an oddly named shell company, and my curiosity (and dark sense of humour) is tingling… 😏🔍

#AML #MLRO #ComplianceLife #StayCurious