Our commitment to regulatory compliance and client-centric solutions drives Greenfields’ reputation for excellence and trust. Today, we sit down with Klaus Xhaxhiu, to discuss his career journey, industry insights, and vision for advancing compliance standards in Germany and beyond.
Q: What is your role at Greenfields?
Klaus: As Head of Compliance, my primary responsibility is ensuring that both Greenfields (GF) and our clients adhere to the highest standards of regulatory compliance. I lead the development of our Compliance and AML (Anti-Money Laundering) services in the German market, working closely with regulators and ensuring that we stay ahead of the curve in this ever-evolving landscape.
Q: How do your Compliance Services benefit clients?
Klaus: By providing Compliance as a Service, we help clients manage regulatory requirements effectively and without the need to develop in-house solutions from scratch. This is especially valuable for companies that have no compliance departments or if their teams are understaffed, as we provide end-to-end compliance management. With our tailor made services, we enable our clients to focus on growth and innovation while we ensure their compliance with local and international regulations.
Q: What is Greenfields’ AML solution?
Klaus: We provide expert professionals to assume the role of the Anti Money Laundering Reporting Officer (AMLRO or “Geldwäschebeauftragte”). This approach doesn’t just ensure compliance with regulations but also enhances security and operational efficiency. Such outsourcing solutions are cost-effective and eliminate the need for creating dedicated positions, reporting lines, and infrastructure within your own organization. We understand that AML compliance is a continuous process, so our solution adapts to emerging threats and regulatory changes, which helps clients remain confident in their compliance posture.
Q: Can you share more about your journey so far?
Klaus: My journey in compliance began over eight years ago in the banking and financial services industry, where I served in various Compliance and MLRO (Money Laundering Reporting Officer) roles. I’ve had the privilege of establishing compliance departments from the ground up at different organizations, including a German branch of a European bank and a Global Corporate Service Provider. This involved not only building the team but also implementing robust compliance monitoring systems and ensuring a smooth client onboarding process.
Q: How is the regulatory landscape evolving in Europe?
Klaus: The European regulatory landscape is constantly evolving, with an increased emphasis on transparency, accountability, and financial crime prevention. As regulations become more complex, financial institutions face new challenges and opportunities. For us at Greenfields, staying proactive means anticipating changes and preparing our clients for compliance shifts. I’m especially interested in how technology, including automation and AI-driven risk assessments, will continue to shape the compliance space.
Q: What excites you most about your work at Greenfields?
Klaus: What excites me most is being part of a dynamic organization that continuously evolves to meet new challenges. Our team brings a wealth of experience and a uniquely collaborative spirit, allowing us to respond swiftly and effectively. Every day, we push ourselves to help clients not only meet but exceed regulatory standards. Knowing that our work directly contributes to the integrity and transparency of financial markets is deeply satisfying.
Q: Any final thoughts on the future of compliance?
Klaus: Innovation will define the future of compliance. As regulatory frameworks become increasingly intricate, companies will need advanced, tech-driven solutions. At Greenfields, we’re already implementing these strategies and preparing for what’s next in compliance. It’s an exciting time to be part of this field.