Old man character with European reformed felon (7)

I believe the answer is:

parolee

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'reformed felon' is the definition.
'parolee' can be an answer for 'felon' (parolee is a kind of felon). I am not sure about the 'reformed' bit.

'old man character with european' is the wordplay.
'old man' becomes 'pa' (both can mean someone's father).
'character' becomes 'role' (synonyms).
'with' is a charade indicator (letters next to each other).
'european' becomes 'e' (abbreviation e.g. EU).
'pa'+'role'+'e'='PAROLEE'

Can you help me to learn more?

(Other definitions for parolee that I've seen before include "Person no longer inside" , "One is released on conditions" , "One conditionally released" .)

I've seen this clue in the Sydney Morning Herald.

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