If you own the game on Steam, launching Steam as administrator before launching Max Payne 3 often prevents this error from returning.
The Nostalgia Killer
You’ve just reinstalled Max Payne 3 to relive the bullet-time action in São Paulo. You click "Play," anticipation high—only to be greeted by a small, frustrating error box: Or worse: "Failed to load GSRLD.dll." max payne 3 error gsrld.dll failed to load