When is additional compliance support required for your DFSA regulated Firm?

Regardless of the size of your Firm, the importance of knowledgeable and capable Compliance & Money Laundering Reporting Officer (MLRO) resources should not be underestimated. Compliance Officers and MLRO's are being challenged every day whether that is by workload, the complexity of issues or keeping up with the ever moving DFSA regulatory environment. No matter what the size of your Firm or your compliance department, Compliance Officers and MLROs continue to need expert assistance either for specific issues or day-to-day compliance requirements. As such, many firms turn to CCL’s team in the DIFC to provide a qualified, experienced and proven Compliance Consultant who can help them stay on top of the work, offer independent advice, or act as the compliance contact in the region.

Having CCL as part of your Compliance Team

Our team of experienced Compliance Consultants deal with a broad range of firms operating in a variety of financial sectors. Our job is to ensure that we bring knowledge, experience and pragmatic solutions to your Firm. Our Compliance Consultants won’t just identify problems we will assist you and your compliance department in meeting your regulatory obligations and provide comfort to your directors and senior managers as part of your Firm's internal systems and controls.

What level of support do I need?

No two firms are the same - the type and level of support will be tailored to your business activities, the compliance resources and the infrastructure currently available to your Firm.

For instance, if you have a CO/MLRO function but they are not resident in the UAE:

  • How do they discharge their regulatory obligations?
  • How do they keep up with the developments in the DIFC and changes to DFSA Rules?
  • How is the on the ground monitoring and reporting handled?

Or if you are a smaller firm, how do you maintain the independence of the CO/MLRO function?

And for larger firms, is there a need for any external expertise required to assist the current compliance team?

We can undertake a wide variety of Compliance, AML, Risk and Corporate Governance Assignments.

Below are a few of the key areas for which firms retain CCL:

  • Ad-hoc advisory, including updates on regulatory developments
  • Acting as the firms Deputy CO/MLRO to a non-resident CO/MLRO
  • On-going compliance monitoring
  • Client onboarding reviews either on a case by case basis or as part of an AML review
  • Review and testing of risk mitigants put in place

Choosing the right option for your DFSA Regulated Firm

We will tailor the services we provide to your business, whether that is a support contract, a one-off ad-hoc piece of advice on the latest DFSA rule changes or in some cases, full Compliance & MLRO Outsourcing may be more appropriate. To get started, simply contact our DIFC-based Compliance Consultancy Team and tell us what you need.

We have a dedicated team of experienced compliance consultants who can provide expert assurance and peace of mind. Get in touch to see how we can help your Firm.