Consulting is Callidus’ core business. Our consultancy is tailored to support insurers, reinsurers, coverholders and intermediaries on their various regulatory issues. In an ever-changing legal environment, clients require advice in a consistent basis and we ensure that our clients receive timely advice on all regulatory matters.
Our experienced consulting team possesses in-depth knowledge of DIFC(Dubai International Financial Centre), UAE(United Arab Emirates) and wider MENA region’s insurance related laws and regulations. We are able to provide practical solutions on day-to-day risk, compliance and regulatory issues.
We assist clients with full fledged application assistance both at the DFSA(Dubai Financial Services Authority) and DIFC(Dubai International Financial Centre) authority. The application process can be fairly complex depending upon the nature size and complexity of the business. Callidus has assisted insurers, reinsurers, intermediaries and coverholders with their application processes and has helped several businesses licensed.
The Regulatory Business Plan (“RBP”) is the roadmap for any business and there is a prescribed template to submit the same. We have assisted several clients in drafting their RBP and have provided valuable advice in terms of the regulators expectations. It is critical that the amount of detail in the RBP should be proportionate to the nature of the business to be carried out, and should be appropriate to your business risks.
Callidus assists firms who wish to outsource their Compliance Officer & MLRO functions. Our consultants currently support insurers, coverholders and intermediaries and act as the outsourced ComplianceOfficer & MLRO. We ensure that the organizations abide by both industry practices and government legislation.
We provide comprehensive Compliance Officer & MLRO services with a scope of service that includes Compliance Monitoring, KYC Documentation, Compliance & AML trainings, Establishing Compliance Policies, and Consultation on various regulatory aspects.
As part of the DFSA(Dubai Financial Services Authority) requirements, authorized firms are expected to have compliance manuals and policies outlining their systems and controls. We assist firms in drafting their compliance manuals, policies and procedures. Our compliance manuals are drafted with a focus on insurance businesses and does not include any requirement that is not relevant to the insurance business.
A compliance monitoring programme (“CMP”) enables a firm to identify the gaps and weaknesses in its systems and controls. Callidus’ compliance monitoring programme is designed to identify any such deficiency in the systems and controls.
Firms are expected to provide training to all their employees at the time of joining and a minimum of an annual training to all employees. As part of the services we provide, training is an integral part of all firms' compliance programmes.
Our training focus is on Anti-Money Laundering, Sanctions, Conduct of Business, General Module, PIB Module, PIN Module, Anti-Bribery & Corruption, and Admitted and Non-Admitted Restrictions.
Callidus also has a training division, Callidus Training Solutions which islicensed by the Knowledge and Human Development Authority.http://callidustraining.com/
KYC/AML screening is an integral part of Callidus’ services and we have a dedicated team undertaking a risk based KYC/AML/Sanctions screening for all our clients.
As insurance specialists, we carry out extensive KYC on Cedants, Reinsurers, Brokers, Coverholders, and additionally carry out single name checks on all original insureds for all facultative businesses. Our turnaround time for all checks is very prompt and enables firms to bind business at short notice.
Other than screening of entities and individuals against OFAC, HM Treasury and UN Sanctions lists, Callidus India also provides screening of entities or individuals that are linked to serious crimes, PEP and money laundering activities.
If you have an in-house Compliance/MLR Officer and wish to get a health check done, Callidus can undertake a Compliance Audit and issue a report. The terms of reference can be agreed on at the very outset and we are happy to have an onsite or offsite review undertaken.