MLRO

Outsourced Compliance Officer & MLRO

The importance of getting the right Compliance Officer cannot be underestimated in the highly regulated world of financial services.

The importance of selecting the right outsource provider

All firms in the Abu Dhabi Global Market (ADGM) regulated by the Financial Services Regulatory Authority (FSRA) require a Compliance Officer and Money Laundering Reporting Officer (MLRO) with sufficient knowledge, experience, and seniority to perform the role effectively. The importance of this function and getting the right person cannot be underestimated in the highly regulated world of financial services: getting it wrong could cost you more than the fine from the regulator. Firms, therefore, need an experienced person who can implement the regulatory requirements in a firm in a pragmatic way, as well as have the ability to communicate with all levels of the organisation.

Experienced Compliance Officers and MLROs

Chhokar & Co LLP will only provide consultants who have the relevant skills and experience to be a competent and effective Compliance Officer/MLRO. The outsource Compliance Officer/MLRO will be the Consultant most appropriate to your Firm’s business and to your requirements, whether that is a particular industry background or a specific Compliance or AML discipline. Our consultants will complete your ADGM team and work with you in getting it right. All of our consultants undertake regular training to ensure they have the most up to date knowledge as well as insight into industry best practice which they can bring to your Firm.

Scope of work – Compliance Officer and MLRO Function

While the Board and senior managers are ultimately responsible for the compliance of the firm with ADGM FSRA regulations, your outsourced Compliance Consultant will work with you to ensure these requirements are met as pragmatically as possible.

What should you do now?

Review the needs of your business as a regulated entity and the needs of your senior management in ensuring your business remains fully compliant with FSRA requirements. If you have concluded that the reputation of your Firm is systematically vital to your business, contact our outsourcing team to find the right Compliance/MLRO outsourcing solution for your Firm.

GET IN TOUCH WITH OUR EXPERT MLRO @ ma@chhokar.com