Setting up Compliance & AML Framework...
A client of Callidus is one among the first local Insurance companies in Dubai...
The Dubai branch of an UK based reinsurer outsourced its CO/MLRO function in 2010 following the departure of its in-house compliance officer.
Callidus Consulting was engaged to carry out the function on one day/per week contract i.e. 52 days/year.
Johnson John the nominated individual continues to serve as its CO/MLRO for the last 10 years and the client continues to use the services of Callidus as the firm has grown significantly in headcount and premium income.
This has resulted in significant cost reduction and other benefits to the client in the DIFC.
Factors that enabled this outsourcing:
Benefits of Outsourcing: