Compliance Solution
in United Arab Emirates
GRC refers to governance, risk management, and compliance to ensure organizational objectives are achieved with integrity and proper protocols.
Governance, risk management and compliance (GRC) is the term covering an organization’s approach across these three practices: governance, risk management, and compliance. They are three related facets that aim to assure an organization reliably achieves objectives, addresses uncertainty and acts with integrity and ensure perfectly proper in place.
We have expertise and experience to provide GRC solutions for financial institutions those ABM Global Compliance is a member of ABM Consulting Group, established in 2007 in London, UK. ABM is a Global AML consulting firm that has been phenomenal in helping clients across the EU, UK, UAE, especially whose operations are subject to the implementation of Anti Money Laundering programs and Risk Managements With extensive knowledge and diversified experience, our Chartered Certified accountants, Financial service law and regulations Experts and industry specialists are capable to understand the risk and provide plan and policies to financial institutions that are struggling to comply UAE AML and CFT law.
Compliance Services in UAE
Corporate Governance
Corporate governance is the system of rules, practices and processes by which a company is directed and controlled. Corporate Governance refers to the way in which companies are governed and to what purpose. It identifies who has power and accountability, and who makes decisions.
Your Firm’s ability to demonstrate a robust corporate governance framework to promote the sound and prudent management and oversight of your business is crucial to meet regulatory expectations, mitigate risk, protect the interests of your customers and stakeholders, and contribute to long-term sustainable growth for your business.
Canada Business Corporations Act provides the guidance to the companies in relation to board management and minimum legal requirement for the corporate companies to operate.
How can we help you?
Good corporate governance sets the tone of how an organisation operates. ABM and its experienced team have the comprehensive expert knowledge to provide practical, tailored corporate governance solutions.
- Conducting corporate governance gap analysis
- Advising on board and committee structure, membership, conduct, operations and performance
- Tailoring board and committee terms of reference
- Tailoring corporate governance policies and procedures that promote effective and prudent management and oversight
- Tailoring remuneration policies and procedures that ensure sound and effective risk management
- Defining relationships and mapping responsibilities between the board and senior managers to evaluate apportionment, identify conflicts and determine areas where competencies can be enhanced
- Evaluating the adequacy of management information and reporting frequency
- Providing corporate governance training to the board and senior managers
- Providing company secretarial services
Banking Services Availability:
Risk Management is an essential component of the overall corporate governance and internal control structure of an institution. Regulators would expect all regulated firms to have an enterprise-wide risk management process appropriate to the nature of the business undertaken. That process will clearly be more stringent for institutions which are taking deposits or trading than it would for firms which are providing advice or arranging transactions.
The key components of comprehensive Risk Management Framework
- The tone from the top, i.e., the active involvement of the board in the risk management process, including setting the risk appetite of your Firm
- An appropriate Risk Management infrastructure, reflecting clarity of responsibility and accountability, together with independent oversight of the risk management framework, all of which should be supported by documented procedures
- Identification of all risks relevant to your Firm
- Assessment of the potential impact of each identified risk and an estimate of the likelihood of occurrence of such risk
- Controls to manage or mitigate those risks
- Testing of controls to ensure they are operating effectively, and remediating or enhancing the control environment when deficiencies are identified.
- Reporting to senior management and the board.
How can ABM help?
ABM has extensive experience in assisting firms to create, develop and maintain their risk management systems. The nature of assistance can be tailored to your specific needs and can include:
- Advice on the design of your Risk Management Infrastructure.
- Reviews to determine the effectiveness of your Enterprise Risk Framework.
- Assistance in the preparation of the Risk Register.
- Assistance in the preparation of your Internal Risk Assessment Process (IRAP) and Internal Capital Adequacy Assessment Process (ICAAP).
Money Transfer & Remittance Business:
With the financial services industry continuing to experience waves of significant regulatory change, it is difficult for firms to digest new regulation, design and implement controls to manage the changing landscape, whilst providing assurance to senior management and regulators that the controls are robust and effective.
We have been providing compliance and regulatory consultancy services to firms in the Middle East for more than 10 years from our offices in Dubai and Abu Dhabi. Across our Group, which started in 1988 with our first office in London, we have helped thousands of firms to understand regulations and how they apply to their business. We have an exceptional track record in helping firms develop controls to meet their regulatory requirements and to operate successfully in demanding regulatory regimes.
Our experienced team of consultants can provide you with sensible, efficient and effective solutions to managing regulatory risk on a range of areas including:
We can assist domestic fintech start-ups, money transfer start-ups, incumbent money transfer/payments companies from outside the US, and plain vanilla payments companies that fall under the umbrella of a money transmitter.
- Assurance Reviews
- Compliance Remediation
- Data Protection
- Financial Crime Prevention
- Corporate Governance
- Risk Management
- Prudential Rules & Regulatory Reporting
Anti Money Laundering Compliance Services
Following are the services we offer related to Anti-Money Laundering (AML) and combating the Financing of Terrorism (CFT):
- Compliance Policy and procedures
- Assessment of tools and controls design
- Current AML Policy review
- AML/ KYC/ CFT Plan and framework
- AML audit and reporting
- AML audit and reporting
- Anti-corruptions and financial frauds frameworks
- Corporate Training
Who are our customers for AML Compliance Services in UAE?
Our existing AML compliance clients are from the following industries:
- Banks
- Real estate brokers and dealers
- Money transmitters
- Money transmitters
- Law firms
- Financers and investors and their advisors
Are you looking for MLR & FCA compliance support in United Arab Emirates?
World class training in Governance, Risk and Compliance
Workshops, role-based courses & e-learning for the Middle East’s financial services industry:
We are a specialist provider of Governance, Risk and Compliance (GRC) training, designing and delivering practical, risk-based training focused on embedding the correct skills and behaviour in your staff. We have a range of delivery options:
- Regular public courses: Most of our key programmes are included in our public training schedule in Dubai.
- Inhouse training: when you have a group to train or you need a bespoke course for your Firm.
- eLearning - off the shelf and customised solutions: we have a library of eLearning modules, as well as customised material written by our inhouse subject matter experts.
We provide trainings:
We provide Professional Training which covers the following topics:
- Compliance
- Anti-Money Laundering (AML) & Financial Crime Prevention
- Rules & Regulations
- Senior Management and the Board
- Risk Management
- eLearning
- Compliance Training Consultancy
Our Specialized
Services
ABM Consulting Group PLC specialised services assist the financial service providers not only successfully secure the licence but also ensure the compliance during the operations and complying with their ongoing regulatory requirements. ABM Consulting Group PLC also assists the FINTECH companies to expand its operation through payment and card schemes.
- Licence authorisation from FCA
- Annual Compliance Audit.
- Ongoing compliance monitoring.
- SWIFT and SEPA payment schemes.
- Principal and associate membership of Visa and MasterCard schemes.
