Outsourced Money Laundering Reporting Officer (MLRO) and Compliance Officer (CO) Roles in the UAE

What We Do

A growing number of businesses are choosing to outsource their key functions, including Compliance Officer, Money Laundering Reporting Officer, Finance Officer, Risk Officer or Data Protection Officer. Outsourcing some or all of these roles can mitigate risk, reduce cost and ensure compliance on a day-to-day basis with the requirements of the regulators.

JTC can offer some or all of these roles on an outsourced basis. Our team of experts has multi-jurisdictional experience and expertise as well as in depth knowledge of the UAE region. You gain access to a rich talent pool of experienced practitioners and cutting-edge technology without the associated costs. Our team keeps fully up to date with all new requirements and standards.

Our services include:

Compliance Officer and Money Laundering Reporting Officer

These functions are mandatory appointments for a business to obtain a financial licence within the DIFC and ADGM. The individuals must be UAE residents, and the two roles can be combined. Our services include:

• Acting as the main point of contact with the respective UAE regulatory body for a compliance or money laundering issue
• Maintenance of all required controls
• Preparation and submission of all required regulatory reports
• Completion of all KYC and DD checks
• Establishing policies, procedures and systems with the necessary supporting documentation
• Establishing an appropriate in-house training programme

Finance Officer

All regulated entities in the DIFC and ADGM are required to appoint an FO. Our services include:

• Preparation of financial projections
• Management reporting
• Cashflow management
• Valuation summaries
• Bank account reconciliation
• Bank statement sourcing
• Other ad hoc reporting as required
• Bookkeeping
• Preparation and submission of corporate tax returns
• Other client support services, as required

Risk Officer

This role is mandatory in the ADGM for any category 3C companies. Our services include:

• Implementation of a risk management framework
• Developing and implementing risk management strategies
• Establishing an appropriate in-house training programme
• Establishing risk management policies with the necessary supporting documentation
• Preparation and submission of appropriate board reports

Company Secretary

Our range of company secretarial services ensure our clients are compliant with requirements under the relevant companies law and regulations. These include:

• Maintenance of all material documentation and registers
• Preparation and maintenance of all statutory registers
• Drafting company resolutions
• Liaising with directors and shareholders where required
• Ensure that statutory filing and reporting is completed to required deadlines

Data Protection Officer

A key aspect of data protection legislation within the UAE is the appointment of a DPO. In some cases, companies are obliged by law to appoint someone to this role, particularly if they are dealing with high volumes of data processing. Our services include:

• Establishing and implementing policies relating to the protection of personal data
• Ensuring that all employees are aware of their responsibilities relating to the data protection rules
• Acting as the main point of contact with the respective Commissioner
• Completing an annual Data Processing Assessment
• Advising on the resolution of any data related issues