Outsourced Compliance Officer & MLRO Services for Regulated Entities:

Experienced Compliance Officers & Money Laundering Reporting Officers (MLRO)

We specialise in providing outsourced Compliance Officers and MLROs to the DFSA and FSRA-regulated firms in the UAE.

Firms regulated by, or seeking authorisation from, the DFSA or FSRA must appoint a Compliance Officer (FO) and a Compliance & Money Laundering Reporting Officer (MLRO) registered with the respective authority. These roles must be filled by individuals possessing the necessary qualifications, experience, and seniority level.

While it is mandatory for most regulated firms operating within the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) to have these roles, it is not always cost-effective to maintain them as full-time positions. We offer outsourced services to ensure compliance with all regulatory and reporting requirements.

The regulator permits businesses to outsource the roles of Compliance Officer and MLRO, depending on their scale and complexity. Many firms in the DIFC and ADGM chose to outsource these functions. This approach provides flexibility and necessary expertise without the financial burden of a full-time resource, given the size and complexity of their business operations.

Our team of outsourced Compliance Officers and MLROs possess the skills and experience to be effective and constructive for your organization. Our consultants will integrate seamlessly with your team, ensuring your firm complies with all relevant regulatory requirements.

Key Considerations while assessing your outsourcing needs:
  • Do you have a qualified individual to assume the role of Compliance Officer/MLRO?
  • Does your compliance function possess specific regional knowledge and expertise
  • Do you need a full-time resource for this role?
  • Do you have in-house compliance function that is sufficiently independent from the business operations?
  • What are the roles and responsibilities of an outsources compliance & MLRO function?
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Outsourced Finance Officer (FO) Services for Regulated Entities:

Firms regulated by, or seeking authorisation from, the DFSA or FSRA must appoint a Compliance Officer (FO) registered with the respective authority. These roles must be filled by individuals possessing the necessary qualifications, experience, and seniority level.

While it is mandatory for most regulated firms operating within the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) to have these roles, it is not always cost-effective to maintain them as full-time positions. We offer outsourced services to ensure compliance with all regulatory and reporting requirements.

The regulator permits businesses to outsource the roles of Finance Officers depending on their scale and complexity. Many firms in the DIFC and ADGM chose to outsource these functions. This approach provides flexibility and necessary expertise without the financial burden of a full-time resource, given the size and complexity of their business operations.

Our team of DFSA and FSRA approved Finance Officers possess the skills and experience to be effective and constructive for your organization. 

Our finance officer will integrate seamlessly with your team, ensuring your firm complies with all relevant regulatory requirements.

The usual role and responsibilities of a finance office include following:

  • Review your accounting processes and systems to ensure compliance with applicable rules and regulations.
  • Prepare and deliver month-end financial reports (balance sheet, P&L, and cash flow) to management and the board.
  • Control and monitor your capital and liquidity resources.
  • Prepare and submit quarterly and yearly prudential reports.
  • Act as your regulatory point of contact for financial matters.
  • Liaise and coordinate with internal and external auditors regarding mandatory year-end audit reports.
  • Prepare and maintain updated budgets and scenario stress tests.
  • Assist with developing accounting and finance policies and manuals.
  • Support the Risk Officer in preparing risk management reports.
  • Assist in preparing IRAP and ICAAP reports.
  • Attend board meetings and other relevant meetings where impactful measures to capital and liquidity resources are discussed.
  • Provide financial advisory support to the Senior Management Team.
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Outsourced Risk Officer for Regulated Entities:

Firms regulated by the DFSA and FSRA require a Risk Officer with relevant experience to oversee the Enterprise-wide Risk Management framework and ensure compliance with the relevant regulations.
While it is a requirement for certain type of firms operating within the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) to have these roles, it is not always cost-effective to maintain them as full-time positions. We offer outsourced services to ensure compliance with all regulatory and reporting requirements.
Tasks performed by the Risk Officer:
  • Advising the Board and senior management on risk management and assisting in risk assessment.
  • Supporting the compliance function in regulatory/compliance risk management, including building second-level controls ("bottom-up" controls) and creating risk awareness.
  • Establishing internal risk policies and structures for business units.
  • Being responsible for the operational risk management function within the firm.
Why hire an Outsourced Risk Officer? Outsourcing the Risk Officer role allows your company to concentrate on core business activities without worrying about regulatory requirements and obligations. This approach is also more cost-effective and efficient. At JRB, we have developed strong relationships with many clients who trust us as their preferred choice for outsourced Risk Officer services.
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