Page 66 - March 2022 Issue 604 Part 2

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Johnson John (Principal – Callidus Consulting MENA)

Consulting is Callidus’s core business and it is tailored to
support insurers, reinsurers, coverholders & intermediaries

Johnson John, Principal of Callidus Consulting MENA, was among the prominent people who
participated at the dubai world insurance conference (DWIC) along with several of his col-
leagues. In a Q & A on the sidelines of the event, Al Bayan Magazine met Mr. John and conducted
the following interview in which he gave us an idea about their company and talked about the main
services they provide. He further shed light on their expansion plans.

* Can you give us an idea about your com- wider MENA region’s insurance related laws controls. We assist firms in drafting their com-
pany? and regulations. We are able to provide practi- pliance manuals, policies and procedures. Our
- Callidus Consulting is a niche compliance cal solutions on day-to-day risk, compliance compliance manuals are drafted with a focus
practice based in Dubai, UAE. Established in and regulatory issues. We also assist clients on insurance businesses and do not include
2010 provides regulatory compliance related with full-fledged application assistance both at any requirement that is not relevant to the
services to insurance related business in the the DFSA (Dubai Financial Services Authority) insurance business. Firms are expected to pro-
Dubai International Financial Centre and main- and DIFC authority. The application process vide training to all their employees at the time
land UAE, London and other parts of the world. can be fairly complex depending upon the of joining and a minimum of an annual training
If anybody wants to set up an insurance com- nature size and complexity of the business. to all employees. As part of the services we
pany, insurance broking firm, coverholders, Callidus has assisted insurers, reinsurers, provide, training is an integral part of all firms’
Lloyd’s brokers and other primary and sec- intermediaries and coverholders with their compliance programs. Our training focus is on
ondary intermediaries operating world-wide, application processes and has helped several Anti-Money Laundering, Sanctions, Conduct of
both active and in run-off. businesses licensed. The Regulatory Business Business, General Module, PIB Module, PIN
Plan (RBP) is the roadmap for any business Module, Anti-Bribery & Corruption, and Admitted
* Is it easy to work with companies or there and there is a prescribed template to submit the and Non-Admitted Restrictions. Callidus also has
are some regulations that must be applied? same. We have assisted several clients in a training division, Callidus Training Solutions
- It is all very clearly defined. Most of the firms drafting their RBP and have provided valuable which is licensed by the Knowledge and Human
who are coming here are from other markets. advice in terms of the regulators expectations. Development Authority.
Some are broking firms who have worked as It is critical that the amount of detail in the RBP
brokers in other markets. It is fairly easy and all should be proportionate to the nature of the * Dou you have any expansion plans?
clearly defined concerning how much the capi- business to be carried out, and should be - We are considering opening an office in Cairo,
tal is for starting a broking firm & who are the appropriate to your business risks. In addition, Egypt. Saudi Arabia is another market we are
people you need to hire. Callidus assists firms who wish to outsource looking to expand especially that there are a lot
their Compliance Officer & MLRO functions. of opportunities there. At the moment we have
* What are the main services you provide? Our consultants currently support insurers, cov- offices in UAE, India and London.
- We assist with the license processes and there erholders and intermediaries and act as the
is an interview by the regulator which one should outsourced ComplianceOfficer & MLRO. We 230
attend in person through Callidus so we are ensure that the organizations abide by both
authorized by regulator to provide this service. industry practices and government legislation.
Moreover, consulting is Callidus’ core business. We provide comprehensive Compliance Officer
Our consultancy is tailored to support insurers, & MLRO services with a scope of service that
reinsurers, coverholders and intermediaries on includes Compliance Monitoring, KYC
their various regulatory issues. In an ever- Documentation, Compliance & AML trainings,
changing legal environment, clients require Establishing Compliance Policies, and
advice in a consistent basis and we ensure that Consultation on various regulatory aspects. As
our clients receive timely advice on all regula- part of the DFSA requirements, authorized
tory matters. Our experienced consulting team firms are expected to have compliance manu-
possesses in-depth knowledge of DIFC and als and policies outlining their systems and

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