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Ongoing Support

End of Life

Keeping on top of regulatory developments and requirements can be time consuming and a distraction.  Callidus offers a full suite of compliance services designed to work with your existing resources and tailored to your specific requirements and budget. 

For more information on the next core area of Compliance services we offer, click here for End of Life.   ​

TOBA Management

We offer a tailored Terms of Business Agreement service - from merely maintaining the various registers to preparation of application packs for consideration by your security committee.

This service is ideally suited to Insurers and Intermediaries operating in the London Market, but it can also be applied to regional and overseas operations if required. We have developed our own platform for this service and currently manage nearly 15,000 TOBA’s for a variety of Clients.

Compliance Portal

Each of our Clients has the low cost option of accessing a range of compliance resources through a bespoke and dedicated compliance portal. This also acts as a document repository for Client work. A demonstration of this can be arranged.

Compliance Monitoring Programme

Callidus provides technical assistance in support of the Compliance Function either on specific projects or on an ad-hoc basis. This service is equally attractive to firms where Compliance is not the main responsibility of the person responsible for oversight or where there is existing resource which requires assistance ad-hoc or on a routine basis. Firms are effectively able to outsource a significant amount of their Compliance burden to Callidus, safe in the knowledge that it will be undertaken by professionals that are totally focused on fulfilling Clients' requirements. Where Clients choose this option, we undertake regular reporting and prepare a quarterly Compliance report on activities undertaken, regulatory developments and recommendations for the coming quarter. 

Areas where Callidus Regulatory Functional Support is most used:

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  • Preparation of Regulatory Applications (Lloyd's, PRA/FCA; Multi-jurisdictional)

  • Preparation of Regulatory Returns

  • Part IV Applications and Variations (Insurance Companies, Managing Agents, Brokers, Intermediaries and Hybrids)

  • Appointed Representative Monitoring

  • Licensing Projects – UK and International

  • Terms of Business Agreements

  • Preparation for Regulatory Visits

  • File Checking: Placement, Underwriting, Claims, Contract Certainty

  • Policy Drafting

  • Overseas Trading Enquiries

  • Procedural Documentation

  • Up to date Briefings on Regulatory Hot Topics

  • Preparation of Board / Committee reports

  • Raising staff awareness of Regulatory Issues

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We are also experienced in managing Conduct Risk projects in the Lloyd's Market and provide operational support, independent review and assurance to UK regulatory standards. This includes documentation review, drafting and training.

Regular Interaction

We pride ourselves on keeping you updated without overwhelming you with too much detail. Where we receive questions from the Regulator, we will generally prepare a draft response for your review and approval. Though you will be allocated an account manager who will be your principal contact, someone will always be on hand to ensure your enquiry gets dealt with promptly and by the right consultant.

Board Reports

We prepare quarterly Board Reports covering our agreed work programme, as well as issues of general relevance such as GDPR and BREXIT.

Regulatory Returns

This service is targeted at intermediaries including Lloyd’s Managing Agents which are required to submit periodic Retail Mediation Activity Returns (RMAR) to the FCA. Our in-house qualified accountants will work with you to review your financial reports from a regulatory perspective. We will provide support throughout the online reporting process or can take over the online reporting process for you if required.

RMAR Reviews include:

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  • Solvency calculations

  • Client Money calculation (where relevant)

  • Adequacy of Professional Indemnity insurance

  • Regulatory fees

Policy Digitisation and Maintenance

We are moving away from traditional paper based policies which are cumbersome to manage and time consuming to maintain in favour of a modern web based system with indexing and a search facility.  This is of particular interest to international Groups wishing to share common Compliance information, without the need for complex SharePoint structures.

Training

Whether for company wide presentations or individual sessions on specific issues, Callidus has been meeting the compliance training requirements for its clients for 14 years.  We will always tailor any training to meet your your specific needs and to ensure it is up to date.  Our training will generally qualify for CPD purposes and meet Regulatory requirements.  We will cover almost any area of Compliance where a client has a need, but examples of the training areas often provided are listed below:

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  • Money Laundering / Financial Crime

  • Raising Regulatory Awareness

  • Treating Customers Fairly

  • Succession Planning

  • Insurance Conduct of Business

  • Contract Certainty / PBQA

  • Systems & Controls

  • Introduction to the PRA and FCA for new staff

  • Duties of Directors and Approved Persons

  • Complaints and Claims Handling

  • Preparing for Regulatory Visits

  • Avoiding an E&O Claim

International Support

We are experienced in the establishment and maintenance of overseas offices, and in representing international clients in the UK. Whether setting up a new business or obtaining a trading licence, we manage the project from concept, through the application and ongoing implementation. Quality and consistency are ensured and costs are minimised by Callidus preparing the application on your behalf in the UK. We organise any required translations and notorisations and engage with selected local service providers (usually legal counsel) to finalise the submission and deal with queries as they arise.

 

We have extensive experience in tailoring a comprehensive suite of policies and procedures meet the specific needs of a business and in compliance with regulatory expectations.

UK Support

Whether assisting with a comprehensive or thematic regulatory review we can work with your team to ensure that the necessary information is prepared and individuals are in a position to cover the areas of focus that the regulator is likely to have.  Where action is required following a visit we will also provide any necessary support to implement this and/or respond to questions or issues raised.

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We can undertake background checks including from CCJ's and from the CRB on prospective Approved Persons to enable Clients to meet their PRA/FCA requirements. We can also undertake identity checks on customers to enable Clients to meet their KYC obligations.

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We are experts in undertaking new and "change in control" applications to the UK Prudential Regulation Authority, Financial Conduct Authority and Lloyd’s. Our experience covers establishing branches, insurance companies, Lloyd’s Managing Agents, Lloyd’s brokers, underwriting agents and other intermediaries together with the associated applications to the Information Commissioner, Consumer Credit Licencing and Passporting. We are able to draft and/or review the required business plan to ensure that it meets regulatory expectations. 

Functional Support

Callidus provides technical assistance in support of the Compliance Function either on specific projects or on an ad-hoc basis. This service is equally attractive to firms where Compliance is not the main responsibility of the person responsible for oversight or where there is existing resource which requires assistance ad-hoc or on a routine basis. Firms are effectively able to outsource a significant amount of their Compliance burden to Callidus, safe in the knowledge that it will be undertaken by professionals that are totally focused on fulfilling Clients' requirements. Where Clients choose this option, we undertake regular reporting and prepare a quarterly Compliance report on activities undertaken, regulatory developments and recommendations for the coming quarter. 

Areas where Callidus Regulatory Functional Support is most used:

 

Preparation of Regulatory Applications (Lloyd's, PRA/FCA; Multi-jurisdictional)

Preparation of Regulatory Returns

Part IV Applications and Variations (Insurance Companies, Managing Agents, Brokers, Intermediaries and Hybrids)

Appointed Representative Monitoring

Licensing Projects – UK and International

Terms of Business Agreements

Preparation for Regulatory Visits

File Checking: Placement, Underwriting, Claims, Contract Certainty

Policy Drafting

Overseas Trading Enquiries

Procedural Documentation

Up to date Briefings on Regulatory Hot Topics

Preparation of Board / Committee reports

Raising staff awareness of Regulatory Issues

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