Compliance Support
It is not unusual for financial services businesses to experience a turnover of compliance personnel, which leaves them with temporary resourcing issues pending the arrival of permanent replacements. Whilst Cyan cannot undertake Key Person roles, we are often asked to support businesses on both a part-time or full-time basis.
Provision of hands-on support to key persons and directors;
Assistance with compliance monitoring and reporting;
Training of existing and new staff;
Design and execution of remediation work and other projects;
Financial Crime
Cyan is regularly requested to provide assistance to businesses on AML/CFT/CPF matters. We can help with the following:
Interpretation and advice on Jersey’s AML/CFT/CPF laws and regulations;
Advising on customer due diligence (CDD) matters;
Providing ad hoc or ongoing support to the MLCO or MLRO;
Undertaking reviews of clients and investors;
Corporate Governance, Remediation and Client Reviews
Businesses are increasingly seeking independent assessment of their compliance with regulatory requirements as the consequences of getting it wrong become more severe. We have recent experience in conducting:
Reviews of corporate governance including board effectiveness and the effectiveness of compliance risk management;
Preparation for JFSC examinations;
Client specific reviews;
Reviews to provide assurance over the completion of remediation work;
Policies, Procedures & Key Documents
It can take a surprising amount of time to produce and maintain comprehensive and tailored governance documents for a business. We have taken great care to ensure documents are operational and effective when we have assisted with:
Writing and reviewing policies and procedures;
Producing business risk assessments;
Formulating compliance monitoring programmes;
Technical Assistance & Advisory
The team at Cyan have significant and wide-ranging experience and knowledge of Jersey financial services regulation, having undertaken senior compliance and risk roles in industry as well as working for the regulator in both Supervision and Enforcement. We welcome all questions and enquiries, regardless of their nature and complexity and are happy to provide our initial views on a matter, free of charge.
Regulatory licence applications;
Managing communications with the JFSC on specific matters;
Financial resource and ANLA requirements;
Assistance with regulatory PQ applications and interviews.
Tailored Training
We are often asked to provide training on a wide range of matters. We like to tailor our training to the specific audience and type of business and welcome all requests for bespoke training. We have recently provided training on:
AML/CFT/CPF for new employees and senior management;
CDD requirements;
Topical matters raised in public statements or recent regulatory developments;
The responsibilities of directors and key persons;
Regulatory updates and reporting of themes/trends.