Wellington-based firms Dynamique and Compliance Plus have teamed up to launch a new all-inclusive anti-money laundering (AML) and continuing professional development (CPD) service to the NZ and UK markets.
Branded as ‘Maxima’, the joint project will provide financial services firms in both jurisdictions with access to both AML compliance and a wide range of professional CPD training programs.
Guy Dobson, Dynamique managing director, said Maxima offered a novel compliance solution for financial services firms operating in an era of regulatory overload.
“This new state-of-the art platform will enable us to provide that unique fusion of the essential statutory compliance with career-enhancing continuing professional development in New Zealand and the UK, where Dynamique started off,” Dobson said.
Established in the UK more than 10 years ago, financial services training specialist Dynamique is now headquartered in NZ with offices in both countries.
Compliance Plus was founded almost four years ago by former Financial Markets Authority (FMA) AML/Countering Financing of Terrorism (CFT) expert, Uddhav Kirtikar.
Kirtikar was “lead writer for most of the AML/CFT guidelines published jointly by the Financial Markets Authority, Department of Internal Affairs and the Reserve Bank of New Zealand,” the group’s website says.
“He also assisted in designing the templates and process that FMA used when it commenced its AML/CFT supervisory work.”
Kirtikar said working with Dynamique was a logical step in the evolution of the business for both parties.
“Maxima will take us to whole new level, benefitting our clients, helping them better support their business models and own clients,” he said.
In addition to initial and ongoing AML/CFT audits, Maxima clients will have access to CPD training courses covering a diverse range of topics including: derivatives and synthetics; absolute return and hedge fund strategies; equity analysis and corporate valuation; global investor services; currency management; as well as ‘starter level’ options.
“Over time more courses will be added drawing on the best of breed from UK and New Zealand markets,” Dobson said.
According to Kirtikar, all Maxima services were provided on a technology platform backed by industrial-strength software Captivate 9 and Prime LMS, enabling a smooth interface with “banks and other risk concerned institutions in-house systems within a very short time frame”.
“Maxima’s AML/CFT training will also be applicable to all groups covered by new AML/CFT Tranche 2 legislation coming into effect in November this year in New Zealand,” he said.
In March, Dynamique also hooked up with UK-headquartered portfolio analytics firm StatPro to promote its system in NZ.