The MCaaS CORE Risk Monitoring section was designed to strengthen Internal Decisions and safeguard operations through comprehensive entity oversight.
MCaaS CORE has been enhanced with a comprehensive Risk Monitoring section designed to empower users to take proactive risk mitigating measures across all Entities (Organizations, Vessels, and Corporate Officers). Accessible through the sidebar, Risk Monitoring has been designed to further elevate the platform's Risk Monitoring capabilities, enabling users to seamlessly identify entities subject to ongoing action.
This Risk Monitoring section enables users to:
Continuously Monitor: Keep a vigilant eye on selected Entities (Organizations, Vessels and Corporate Officers), ensuring daily oversight aligned with your organization’s risk management strategy and manage your active Continuous Monitoring subscriptions. The functionality has been further enhanced to support Admin Users.
Periodically Review: Establish a cadence for regular reviews, either at predefined intervals or customized to match your organization's risk appetite and internal requirements.
To learn how to subscribe and manage your Continuous Monitoring and Periodic Review subscriptions, please click here.
Whitelist: An Internal Decision functionality, helps to affirm entities that align with your risk tolerance, streamlining decision-making processes and ensuring compliance with internal criteria.
Blacklist: Another Internal Decision functionality, allows you to exercise caution by blacklisting entities that pose potential risks, allowing for prompt actions to safeguard against operational, compliance, and legal implications.
Consult Notes: Supports Internal Decisions by maintaining a comprehensive record of conclusions related to all Blacklisted and Whitelisted entities through notes, providing transparency and a clear risk-related audit trail. These notes serve as a historical record, guaranteeing a transparent decision-making process, even if the original submitter has left the organization.
Further enhancements to the platform has seen refinement of our Continuous Monitoring filters. We've introduced the option to meticulously filter data, allowing users to filter entities that contain hits related to Organizations, Corporate Officers or Locations, allowing for a more granular control over data in order to meet our customers' risk monitoring objectives.
MCaaS CORE Risk Monitoring represents a significant stride towards a comprehensive risk monitoring and assessment framework.
By aiding maritime players in identifying associated entity risks, MCaaS CORE contributes to informed decision-making, helping customers mitigate exposure to sanctions and regulatory risks. Simultaneously, it reinforces transparency within the maritime community, playing a pivotal role in the ongoing fight against corruption, money laundering and their predicate offenses.
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