Global Presence:
MCaaS Compliance Analysts strategically operate across multiple global locations, leveraging local knowledge, experience, and language capabilities on a worldwide scale. Managing interactions with counterparts from diverse parts of the world poses no challenge for MCaaS, our Compliance Analysts often come from multinational and multilingual backgrounds.
Data Governance Principles:
The reporting is deeply rooted in key data governance principles, emphasizing the utmost importance of accuracy, integrity, and confidentiality. We recognize that the quality of our reports is directly tied to the reliability of the underlying data.
Learning from Industry Giants:
Drawing inspiration from industry giants such as GE, Microsoft, and Amazon, as well as insights gained from numerous banks worldwide, we understand the significant costs and ramifications associated with non-compliance and unstructured data.
Due Diligence Reporting:
Due diligence reporting is performed on Third-parties, Corporate Officers, Vessels, Locations and Cargo at different levels - Standard, Enhanced, and Enhanced Due Diligence Plus - tailored to meet diverse compliance requirements.
Data for the reports is meticulously collected from diverse sources, including Marcura’s transactional data, registry portals, open domains, third-party providers, and direct outreach with counterparties. Our teams possess unique knowledge in the maritime and associated industries, demonstrating an understanding of complex ownership structures, obscured offshore presences, and common methods employed to circumvent sanctions. All information undergoes thorough verification, enhancement, and cross-referencing against multiple sources before being incorporated into a comprehensive counterparty profile.
Counterparty Engagement:
When engaging with counterparties, we act on behalf of our customers, fostering collaboration to meet due diligence requirements. Most counterparties willingly cooperate, acknowledging the importance of maintaining or establishing a business relationship with our customers. In rare cases where challenges arise, we emphasize the significance of their cooperation in the due diligence exercise to create a robust organizational profile and mitigate potential or perceived risks. Our Customer Engagement Team brings extensive experience in various support and engagement functions, trained to discern subtle cues that may indicate reluctance or lack of transparency.
Handling Inaccurate Information:
In rare instances of counterparty reluctance or attempts to provide inaccurate information, similar to a notable example we encountered last March where our customer’s counterparty attempted to hide suspicious ownership, we take immediate action to identify, verify and alert our customers to any discrepancies. All information provided by counterparties undergoes rigorous verification and cross-checking against multiple sources.
Support for Counterparties:
For counterparties struggling to recognize the value of due diligence, we offer additional support by providing access to a comprehensive Help Center. This resource hub includes articles, white papers, advisories, and other educational materials aimed at fostering a deeper understanding of compliance.