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“Each one of us can make a difference. Together we MAKE CHANGE.” – BARBARA MIKULSKI


he Gibraltar Association of Compliance Officers (GACO) and the International Compliance Association (ICA) have recently signed a significant partnership agreement. The ICA have been instrumental in the creation of standards of competence in anti-money laundering, compliance and financial crime prevention. These standards are used by firms and regulators globally as a vital contributor to the management of the risk function. Since 2004 GACO has been instrumental in creating a culture of compliance in Gibraltar and in making sure that all professionals in the finance sector obtain access to best in class training as well as allowing industry professionals from different economy sectors to share their knowledge and expertise. Therefore, it was a natural development GACO enter an agreement with ICA to enable us to share in their resources for the benefit of the compliance professionals in Gibraltar. GACO feels that this will add further to their professionalism and to ensure that as a Jurisdiction and economy sector we keep pace with international developments in legislation, regulations and best practices. The aim of this advertorial is to enable the local community to understand a little more about GACO and ICA, and to outline what the benefits of the joint relationship will be for GACO members, and indeed for any person or organisation confronted with money laundering (AML) or Combating Financial Terrorism (CFT) issues in Gibraltar, from this joining of forces. Participating in this interview are Tom Perry, Senior Membership Manager ICA and Carlos M. Martins, GACO Chairman.

Q: Tom, could you please further explain who ICA are? Tom: The International Compliance Association is a professional membership and awarding body. Founded in 2001 and headquartered in the UK, with offices in New York, Dubai and Singapore, we provide for the educational and continuous professional development (CPD) needs of regulatory, anti-money laundering and financial crime compliance professionals across a range of industries. Q: Carlos, could you please further explain who GACO are? Carlos: The Gibraltar Association of Compliance Officers (GACO) is the local association of Compliance professionals in Gibraltar and was created in 2004 with the aim of enhancing the role of compliance. At the same time, GACO is a forum for discussion for Compliance professionals facilitating the sharing of knowledge and expertise. We also act as a consultative body to the industry in any discussions with the Gibraltar Financial Services Commission, the Finance Centre, Government bodies and other stakeholders. We are further committed to provide our members access to the best possible training and educational programs in order to equip them with the necessary knowledge and skills to ensure that they comply effectively with local and international regulations and legislation. Q: Tom, what do you see as the ICA’s Mission? Tom: To help make the world more stable

and successful by inspiring, educating and enabling our global community of compliance specialists to perform to the highest standards of professional practice and conduct. Q: Carlos, what do you see as the GACO’s Mission? Carlos: GACO’s mission is to educate and prepare Compliance Officers and MLRO’s in Gibraltar so that they can develop the necessary skills and competences to allow them to create and manage effective risk management systems and compliance tools within their organisations. This will ensure that we continue to raise the jurisdiction’s reputation and hence allow us to further develop our economy in a sound, compliant and sustainable manner. Q: Tom, can you give us more information on what ICA does? Tom: ICA provides a wealth of knowledge, tools, resources and support for use at all stages of careers to both individual members and firms. For firms with teams of compliance professionals, we offer the opportunity to license these resources to our members who can then use them internally. Being a member of ICA’s global community demonstrates a commitment to the highest standards of practice and conduct, enhances your professional reputation and employability and significantly protects and improves the performance of your organisation. We are also proud to be recognised as the leading global provider of professional certified qualifications in regulatory and financial crime compliance.

The Gibraltar Magazine January 2018  
The Gibraltar Magazine January 2018  

New year, new issue. We're back, and we have some inspiring articles in store for you. On the cover this month is Colonel Blashford-Snell,...