Every month, thousands of queries go through our compliance screening: thanks to our new systems, this happens quickly and seamlessly.
At Monjasa, we have made significant investments in upgrading our compliance systems and in integrating them in the day-to-day of our business. Today, because of this, we meet and often exceed not only industry standards, but also compliance levels expected in the banking industry. Although supplying quality bunkers to our customers is the core of Monjasa’s business, dealing with the wrong company or supplying the wrong vessel these days can have critical effects on our ability to operate.
This is why the Compliance department has become fully integrated in our business workflow through counterparty and vessel screening systems at all offices.
Screening of IMO numbers
We have implemented systems that allow us to adapt to regulatory requirements in real time. In this sense, we have been one of the first bunker companies in the world to build work flows where our bunker traders can get full sanctions and compliance details on a vessel in less than a second by entering its IMO number at the stage of inquiry. We are at this point able to tell if this is a business we feel comfortable pursuing or not.
Moreover, compliance always checks for sanctions, adverse media, political exposure, and other risk factors before traders start dealing with a new customer or supplier.
Altogether, we have thousands of queries through our system, giving us the granular picture of the business that is required to ensure we are always compliant.
ISO-certified bunker operations
In January 2017, Monjasa also revealed the most comprehensive certified quality management set-up in the global bunker industry.