A new alliance between two Caribbean companies is aiming to strengthen the compliance services available in the region.
Cayman’s Global Compliance Solutions and Antigua-based KAW Management Services Limited have entered into a strategic partnership. The intent is to provide enhanced compliance services in the Caribbean region. Under the new alliance, the companies will collaborate on projects and provide cross-training for their respective jurisdictions.
The partnership was announced at KAW’s first anti-money laundering and compliance conference, where GCS Managing Director Karen O’Brien delivered two keynote presentations.
Established in 2005, Global Compliance Solutions services clients throughout the Caribbean and the Middle East. The company provides outsourced compliance services which include regulatory consulting, anti-money laundering and anti fraud training, internal reviews, due diligence training, and investigative services.
“The timing could not have been better for my company and this is the second strategic alliance in the last four months that we have formalized,” Ms. O’Brien said, adding that she is extremely pleased to be formalizing this relationship with KAW.
‘I believe there are significant benefits to both companies here, which will be passed on to our clients. The concept of outsourcing, especially as it relates to regulatory matters, has positioned us to capture an ever growing market trying to keep up with the increasing demands of regulators. With the additional resources, both of our companies can now offer a wider range of services and avail ourselves to the unique skill sets of one another’.
Kem Warner, Managing Director of KAW said that in today’s environment, when the need for compliance is greater and companies are forced to cut costs, outsourcing of functions such as regulatory matters, compliance, anti-money laundering and anti fraud training is a wise and viable option.