MACO offers two levels of membership registration:
Being an individual member of MACO means you are part of the Association, in your individual and professional capacity, regardless of whether you maintain the same employment or change from time to time. Thus, membership follows the professional and is not latched on to the place of employment. Members are encouraged to be personally present at MACO, to ensure a seamless transition, when they get mobile.
An entity that operates in a FinServ, FinTech Gaming or associated industry or environment, may choose to be present at MACO as participant that does actively foster a culture of compliance on an ongoing basis.
Should a corporate want to be a MACO member, this would not stop the individual employees from joining in their individual capacity.
The foremost role of MACO is to raise awareness and knowledge about the function and role of the Compliance Officer and the Compliance Function, which after over a decade of practice remains one of the most misinterpreted and misunderstood components in FinServ and not alone. The educational curve by those already in the industry and those wanting to join is still rather steep.
Though locally appointed approved Compliance Officers do not have a mandatory Continued Professional Development/Education Program to follow, or at least one that is mandated by the supervisory authorities, it is understood that Compliance Officers are to remain Fit and Proper on an ongoing basis, or at least for the duration of their term of office in such capacity. Thus, it is upon the individual to ensure that he/she keeps adjourned and abreast with legal and regulatory developments in the particular sector/industry, but also market happens, which do have a bearing, despite not being tied down to any specific legal basis. It is also in the direct interest of the entity engaging such Compliance Officers to ascertain that adjournment and training is happening and upholds a good level of ‘Fit and Proper’, as would be expected by the respective competent authority. It is one of the main functions of MACO to foster and promote a culture ongoing training.
MACO distinguishes itself tom other Associations or Bodies that are more focused on the nature of the profession, in take MACO does cut across various industries and sectors within such industries and it includes within its remit a varied number of subjects. In this context, MACO is more flexible and fluid in adjusting to the requirements or current trends of the applicable industries. From time to time, members could and should be encouraged in voicing their concerns, interests and worries, so that MACO may pool such issues and seek address in a joint effort, even with the competent authority or office, as applicable.
If an individual is still working his/her way into the profession then, beyond networking opportunities and learning more about a career field, such individuals (particularly students) may also benefit from these aspects of professional associations:
Internship and job opportunities.
From time to time, MACO may be aware and have contacts where potential employees from operators looking to hire post open jobs or internships. Students may know what they want to do after graduation, but actually finding a job can be difficult. These listservs are a starting point and students can be confident that these are credible jobs.
Students may attend at a discounted rate and hear from keynote speakers in the industry. When students go for an interview, they can impress the employer by knowing all the trends in the field that they learned from the conference.
Information will be available about continuing education opportunities and new certifications. Professional associations often distribute an e-newsletter that keeps students informed about new statistics and best practices in the field. Webinars can be offered on hot topics as well.
Codes of ethics.
If students have not already picked up that credibility and trustworthiness are essential as a practitioner in a field, they will once joining the profession. It’s vital to understand these codes in order to know what is considered best practice and what is accepted in the industry.
Updates on policies.
It’s amazing how much one piece of legislation can impact a profession. A commitment by MACO is devoted to updating members about these changes. It will also advocate for the profession and notify members about how to prepare for any change.