Moving Energy
Responsibly
30,124
Business Counterparties
Screened (2022)
20+
Members of the Compliance Team
873
New Counterparties
Onboarded (2022)
Compliance
During the last decade, Gunvor has spent millions of dollars building an industry-leading Compliance Department. Our teams work continuously to improve company procedures to mitigate risks and anticipate others that exist within the commodities trading sector. Our goal is to maintain the highest ethical standards and comply with all relevant rules and regulations wherever we operate.
Governance
Gunvor’s Compliance Department is bound by strong corporate governance, which provides a robust process for identifying risks and sound oversight to ensure effective risk mitigation. The Group Compliance Committee (GCC) oversees Group’s Compliance activities. The GCC includes senior members of Gunvor’s Executive Committee, as well as representatives from Legal and Compliance. It reviews all aspects of the Compliance risk mitigation plan and acts as a point of escalation.
Our Team
Gunvor today has more than 20 staff members around the world that ensure the company is adhering to ever-evolving international regulatory frameworks. Gunvor has dedicated Director positions for:
- Anti-bribery and corruption (ABC) and anti-money laundering (AML)
- Trading Compliance
- Advisory Compliance
- Sanctions Compliance
Our compliance officers are located directly on trading floors next to trading personnel. They work in conjunction with Risk Officers providing oversight for every trading desk. Gunvor’s Compliance Directors further lead the company’s Compliance training program, which is mandatory for all relevant company staff worldwide. The Group Compliance Committee oversees the effectiveness of the program.
2
International Sanctions Experts
Zero
Agents used for business development
100%
Compliance staff participated in Human Rights Training Sessions
Validation
International compliance experts regularly assist with enhancing Gunvor’s global program. Recent areas of development include our focus on Human Rights training and policy implementation globally. To ensure consistent growth in line the latest regulatory and market developments, Gunvor’s Compliance Department also undergoes regular external audits, for benchmarking and assessment, that are conducted by Big Four firms.
