Since the business’ early beginnings in 2007, ATCS Consultancy Managing Director Mark Laurence Zammit has grown the remit of the company from an offering principally driven by translation and training services to also, today, providing business consultancy across a range of sectors, including iGaming, Fintech, legal and the pharmaceutical industry.

“Initially, our drive was to fill the void we saw in the translation market and offer quick as well as thorough services. Today, we collaborate with stakeholders across 150 countries, and we offer a maximum of a 24-hour turnaround translation time, depending on the size of the documents. But, particularly over the past few years, we’ve also been developing the business consultancy side of ATCS Consultancy, and that is mainly due to my background in financial services,” Mr Zammit explains.

Mr Zammit is “authorised by the MFSA to offer certain regulatory roles, such as in anti-money laundering, and what I am able to do – through directorships and consultancies – is offer general business consultancy, complaints and litigation, together with risk management and compliance support, AML, gap analysis, as well as assist companies in implementing new regulations,” Mr Zammit explains, adding that these services could be fulfilled under roles that include board directorship, investment committee member, and external consultancy.

The Managing Director started his career working with Bank of Valletta, before moving on to fulfil the position of Operations Manager and Risk Manager for businesses such as the trading platform, FXDD. Later, Mr Zammit also grew into the position of Chief Risk and Compliance Officer with RCI Insurance Ltd where he oversaw “seven regulatory roles which included compliance officer, risk manager, MLRO and data protection officer. I, then, took care of complaints and litigation, legal drafting of all contracts and internal control. I was also the complaints and litigation officer under the Office of the Financial Arbiter in Malta,” he explains.

Elaborating, Mr Zammit specifies that he has “worked in financial services for over 30 years; I am certified as a European risk manager, with expertise in banking and insurance. I have also worked with the Malta Financial Services Authority (MFSA), the Financial Intelligence Analysis Unit (FIAU) and the Central Bank of Malta to help create certain regulations here in Malta,” he explains.

His practical expertise has been augmented with an academic approach to risk and compliance: Mr Zammit holds a master’s degree in insurance and risk management from the University of Malta, where he is currently reading a doctorate in the subject. Moreover, he is working as a research assistant and teaching in governance and compliance management, advanced enterprise risk management and applied alternative risk transfer.

ATCS Consultancy’s capability to offer myriad solutions to business challenges marks it from its competitors, the Managing Director asserts, saying that ATCS is a cut above other players “because of my extensive experience in the financial services industry, the fact that I possess a solid network, and my established reputation with the regulators.” 

In addition, Mr Zammit’s expertise goes beyond banking and insurance. “I am also one of the few on the island who possesses substantial experience in cryptocurrencies,. I am not only an investor, but I sit on investment committees, where we work on DeFis (Decentralised Finances) and other cryptocurrencies. I have also assisted start-ups, in getting them functioning, and employing the right talent. You don’t have a lot of people doing that.”

The Managing Director also points to his work at the University of Malta which, he says, allows him to consolidate such advantages: “I work closely with the regulators on providing courses for CSPs, trustees and other regulated entities. We work with the Malta Gaming Authority (MGA), the Institute of Financial Services (IFS) and the Malta International Training Centre (MITC). We provide the knowledge towards bringing industry stakeholders in compliance,” he says.

Moreover, “because of my work with the University, I get first-hand information on what is being released by EIOPA (European Insurance and Occupational Pensions Authority), ESMA (European Securities and Markets Authority) and the European regulators. I research such regulation, so I am at the forefront of certain roles that, yes, change all the time. But I am able to understand and help companies mitigate the risks of such changes and to do a gap-analysis of such shifts,” he elaborates.

To this end, ATCS Consultancy can assist businesses who may not even be aware of their regulatory responsibilities and who may even work outside the financial services sector. “The biggest issue companies face is to be compliant with the regulators,” Mr Zammit says. It’s not only businesses operating in financial services that need to be cognisant of their commitments in this regard. For example, some CSPs don’t believe they need to monitor such regulation, but if their customer is in financial services, then they need to follow the rules that govern that sector.”

Furthermore, all businesses need to adhere to certain regulations, in particular to GDPR (General Data Protection Regulation) and DORA (Digital Operational Resilience Act). “Some companies don’t even know what these are. Therefore, at ATCS we aim to also bring to light the importance of certain widespread regulations to businesses who think they may not be required by law to follow them. Risk management is everywhere, and every company – even those which don’t operate in a regulated sector – need to ensure business continuity, to implement disaster recovery and to stress-test the environment they work within,” the Managing Director explains.

Mr Zammit also refers to “geopolitical risks” which will continue to impact industries across the board. “International events have a direct effect on companies, and this is on a daily basis. They leave a mark on the supply chain, the way we think, and the way the government makes decisions. Localised wars are having an effect on our ability to have sustainability in pricing, in the supply of fuel and energy, as well as in the importation of products and the food that we need. What we are seeing is the risk that our economy will eventually be hurt in Malta, and we need to think ahead to buffer any negative repercussions that may occur in the future,” he insists.

Nonetheless, ATCS Consultancy’s Managing Director, insists that there is “always opportunity” for businesses operating in Malta. He sees this in “the ability to diversity into new markets, and to create new strategic alliances”, concluding by encouraging investment in technology – while also “embracing AI” – as well as utilising local resources to foster new opportunities in international markets.