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MCG Consulting – Connecting businesses to the next generation of compliance

MCG Consulting – Connecting businesses to the next generation of compliance

Safeguarding a company with the latest laws, regulatory compliances, financial risks, etc., has become almost as compulsory as protecting a computer with antivirus. Safeguarding a business is as crucial as developing or expanding it. There are many consulting firms that take care of legal, financial, and other corporate issues.

MCG Consulting is a company that believes all securities markets are holistically connected in today's world. Any business demands authoritative sources to assemble regulatory data requirements most efficiently and productively. The company has deep expertise and extensive global experience. Their industry knowledge spans regulatory reporting, regulatory data management and distribution, transaction monitoring and analytics, compliance management, and identity control.

MCG helps you navigate the complexities of the evolving financial landscape by delivering innovative, seamless solutions that increase your organizational efficiencies, achieving exemplary results. We had a short interview with Paul A. Murdock, the Founder & Managing Director of MCG consulting. Here are a few excerpts where he discusses more about MCG Consulting.

How do you help in elevating business efficiency?

MCG is one of the few companies that provide both regulatory compliance services and assistance in software development. We identify and mitigate compliance, regulatory, and financial risks on the compliance side and

help clients devise personalized and forward-thinking compliance plans to deliver long-term value. While on the technology side, MCG Consulting's technology experts help clients upgrade to next-generation software systems cost-effectively and stay updated with the latest innovations.

What values does your company inculcate?

At MCG, we act with intention and cultivate an environment of progressiveness. Our values are:

  • Integrity: Foster trust, communicate transparently, and treat our people and clients honestly and fairly.
  • Empowerment: Encourage our people and clients to achieve the best with a winning attitude.
  • Diversity & Inclusion: Value differences, attract and retain diverse people of character who commit to high standards.
  • Social Responsibility: Prioritize the greater good and build local communities around us.

MCG strongly advocates giving back through charitable works. We sponsor educational and scholarship opportunities for African American, and Latino males within the Metro NY area.

In detail, explain MCG solutions.

MCG Solutions™ are globally-localized, data-driven intelligent solutions to help companies navigate the complexities of the FinReg Industry. We have partnerships with various vendors to offer our clients cost-effective technology solutions while at the same time focusing on the business use cases of those solutions. Our collaborative team of Project Managers, Business Analysts, Compliance Analysts, and Technical Analysts deliver smarter decision-making and increased productivity to power your business for future success.

How happy are your customers with your services? Please share with us some of your success stories.

A major challenge for some of our clients is determining the effectiveness of legacy systems. Given their budget constraints, the cost-effectiveness of upgrading to the next-generation software solutions remains a major concern. At MCG, we have years of technology-related engagements in our portfolio and feel confident in our ability to provide "Best Practice" insights and recommends "Best in Class" solutions to help them mitigate the financial risks associated with implementing new software. Our client, a Chief Compliance Officer at Refinitiv, said, "From the first interaction, it was obvious that MCG was the firm that could deliver. The detailed ancillary discussion reaffirmed  that this team is technically heads and shoulders above the competition."

What are your capabilities? Please explain to us in brief.

MCG offers best-in-class customized consultancy services for financial institutions in leveraging best-of-breed RegTech solutions.

Regulatory Reporting: Enable automated data distribution and regulatory reporting through big data analytics, real-time reporting, and cloud.

Risk Management: Detect compliance and regulatory risks, assess risk exposure, and anticipate future threats.

Identity Management & Control: Facilitate counter-party due diligence and Know Your Customer (KYC) procedures.
Anti-Money Laundering (AML) and anti-fraud screening and detection.

Compliance: Real-time monitoring and tracking of the current state of compliance and upcoming regulations.

Transaction Monitoring: Solutions for real-time transaction monitoring and review. Leverage distributed ledger through Blockchain technology.

Project Management: Align business organization processes to improve operations and increase efficiencies.

Kindly explicate about your industry solutions.

MCG Consulting offers traditional consulting services, including forensic testing, fraud analysis, to clients in the Financial

Services industry. We perform an annual anti-money laundering review for our banking and brokerage clients. We also conduct forensic testing, "look back," and file scrubs to ensure that no fraudulent activities go undetected. Within the brokerage industry, we perform independent reviews of our clients' systems to detect fraud. This is to help our clients ensure compliance by testing their respective systems as per the Banking Secrecy Act (BSA) and "Know Your Customer" Rules.

About the Founder and Managing Director

Paul A. Murdock is the Founder and Managing Director of MCG Consulting. He boasts a career that expands over 30 years in the financial services industry. After getting his start as a securities regulator with FINRA, he moved on to hold chief compliance officer roles at both Prudential Financial and BlackRock. He then led consulting practices at Ernst & Young and at Wolters Kluwer. Today, Paul provides strategic direction to MCG Consulting, LLC in New York, as the managing director and president. In 2020, he was named one of the top 100 people in Finance by the Top 100 Magazine. Paul holds degrees from Syracuse University and The New School.

"MCG has out-of-the-box thinking, extensive industry knowledge, and employs a high level of professionalism," Managing Partner, Interactive Learning Group.

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