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As I am so accustomed to interviewing entrepreneurs, I was interested in the path of a Human Resources professional for such an international corporation with over 500 employees. So, I'm happy to present an interview with Katia Solano the Director of Human Resources for Mossack Fonseca & Co (MF).
Established in 1977, Mossack Fonseca is a leading global company which provides comprehensive legal, trust and accounting services.
Katia's been at the company for more than 20 years. She's moved through many different positions, learning different skills along the way, from reception to filing and then as the personal assistant to one of the founders of the company.
"I worked with the founder when MF was a pretty small company; we were around 30 employees at that time. Later, I worked on accounts receivables and payables, and then I came to the human resources department."
Give me an overview of the work that is done in the human resources department.
"Human Resources is a company-wide department, so it has to do with the human resources policies for the entire MF group―the hiring process, candidate selection, training and development, performance evaluation, benefits and salaries, internal communications, leadership development, deployment, cascading goals, the company culture, and induction, amongst others. I work closely with the CEO and the management team. I deal with all the managers of the different offices around the world. I have a team of six employees."
To what degree do you keep your finger on the pulse of hiring?
"I meet at least once a week with the Recruitment and Selection Specialist―she reports directly to the Human Resources Coordinator―but I meet with her once a week because the recruitment process is a key process in any organization. However, I don't interview candidates unless we are going to hire someone for a key position, like for example a lawyer or a management team member―somebody of a high level―whether here in Panama or in any of the offices abroad. In Panama it is very difficult to hire good people because the labor market is so tight."
Katia, what do you do to recruit qualified employees, whether in Panama or abroad, when faced with a shortage of available talent?
"Well it is very helpful that we have a well-known, highly respected name here―so lawyers, in particular, want to work at MF; I'm always receiving resumes in my inbox or through LinkedIn. We usually advertise our positions online. Plus, we are involved with universities―we maintain close contact with them and they always refer people to us for internships. We do the same thing with high schools―we usually have maybe 15 interns that are about to graduate from high school, so they do their internships here―many times when they finish their degree programs they apply to work here. In addition, we try to be involved in all the job fairs."
Your internship program with students from high schools and universities sounds like a great way to evaluate talent.
"Definitely, because when they come to intern with us we really do make an effort to teach them as much as possible. I insist that all our managers make sure to give them as much training and experience as they can handle. There are many companies that simply have their interns do menial tasks; however, I insist that we don't do that with ours. At MF, the interns learn about the company, its mission, culture, and values, and usually they like it and they go back to school or university with a good impression. They share that information with their friends and we usually receive some resumes from other students of the same schools that want to do internships with us. Also, there are many professors who know that we really train their students and they refer candidates to us."
How important is it keep personally connected to the process of adding new personnel to the MF team?
"It is very important because our recruitment process is integral to the future of the company―so to me recruiting talented people is directly related to the strategy of the company because we offer our clients specialized services so we really need to have talented people to be able to provide our clients with excellent service. "
Do you have any hard-fast rules that are followed in your own selection of team members or those who will be working close to you?
"Selecting a new employee is kind of tricky because it is not only that you want to have the person with the perfect profile, but you need a combination of skills and attributes―you need somebody who has the capacity and desire to do the job they have applied for―somebody who has a clear vision of what they want in the short and long term―and they have to be a good fit with our company."
Do you have an anecdote or philosophy to share that comes to mind that would sum up your thoughts about hiring?
"To me, attitude is everything. You may have a good candidate with the perfect academic background and experience, but if the person does not really want to do the job they are applying for, then we are wasting our time. Usually I hire people with little to no experience and then we train them; they appreciate that and they tend to stay for a long time."
Katia's priorities and methodical approach align with Hiring Truth 1: Be diligent, not desperate from my book The Naked Interview: Hiring without Regret. She is ensuring the candidates are carefully selected and that they are cared for with training to help them stick.
"Now, I know that millennial are different. I have millennial on my team and you have to know how to manage them to keep them interested and motivated. One way I do that is by assigning them various projects―you needs to work differently with them."
"We keep them interested and motivated by offering them attractive benefits, continuous training and education―and the opportunity to move laterally (to work in a different department) and up―depending on the individual's skill set and our company needs. Another advantage of MF is our multicultural and international environment where they can work and interact with our colleagues and clients all over the world."
"Everything is different now. I mean the usual human resources process is different now because you cannot plan their careers anymore; they have their career already planned and they evaluate the company to see if the company meets or exceeds their expectations and in particular, what the company is going to give them, so everything has changed."
What is the best interview question you have ever used?
"I use a combination of questions. When you are going to interview a candidate, you have to be clear about what you or the manager needs, and of course, what the company needs. Sometimes you need to help the managers to identify what they need. When I am doing an interview I pay attention to everything and usually I write down everything they say, so I will ask questions like: How do you see yourself (as a professional) in two years? ― What do you want to do? ― Why? ― What kind of company are you looking for? ―What would be your ideal job? I ask about previous bosses and companies to get an idea of what type of boss and company culture they like―or dislike."
What has driven your personal success at Mossack Fonseca Group?
"I like to serve people. I am proud of being a member of MF and also of the human resources department. I feel that we support MF―its management and reputation. I tell my people every day that we are service providers. To me, it is critical to be willing to serve our internal and external customers, and to maintain the highest professional standards."
Interview by David Lee Jensen
Monday, November 9th, 2015
With the authorization of the People's Bank of China, the China Foreign Exchange Trade System (CFETS) announced that beginning November 10, 2015 they will launch direct trading between the yuan, also known as the renminbi (RMB), and the Swiss Franc (CHF) on the inter-bank foreign exchange market.
China is seeking to promote its yuan as a global reserve currency alongside the dollar, an ambition that depends on its willingness and ability to loosen tight restrictions on the currency's trade.
One major step towards achieving Beijing's goal is convincing the International Monetary Fund (IMF) to include the yuan in its internal "special drawing rights" reserve currency basket. The IMF is expected to make its decision regarding the yuan in the near future.
“This is an important step in strengthening bilateral economic and trade connections between China and Switzerland,” the People’s Bank of China said in a statement on its website. The link will help lower conversion costs and facilitate the use of both currencies in bilateral trade, it added.
The yuan can only move up or down two percent against the US dollar from a mid-rate set daily by the central bank. The Swiss franc will be allowed to fluctuate five percent on either side of a central rate, the CEFTS’s statement said.
Article from Mossack Fonseca
The Mossack Fonseca Group recently planted over 1,000 seedlings in Camino de Cruces National Park as a part of National Reforestation Day and the “Alliance for a Million.”
Panama City, Panama – November 25, 2015 /PressCable/ —
Taking a more proactive approach to the issues associated with global climate change, the Mossack Fonseca Group offered its support for the reforestation efforts adopted by Panama and much of the rest of Central America through its participation in National Reforestation Day. Recognizing the importance of the role trees play in the recovery of degraded soils, the protection of the water supply, the absorption of carbon and the emission of oxygen, the planting of a wide variety of tree species on such a grand scale is a highly beneficial measure for further protecting the environment from the potentially devastating effects of unchecked climate change.
The firm has a long history of environmental consciousness and has frequently participated in projects similar to the reforestation efforts taking place in Panama. In this particular instance, a large contingent represented the Mossfon Family at Camino de Cruces National Park to take part in the “Alliance for a Million” project undertaken by ANCON. In planting over 1,000 young seedlings throughout the park, members of the firm were able to assist ANCON as it seeks to achieve its lofty goal of stimulating the growth of forest and fruit species across 1 million hectares. With a focus on targeting the areas with the most pressing need for regrowth, members of the firm helped to ensure that forest management areas, river banks, natural forest areas and groundwater recharge zones benefited from the immediate attention.
Those participating in National Reforestation Day surely understand the impact that deforestation has had on the world at large, but Central Americans in particular are acutely aware of the consequences that have been wrought throughout the region. Over the last 40 years alone, 40 percent of the rain forests have been cleared or burned, affecting the region’s ecological balance to a significant degree. Deforestation has affected air quality, caused soil instability and endangered the 80 percent of terrestrial life that calls the forest home. Given the pervasive and accelerated nature of climate change, efforts such as the one undertaken by ANCON and the firm are necessary for ensuring future environmental stability.
About the Firm The Mossack Fonseca Group is a firm that provides exceptional legal, trust and investment consultancy to clients across the globe. Founded in 1977, the firm offers comprehensive services across every continent, specializing in international business structures, commercial law, wealth management and trust services.
For more information about us, please visit http://www.mossfon.com
Contact Info:
Name: Mossack Fonseca
Organization: Mossack Fonseca
Address: 54th Street, Marbella, Panama
Phone: 507-205-5888
Del 17 al 20 de noviembre se realizará la Conferencia Anual de Liderazgo para Latinoamérica.
Del 17 al 20 de noviembre, próximos, la Asociación Internacional de Marcas (INTA, por sus siglas en inglés) realizará la Conferencia Anual de Liderazgo para Latinoamérica.
De acuerdo con los organizadores, el evento será el mayor organizado por INTA en Latinoamérica hasta el momento y uno de los más importantes debido a que se han convocado las marcas más relevantes a nivel nacional e internacional.
‘Para realizar este evento se ha escogido a Panamá debido a que es uno de los países con más alto crecimiento empresarial y económico en Latinoamérica', señaló Sanz de Acedo, uno de los miembros principales de INTA.
De acuerdo con la fuente, dentro del encuentro se conformarán diversos comités de trabajo, dentro de los cuales Mossack Fonseca, reconocida por su vanguardia y calidad profesional, ha sido aceptada para colaborar participando en dos mesas de trabajo, lo cual ratifica el profesionalismo y compromiso que caracteriza al equipo legal y administrativo de la empresa.
INTA es una organización que busca defender las marcas comerciales y la propiedad intelectual teniendo en cuenta siempre la seguridad y tranquilidad del propietario de las marcas, para de esa manera lograr un comercio justo.
La reunión de liderazgo liderado por la Asociación Internacional de Marcas se llevará a cabo en el Hotel Hard Rock Panama.
The Banker magazine’s recent survey has confirmed the Cayman Islands position as the world’s number 1 specialised financial centre. The jurisdiction’s dominance as a leading banking centre remains firm as this is the seventh consecutive year that the Cayman Islands has maintained the top spot in this highly-regarded, global survey, reports Cayman Finance.
“This unprecedented dominance in banking confirms our role as a global facilitator of the allocation of Investment capital and financing around the world through excellence, innovation and balance in global financial market products and services,” said Mr. Jude Scott, CEO of Cayman Finance.
Mr. Scott said that the leadership of the Cayman Islands as an international banking centre can be attributed to a combination of the world’s top professionals and the jurisdiction’s strong legislative and balanced regulatory framework.
“The Banker Survey is a prestigious global survey and it is indeed encouraging to see that our efforts together as a jurisdiction are achieving consistently high results in terms of global recognition. With over 12 points between us and the next ranked jurisdiction it is clear that we continue to demonstrate the excellence in client service that maintains our position as the leading specialized financial centre”, Scott added.
Hailing strong working relationship between the Cayman Islands Government, the Cayman Islands Monetary Authority, the judiciary and the financial services industry as a key factor in Cayman’s success, Mr. Scott said that these organisations recognize the jurisdiction’s important role in the global financial market and have continually demonstrated a commitment to ensuring the strength of the banking sector.
Cayman’s modern and robust infrastructure, tax neutrality with a key focus on tax transparency, geographical location, best in class banking professionals, English speaking population and business friendly environment facilitate the accessibility of banking services to an international clientele, he added.
The Banker magazine is part of the globally recognised and respected Financial Times Group. The IFC rankings are based on data ranging from financial market indicators, economic potential, and business environment factors. The rankings focus on the level of international business and the value for institutions seeking to expand their international operations.
Of the specialised financial centres, Cayman is followed by Jersey, Guernsey, and the Bahamas, in second, third, and fourth place, respectively.
Source: http://www.mossfon.com
The largest merchant marine fleet in the world (by dimensions and tonnage) flies the Panamanian flag. Huge shipping companies, as well as yacht and pleasure ship owners, choose Panama for registration due to the multiple ship registry advantages it offers. Through Mossack Fonseca, you can access ship registration and other legal services related to Panama’s maritime industry.
Find out below why Panama should be your first choice for ship registration and other maritime industry services.
Panama and its Maritime Tradition
The Republic of Panama has a great maritime tradition. Aside from the Panama Canal, which celebrated 100 years of operation in August 2014, an open registry system was adopted in early 1917. This transformed Panama into the state with the largest merchant marine fleet worldwide, both for dimensions and tonnage. Moreover, Panama has a modern maritime port cargo network, mainly at the extremities of the interoceanic waterways, providing important cargo transshipment services to and from South America and the east coast of the United States of America.
Ship Registry in Panama
Panama’s Ship Registry is one of the oldest open registry systems in the world. It was established in 1917, only three years after the inauguration of the Panama Canal. This structure permits the registration of any merchant, fishing or pleasure vessel under the Panamanian flag, without having to pay any minimum fee for Panamanian ship ownership, or fulfill any national operating requirements, other than those which must be met for ship registry, that is: guarantee compliance with appropriate seaworthiness standards, legal security relating to the ship’s title of ownership, facility to transfer ownership, and guarantee ship credits.
The Panama Ship Registry is a worldwide leader that satisfies the requirements listed above and more. A Panama ship ownership title grants full legal security and its ship mortgage offers exceptional stability for a creditor’s guarantee as regards the ship’s credits. The solidity of the title and speediness with which the creditor can process its credit and ship mortgage are crucial factors that have led the most prestigious banks and insurance companies in the world to have maximum trust in the Panamanian ship registration system.
Another advantage of the Panamanian registry system is the large network of consular offices maintained by the Republic of Panama around the world. Panama has over 120 consulates, including 70 devoted exclusively to the merchant marine, in cities and maritime centers of great importance worldwide. Panama’s consulates, particularly those located in cities engaged in the maritime and port industry, are well prepared to handle provisional ship registration requests in an effective and speedy manner.
In addition, the Panama Maritime Authority offers incentives both to ships that are already registered and to new registrations. Discounts are offered for customer loyalty, good practices, new registrations, fleets, and new construction, among others.
The Panamanian registration system is fast and easy. Provisional registration can be done with copies of documents and it takes only one business day. This provisional registration is valid for six months. During this period, a permanent ship registration must be made. This speedy provisional registration permits the shipping company to register and operate ships immediately, while permanent registration formalities are processed.
Maritime Services Offered by Mossack Fonseca
To meet your maritime legal service’s needs, our firm has an experienced team of lawyers specialized in the requirements, challenges, and procedures of the maritime industry.
Our main services in this sector include:
If you have any questions or need further information, please do not hesitate to contact your local Mossack Fonseca Office, or email us at IWillson@mossfon.com or Akourany@mossfon.com
The Republic of Panama is not included on the District of Columbia’s (DC) list of tax havens for fiscal year 2016. The DC Fiscal Year 2016 Budget Support Act of 2015 defines “tax haven” as a jurisdiction that:
The government of Panama has recently enacted laws that include stringent controls, supervision, and regulation of its banking, financial, and non-financial sectors.
