What is this on my bilge pump float switch bracket?

The bracket is aluminum. It sits in a small pocket that is usually dry, only gets rain water when it rains hard. The white stuff is soft, like vaseline. The pocket it sits in is fiberglass. There are no wires in this pocket other than the wires to the float switch. No gunk on the switch or the wires, just the aluminum bracket.

The bracket is aluminum. It sits in a small pocket that is usually dry, only gets rain water when it rains hard. The white stuff is soft, like vaseline. The pocket it sits in is fiberglass. There are no wires in this pocket other than the wires to the float switch. No gunk on the switch or the wires, just the aluminum bracket.