banks and insurance companies

Beyond legacy guidance on AML, such as OSFI's Guideline B-8 (Deterring & Detecting Money Laundering and Terrorist Financing) and its Designated Persons Listings and Sanctions law instructions, AML at federally regulated financial institutions (FRFIs) is complicated by intense OSFI expectations for Corporate Governance, enterprise risk management, regulatory compliance management ("RCM" or E13), model risk management and oversight (E23 and E25), backround checks for Senior Management and Directors (E17), and outsourcing (B10).

We are most often called into FRFIs to conduct evaluations of their program and operations against AML compliance, against legislation and other regulatory expectations. Those evaluations are structured as self-assessments, internal audit support, compliance effectiveness reviews, or special reviews for the Board of Directors. We are also regularly called upon to provide specialized training, and conduct enhanced due diligence for higher risk clients.

Mark Ambrose - Principal, Anti-Financial Crime and Regulatory Compliance
mark@theamlshop.ca
LinkedIn

Having held Chief Anti-Money Laundering Officer (CAMLO) and Chief Compliance Officer (CCO) roles both in Canada and internationally, Mark’s significant enterprise experience helps Canadian financial institutions (including credit unions), securities businesses, and mortgage lending businesses comprehensively and holistically manage regulatory compliance risk. Read more.

Michael Ecclestone - Governance, Risk and Compliance Leader
michael@theamlshop.ca
LinkedIn

Michael is Governance, Risk and Compliance Leader at The AML Shop, with over 20 years of experience in financial sector risk, regulatory compliance and legislation as an advisor, an executive, a regulator and a practicing lawyer. Throughout his career he has specialized in resolving complex regulatory issues, leveraging his uniquely broad and deep knowledge of financial services law and regulatory frameworks around the world. Read More