credit unions

We have been assisting credit unions with AML compliance since the inception of the AML regulations. We understand the focus on members, the cooperative approach to compliance, and the fact that those tasked with compliance often wear many hats. Because of that understanding, we developed an outsourced AML program specifically for credit unions, which is implemented at more than 10% of the credit unions in Canada. Credit unions can choose from a tailored compliance menu, based on their needs and internal resources, all the way from resolving alerts to performing virtually all the functions of a Chief Anti-Money Laundering Officer. We are also engaged by some credit unions to manage their higher risk client programs, such as those involving the scrutiny and monitoring of money services businesses, payment services providers, securities dealers, and cannabis related businesses (CRBs).

We also help support with discrete functions, like leading risk based approach refresh exercises, training, policy and procedure development, compliance effectiveness reviews, and FINTRAC exam representation. We're not only consultants, we're also proud credit union members who believe in the co-operative principles.

HELPFUL RESOURCE

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