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.