Regulatory Compliance Consulting (“RCC”) Our team of seasoned Anti-money Laundering (“AML”) specialists can assist your business in tackling the complex regulatory environment by developing comprehensive and effective AML programs. We conduct compliance review engagements to assist in the identification, investigation and reporting of prescribed and suspicious transactions to ensure compliance with the Proceeds of Crime Money Laundering and Terrorist Financing Act and Regulations as well as the requirements of OSFI Guideline B8. Additionally we offer review and testing services, as well as investigative and ad-hoc services to enhance your current AML programs.
Our Regulatory Compliance consulting service offerings include the following: Anti-Money Laundering and Anti-Terrorism Financing (“AML/ATF”) regulatory compliance § Transactional look backs – a retroactive review and analysis of transactions within a period of time with a view of identifying, analyzing, investigating and potentially reporting unusual or suspicious transactions that should have been identified and reported but were overlooked § Development of AML internal polices, procedures and controls – We can assist in drafting and developing the AML policies and procedures as well as any other standards or guides including risk mitigation control procedures that show the company’s commitment to preventing and detecting money laundering § Self assessment and Independent procedures testing to ensure effectiveness of control § Assessment of inherent risks – we conduct risk assessments of entire organization to determine where the money laundering and terrorist financing risks are the greatest. Proportionate risk mitigation procedures will then be designed based on the level of assessed risk § Training - Review, development and assessment of current training programme for the entire organization from the board of directors to senior management to the functions best suited in the identification of unusual activity § Customer Due Diligence - Assess the adequacy and effectiveness of Know Your Customer (KYC)/Customer Due Diligence (CDD) procedures and policies, including documentation § Terrorist Financing - Assess the adequacy of the Financial Institutions (“FI”) process in meeting their reporting obligations under the United Nations Suppression of Terrorism Regulations (the “Regulations”)
Virtual Chief Anti-Money Laundering Officer (“CAMLO) The Proceeds of Crime Money Laundering and Terrorist Financing Act and Regulation require every reporting entity to appoint a compliance officer who will be responsible for the implementation of your compliance regime. The Chief Anti-Money Laundering Officer (CAMLO) has been charged with this responsibility. The Virtual CAMLO does the same job as any other CAMLO with one difference—he / she may or may not be on site on a full-time basis. Our Virtual CAMLO service assists the Company in providing oversight of the AML/ATF control activity within the organization. Our services include but are not limited to: § Keeping the AML/ATF program current relative to the Company’s identified inherent risks § Developing and implementing an assessment of inherent ML and TF risks § Developing and implementing a self assessment of controls § Developing and maintaining a written ongoing training programs Reporting to Senior Management and the Board pertinent information about AML/ATF program adequacy and issues ^Back To Top |
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