Managing Financial Crime Risks in a Dynamic Financial System
Over the last decade Canadian Banks have spent millions
introducing new technology and strengthening compliance practices, yet obstacles remain. Criminals continue to find ways into the Canadian financial system. Estimates of so-called ‘snow washing’ suggest that $45billion to $113billion of dirty money is laundered in Canada each year.8 Recent FINTRA fines and undisclosed fines amongst tier one banks shows gaps in risk controls.
In this session we’ll discuss:
·      The role of the risk assessment and ideal framework when
risks are continually evolving.
·      Ongoing monitoring techniques – and how to augment humans
with technology
·      How to integrate the AML risk assessment to the wider
enterprise framework so management is not blind sided.
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52:50
Exploring the Field of Data Security with Seclore
Host Loren Schwartz speaks with Mark Sutera, VP of Enterprise Sales at Seclore about data protection. Listen as they explore the field of data security, trends in data threats, what firms can and should be doing about it and innovation in this space
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25:02
Preparing for New Climate Disclosure Guideline - B-15
In this podcast, host Matthew Ayearst speaks with Katerina Kindyni, Financial Services Sustainability Practice Lead, at EY Canada. Listen as they discuss their views on the impact of recent OSFI B-15 guideline and what financial institutions need to do to get ahead. - which includes EY's newly launched stress testing solution!
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25:32
AI-Curated Open-Source Data: A Game-Changer for Beneficial Ownership Compliance
In our latest episode of RegTech Roundup - Financial Crimes edition, we delve into the challenges surrounding the collection of beneficial ownership data through centrally administered registries. Joining our host, Charlene Sebastian, in the
discussion are Jennifer Arnold, Co-Founder & CEO of Minerva, and Matthew Van Buskirk, Co-Founder & CEO Regulatory, Hummingbird RegTech.
While centrally administered registries have the potential to enhance the overall data ecosystem, progress in this area has been slow. Data accuracy, currency, verifiability, privacy concerns, and the high cost of maintaining a central
registry have hampered implementation progress.
Financial institutions (FIs) are now questioning the value of these registries if they cannot reliably address their Know Your Customer (KYC), Customer Due Diligence (CDD), and risk assessment requirements. Consequently, FIs are realizing the
need to strengthen and streamline their beneficial ownership programs independently, without relying solely on registries as a solution.
 This discussion explores how FIs can harness AI-curated open-source data and workflow integrations to optimize their beneficial ownership data collection processes. By doing so, they can enhance compliance and generate additional revenue through improved data management and utilization. Please tune in to
discover strategies for navigating this evolving landscape effectively with insights from our expert panelists, Jennifer Arnold and Matthew Van Buskirk.
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27:14
AI for Good: Improving Trade Surveillance Outcomes - A Conversation with Martina Rejsjo, Head of Product Strategy at Eventus
Trade surveillance is a critical component of today's financial world, where regulations are ever-evolving. It's not just about keeping an eye on trades; it's about ensuring compliance, detecting anomalies, and mitigating risks effectively.
Our guest, Martina Rejsjo, Head of Product Strategy at Eventus, shares insights into the complex challenges faced in the world of trade surveillance. With the financial industry operating in multi-asset class environments, including equities, options, futures, FX, fixed income, and digital assets, the need for comprehensive solutions is paramount.
In a rapidly evolving financial landscape, staying ahead of regulatory changes and market dynamics is a formidable challenge. Join us in this podcast as we delve into the complexities of trade surveillance, the advancements in solutions and the transformative power of AI in improving outcomes for financial institutions worldwide.
Host: Charlene Sebastian, Vice President of the CRTA Board and
Vice President of Strategic Partnerships at Minerva
RegTech Round Up brings thought leaders and technology professionals within the Canadian RegTech community together to discuss current regulatory challenges and emerging technology trends and solutions.
South Africa