• Setting the stage with an introduction to the regulatory framework:
  • Teasing out the federal and provincial jurisdictional divisions
  • Identifying the regulators and understanding their roles
  • Key influential industry associations and self-regulatory organizations
• Gaining familiarity with the key pieces of legislation and regulations:
  • Bank Act, Trust & Loan Companies Act, Insurance Act and regulations thereto
  • Proceeds of Crime Money Laundering and Terrorist Financing Act and regulations
  • Securities Act
  • Recent guidelines from OSFI, FINTRAC, OPC and FCAC
  • International legislative provisions
• Governance 101:
  • Reviewing the roles of the board, committees and management: Understanding their influence and involvement in operational decisions
  • Embedding risk management strategies into your governance framework
  • Overcoming benchmarking challenges unique to each of small, mid-sized and large organizations
• Highlighting the importance of AML provisions in every FI:
  • Understanding the essential purpose and principles of an AML compliance program
• Building a solid and individualized compliance program:
  • Understanding the essential purpose and principles of ensuring compliance
  • Overview of an effective compliance program
  • Developing a tailor-made compliance program appropriate to your organization
  • Identifying strategies to discharge audit/review obligations
  • Instituting proactive measures for comprehensive risk assessment and management to reduce exposure to criminal and civil liability, fines and administrative penalties
  • Guidelines to implement industry best practices

Guidebook to Developing and Implementing a Cost-Effective Legislative Compliance Management (LCM) Program

Workshop Leaders

Christopher Walker
Vice President and Chief Compliance Officer
MFC Global Investment Management (Canada) Manulife Financial

Demetra Valente
Vice President - Chief Compliance Officer, Corporate Secretary
Jameson Bank

Topics covered include:
Successful Strategies in Monitoring Compliance

• Establishing an individualized enterprise-wide LCM structure:
  • Implementing proper policies and procedures, and enforcing uniform compliance
  • Ensuring that supervisory groups and controls are independent and remain at arm's length from the activities to be monitored
• Best practices in creating and maintaining monitoring and reporting procedures:
• Constructing structures for a seamless flow of information to management in the course of day-to-day business practices
• What are the key differences in reporting to senior management, the board, and externally?
• Practical guidelines to effectively align your LCM system with your compliance model while staying true to your general business vision
• Proven strategies for cost-effective LCM programs: Where and when can you afford to be frugal?
• Aiming for improvement: Incorporating a solid metrics system for regular and targeted evaluation of LCM controls and methodologies to keep pace with regulatory challenges

Solutions to Manage Compliance Risks

• Building cross-jurisdictional internal audit and self-assessment tools
• Understanding the importance of developing micromanagement strategies for the critical areas of risk:
  • Operational
  • Compliance
  • Legal
  • Liquidity
  • Strategic
  • Reputational
  • Credit
  • Market
• Learning to grow talent: Proven practices for training staff to understand the importance of risks for non-compliance:
  • What are your options for training vehicles?
  • Assessing the effectiveness of home-grown compliance training programs
• What must be considered in handling escalating problems?
  • Prioritization of issues to facilitate direct and immediate attention to hot button issues
  • Best practices to diffuse problems at an early stage, and to minimize the negative impact of public scrutiny
  • Implementing training measures for your management team