OVERVIEW In July, 2015, the federal Department of Finance, consistent with international standards outlined by the FATF, issued its report on the Assessment of Inherent Risks of Money Laundering and Terrorist Financing in Canada. The report goal is to better identify, assess and understand inherent money laundering and terrorist financing risks in Canada on an ongoing basis. Concurrently, the European Union’s Fourth Directive on ML and TF was published in June, 2015 and due to the recent terrorist attacks in Europe, the date for member states to enshrine the directive in national law has been moved up to December, 2016 from June, 2017. In this session, we will review the important points in both these documents and if we have time, also speak to the highlights Canada’s Bill C-51, which was passed by the former parliament, with implementation waiting upon additional regulations and guidance from FINTRAC expected soon.
THE PRESENTER Mark McManus is the Chief Solutions Officer of GHLC Inc., a Toronto-based global business advisory firm. Mark has a passion and proven track-record for solving the complex challenges organizations face. His expertise in the regulatory compliance space includes training employees in combating financial crime and in sustaining sound business-practices. He has experience in successfully leading high performance teams, in implementing workplace change, and in coaching leaders.
As the Head of Global Compliance Training & Awareness at RBC (Royal Bank of Canada), he developed and managed the implementation of an enterprise-wide strategy for streamlining and expanding the formal compliance training program to reflect changing regulatory requirements, while minimizing time spent away from client-facing activities. As a member of the Executive Management Team and Head of the Inquiries & Contact Centre for the Ontario Securities Commission, Mark developed a systems-based process for the regulatory review of complaints and tips. This new approach was rooted in a closer working relationship with the Enforcement and Executive Branches, and improved the due diligence, integrity and response time of the review process. Mark also introduced the concept of “service excellence in a regulatory environment,” which was later formally enshrined throughout the Commission. He co-developed investor education and employee communication programs, as well as led the Commission’s inaugural Management Development program.
Mark is a Certified Fraud Examiner, a Certified Anti-Money Laundering Specialist, and a Certified Training & Development Professional. He earned an Honours Bachelor of Commerce degree from Queen’s University at Kingston and a Master of Education degree, specializing in Workplace Learning & Change, from the Ontario Institute for Studies in Education (OISE) at the University of Toronto. Mark also holds a Certificate in Financial Management and a Diploma in Law & Security Administration from Algonquin College in Ottawa, and he is a Fellow of the Institute of Canadian Bankers.