Workshop A — How to Plan, Prepare & Manage for a FINTRAC Exam or Penalty: A Practical Guide to FINTRAC Examination Preparedness

Jun 14, 2022 9:00am – 12:30pm

Amber D. Scott
CEO & Founder
Outlier Compliance Group

Ivan Zasarsky
Financial Crime Practice Leader
PwC Canada

Workshop(s) are offered In-Person only

Beginning in April, FINTRAC will begin assessing Reporting Entities’ compliance programs to ensure that amended Regulations are reflected in their relevant documentation and that they are applied in practice.

In this Workshop, expert leaders will explore the main challenges in FINTRAC’s examination process in order to leave participants with an understanding of how to prepare for a successful regulatory examination and provide guidance on what the regulator is looking for during an assessment and how to defend your compliance activity.

  • Understanding FINTRAC’s examination process – what are the common pitfalls that lead to negative examination results?
  • Understanding how risk assessment methodologies are applied by FINTRAC
  • Assessing the impact of the latest AML regulations on your compliance program
  • Techniques for effective record-keeping and documentation
  • Best practices for aligning internal audit procedures with exams to ensure organizational consistency
  • How to prepare examination materials
  • Lessons from positive and negative exam results for implementing practical strategies for addressing FINTRAC examines and penalties
  • Best practices for drafting responses