Networking Breakfast and Registration

Opening Remarks from the Co-Chairs

Safiya Adenekan
Chief Compliance Officer - Canada
Cash App

Kuno Tucker
Chief Compliance Officer
Manulife Securities

OSFI Keynote

Theresa M. Hinz, Executive Director and Acting Assistant Superintendent, Regulatory Response, OSFI

Theresa M. Hinz
Executive Director and Acting Assistant Superintendent, Regulatory Response
Office of the Superintendent of Financial in Canada (OSFI)

Payments Modernization in Canada

Important Trends, Initiatives, and Regulations Moving into 2024

Peter Aziz
Senior Counsel
Torys LLP

Vladimir Shatiryan
Partner
Blake, Cassels & Graydon LLP
Former Senior, Legislation and Approvals Division
Office of the Superintendent of Financial Institutions Canada (OSFI)

Canada’s Payments Modernization initiative has been a multi-year, industry-wide program that includes the introduction of a new real-time payments rail (RTR), the first real-time payment system that supports instant, data-rich payments. Fundamental to the systems are modern rules and standards, including the introduction of the ISO 20022 global payment messaging standard, which supports payment data traveling with payments. During this panel, we will explore payments modernization in Canada, including:

• Understanding the role that ISO 20022 plays in Canada’s modernization efforts and the impact that ISO-enabled payments will have on Canada’s financial institutions (FIs)
• How FIs can leverage Real Time Rail (RTR) features
• The impact of alternative payment methods and how they are reshaping global payments and impacting FIs
• Advancing financial transparency, inclusion, and the development of the future of payment systems

Networking Break

Unlocking AI in Compliance Investigations

Considerations and Opportunities for Compliance Professionals to Ensure Responsible and Effective AI Use

Kuno Tucker
Chief Compliance Officer
Manulife Securities

Compliance professionals can leverage AI in compliance investigations to enhance efficiency, effectiveness, and accuracy. During this panel, we will explore both considerations and opportunities that compliance leaders should keep in mind in order to ensure responsible and effective use of AI and other technologies in compliance and compliance investigations. Discussion points during this panel will include:

• Consumer protection legislation as AI regulation
• Identifying specific areas of compliance where AI can add value while detecting and preventing fraud, identifying patterns of non-compliance, automating risk assessments, and streamlining regulatory reporting requirements
• Using AI to ensure that relevant data is collected and integrated from various sources, such as internal systems, external databases, and regulatory filings, and then structured and organized to enable effective analysis
• Benefits to consumers and financial institutions
• The path forward for AI in the financial sector

Networking Luncheon

Partnering with Business Units to Strengthen Compliance Across Your Organization

Wayne Bolton
Principal, Compliance Canada
Edward Jones

Denise Carson
Chief Compliance Officer, BMO Asset Management Inc & BMO Investments Inc.
BMO Financial Group

Fara Sim-Francois
Chief Compliance Officer and Chief AML Officer
CITCO Bank Canada

Stephanie Mould
Head, Compliance and Privacy
Payments Canada

Kiran Thakkar
AVP - Individual Customer Compliance
Canada Life

Strengthening compliance across an organization requires a collaborative effort involving various stakeholders, especially business units that are directly involved in day-to-day operations. During this panel discussion, we will explore steps to effectively partner with business units to strengthen compliance. Discussion points for this panel will include:

• Ensuring that all employees within the business units understand the importance of compliance and the potential consequences of non-compliance through training sessions, workshops, and materials that explain relevant laws, regulations, and company policies
• Working closely with each business unit to identify specific compliance risks that are relevant to their operations
• Encouraging a culture of compliance within each business unit
• Working with business units to create streamlined processes that incorporate compliance requirements into their daily operations
• Guidance on how to adapt to changes in relevant laws and regulations

Evolving Typologies in AML and the Financial Sector

Garry Clement
Chief Anti-Money Laundering Officer
Versabank

Dwayne King
Senior Manager - Risk, Forensics and AML Advisory
Grant Thornton LLP (Canada)
Former Lead Investigator,
Asset Forfeiture Unit,
Toronto Police Service

Frank Mauti
Investigator, Financial Crimes - Ret.
Toronto Police Service, RCMP, and Ontario Provincial Police

Gary Valiquette
Assistant Crown Attorney, Guns and Gangs Task Force
Ontario Ministry of the Attorney General

Anti-Money Laundering (AML) and the financial sector’s evolving typologies are continuously adapting to address new challenges posed by money laundering and terrorist financing. During this panel, we will discuss key aspects to AML and evolving typologies in the financial sector, including:

• Regulatory updates on Know Your Customer (KYC) requirements, Customer Due Diligence (CDD) procedures, and enhanced transaction monitoring
• Best practices for a risk-based approach to AML compliance
• Leveraging technological advancements to enhance AML efforts
• The rise and impacts of new payment methods

Networking Break

FCPF Considerations – Part 1

Strengthening Your Whistleblowing Program

David Merriby
VP - Chief Compliance Officer at Amex Bank of Canada
American Express

Andrew Oakden
Chief Compliance Officer
HomeEquity Bank

Taha Patoli
Deputy Chief Compliance Officer
Coast Capital Savings

Strengthening your whistleblowing program is crucial for organizations to promote transparency, accountability, and ethical behavior. A robust whistleblowing program encourages employees to report wrongdoing, potential risks, and violations of company policies without fear of retaliation. During this panel, we will explore steps to enhance and strengthen your whistleblowing program, including:

• Developing comprehensive and easily understandable policies and procedures for reporting concerns
• Providing anonymous reporting to protect employees from retaliation
• Offering various ways for employees to report concerns, such as a dedicated hotline, email, online portal, or in-person reporting
• Conducting regular training sessions to educate employees about the importance of reporting misconduct and ensuring all employees know how the whistleblowing program operates
• Obtaining visible support from senior management and leadership

Clarity on Crypto in Canada

Forecasting the Cryptocurrency Outlook in Canada and Ways that Banks and Insurance Companies Can Navigate Crypto Assets

Adam Garetson
Partner, Blockchain and FinTech
Gowling WLG

Joseph Iuso
Chief Compliance Officer
Payment Source
Chief Anti-Money Laundering Officer
BitBuy

During this panel, we will explore the expansion of existing requirements for crypto platforms operating in Canada, and the path to clarity for crypto and digital assets in Canada through the lens of a financial institution, including:

• Understanding the cryptocurrency landscape across major economies
• The role of regulations in the transition to a crypto world
• An update to crypto trading platforms operating in Canada
• The role of the Ontario Securities Commission (OSC) in creating the first global crypto platform, Crypto.com
• Understanding the latest, most-sophisticated techniques being used by crypto launderers

Day 1 Adjourns to Sponsored Networking Cocktail Reception

Networking Breakfast and Registration

Opening Remarks from the Co-Chairs

Safiya Adenekan
Chief Compliance Officer - Canada
Cash App

Kuno Tucker
Chief Compliance Officer
Manulife Securities

OPC Keynote

Philippe Dufresne, The Privacy Commissioner of Canada

Philippe Dufresne
The Privacy Commissioner of Canada
Office of The Privacy Commissioner of Canada

Incoming Regulatory & Policy Changes

A Review of New and Pending Revisions to Canada’s AML System

Jeff Simser
Legal Director
Ontario Ministry of the Attorney General

Sandy Stephens
Vice President and Chief Compliance Officer
Alterna Savings Alterna Bank

The money laundering and terrorist financing (ML/TF) risk environments are continuously evolving at both the domestic and international levels, with criminals devising new methods to evade detection and take advantage of emerging vulnerabilities. As a result, Canada’s AML Regime must continuously monitor and adapt to new risks and threats, which, if left unchecked, can undermine the integrity of the financial system and national security. During this panel, we will explore the latest information on regulatory and policy changes in Canada’s AML system, including discussion on:

• Canada’s AML and ATF Regime Strategy for 2023-2026
• Proposed amendments to the PCMLTFA
• Improving the way compliance information is shared between FINTRAC, OSFI, and the minister of finance
• How federal, provincial, and territorial governments are working on transparency and updates to key milestones of the collaboration
• Balancing the safeguarding of the integrity of Canada’s financial system while ensuring the safety and security of Canadians, and respecting Canadian individual rights and freedoms, including privacy rights

Networking Break

ESG Best Practices for Financial Institutions

ESG (Environmental, Social, and Governance) best practices are crucial for financial institutions to promote sustainable and responsible operations while managing risks and fostering long-term value creation. During this panel, we will explore best practices for aligning financial performance with positive societal and environmental impacts, including:

• Incorporating ESG considerations into investment decisions and risk assessments to identify potential risks and opportunities associated with environmental trends
• Maintaining clear and comprehensive ESG disclosure practices, providing stakeholders with relevant information regarding sustainability initiatives and performance metrics
• Actively engaging with stakeholders, including clients, investors, employees, and communities, to understand their ESG concerns and expectations
• Fostering a corporate culture that emphasizes ethical behavior, diversity, and accountability at all levels of the organization
• Fostering innovation in financial products and services that promote ESG objectives, encouraging investments in areas such as renewable energy, social impact projects, and sustainable technologies

Networking Luncheon

Navigating Third-Party Risk

Identifying and Reducing Third-Party Risk While Meeting Business Needs and Complying with Changing Regulations

Claudia Fuchs
Chief Privacy Officer
CWB Financial Group

Melanie Hoad
VP, Head of Legal, Risk and Compliance, Canada
CNA Canada

Identifying and reducing third-party risk is crucial for businesses to protect their data, reputation, and overall security. However, it must be done while still meeting business needs and complying with changing regulations. During this panel, we will discuss steps you can take to achieve this important balance:

• Conducting a comprehensive risk assessment of potential and existing third-party vendors, and implementing a thorough vendor due diligence process to ensure that you are selecting reliable and secure partners
• Considerations for data protection and privacy
• Establishing clear security requirements
• Including robust risk mitigation clauses in contracts with third-party vendors
• Continuously monitoring and reassessing third-party vendors throughout the relationship to ensure they remain compliant and secure

CDIC Insights

Practical Implications of CDIC Modernization for Member Institutions

Emiel-Johan van der Velden
Head, Depositor Solutions, Insurance & Compliance
Canada Deposit Insurance Corporation (CDIC)

Networking Break

FCPF Considerations – Part II

Looking Ahead for the Next 12 Months

David Chesworth
AVP & Chief Client Protection Officer, Regulatory Compliance
Canadian Western Bank

Lisa Cinelli
VP, Chief Compliance Officer, CAMLO, and Chief Privacy Officer
Equitable Bank

Mark Pratt
SVP, Chief Legal & Compliance Officer, Personal & Commercial Banking, Canada
BMO Financial Group

Strengthening your complaint-handling process and optimizing your whistleblowing program are essential steps in complying with the FCPF and maintaining a high standard of consumer protection. During this panel, we will explore considerations for both aspects, including:

• Enhancing consumer protection and building trust among customers and stakeholders through a strong whistleblowing program
• Establishing an independent and impartial committee to handle whistleblower reports to help avoid conflicts of interest and ensure a fair assessment of the reported concerns
• Regularly communicating the existence and effectiveness of the whistleblowing program to employees, stakeholders, and the public

Cybersecurity Risks

Emerging Cybersecurity Risks Facing Canada’s Financial Institutions and Best Practices for Fostering Cyber Resilience Across the Organization

The Canadian government has named the country’s cyber security a top priority and, as a result, proposed the allocation of CDN $875.2 million ($643.3 million) to bolster its resources to deter, defend, and prevent cyberattacks. During this session, we will explore emerging cybersecurity risks facing Canada’s financial institutions and best practices for fostering cyber resilience across the organization, with discussion points including:

• Addressing the predominant cyber threats to Canadian national security
• Identifying today’s most common cyber threats to Canadian financial institutions and across the globe
• How to prepare for the latest, most-sophisticated techniques used by cybercriminals, including ransomware, spyware, and phishing, to siphon billions out of victims each year

Closing Remarks and Conference Adjourns