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In this episode, CRTA Board member Rob Baldassare speaks with Charles, Gregory, Head of Surveillance and Financial Crime at member firm Data Intellect. In this conversation they discuss the intersection between technical advancement and regulatory oversight and how to balance innovation with ethical standards.

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.

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

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!

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.

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

In the latest episode of our ESG Series, host Donna Bales speaks with Ajay Jindal, Executive Vice President at Decimal Point Analytics about his recent paper - Canada ESG Review 2023. This paper benchmark's Canada's progress against its global peers - showing a significant divergence between progress in asset management and the real economy.

In this episode we discuss the potential of reducing regulatory burden through the implementation of Machine-Readable Regulation. Machine Readable regulation is not a new concept but there has been renewed interest by the industry due to its potential to enhance compliance and risk management and reduce regulatory burden.  In 2016 the Financial Conduct Authority in the UK hosted a Tech Sprint that looked at the whole process of regulatory reporting starting with converting the Handbook into machine-readable text and using this to enable automated advice or personalized filtering. In October 2022  FINRA in the US announced they are using the technology to make their rulebook easier to navigate by building a taxonomy and search tool called FIRST - to help all users (whether human or machine)  easily identify and search applicable rules… And as you will learn in this podcast – regulators from India are also exploring the use of machine readable regulation. Joining me on the podcast today is Shailesh Dhuri, CEO and Founder, of Decimal  Point. Analytics. Decimal Point Analytics provides consulting and market research services and leverages data and artificial intelligence and machine learning  to assist clients with financial research, analysis, modelling, and risk management. Shailesh  is a highly sought-after leader and Innovator in the space of real life applications of artificial intelligent technology that are used in massive data, quantitative, statistical analysis, and algorithms.  

In our latest podcast in the ESG Series, host Donna Bales speaks with Eugenie Casier GRC Director from Clausematch. In this episode they discuss the elements of a ESG strategy, the importance of a setting a purpose and using it as a foundation for your ESG Program. Clausematch is a global regulatory technology software as service provider. The platform empowers companies to collaborate, create, manage and review different types of compliance documents, in real time, with a complete audit trail and live insights, advanced metadata, AI-powered mapping and tagging, intelligent suggestions and workflows, leading to more robust governance.

In this episode of RegTech Round-up, host Donna Bales speaks to Gerry Murtagh, co-founder of RegTick. In this episode they discuss best practices and key focus areas to address some of the organizational challenges of developing a successful ESG Program. Gerry shares several techniques that RegTick uses to reduce complexity - such as VMOST to structure a ESG program, Empathy Mapping to understand your stakeholders and an ESG Health Check to test the health of your ESG program. Be sure to tune in to hear more! Regtick is a visually intuitive, cloud-based, Programme Management platform which simplifies the management of complex regulatory and strategic transformation programs - enabling firms to reduce compliance risk, project cost and uncertainty.

The financial industry has undergone a significant transformation in recent years, with the accelerated shift to digitized services having a profound impact on the banking landscape. Not only has it changed the way financial institutions operate, but it has also affected anti-money laundering risks and financial crime prevention measures across the enterprise. As a result, there has been a marked shift in focus from traditional risk management practices to enhanced business resilience. This new approach emphasizes the importance of preparing for and quickly adapting to potential disruptions to critical financial infrastructure and services. Early adopters of this approach are expected to gain a competitive advantage as they streamline critical services and help to strengthen the wider financial market infrastructure. Regulators in the European Union have expanded the scope of the Digital Operational Resilience Act (DORA) to include obligations designed to ensure that financial institutions' business lines remain operationally resilient against various categories of risk. Similarly, in Canada, the Office of the Superintendent of Financial Institutions (OSFI) has issued updated Third-Party Risk Management (TPRM) guidance and plans to hold a public information session on operational risk and resilience in the first quarter of 2023, with a view to publishing draft revised guidance for consultation in Spring 2023. In this episode Charlene Sebastian, Head of Client Success at MinervaAI talks with Denis Nwanshi, Founder of NetraScale, and the future of secure digital banking research initiative, NetraBank, to explore the intersection between operational resilience and financial crime prevention, with a particular emphasis on the role of next-generation technologies. These technologies can help protect critical financial infrastructure and services while enhancing capabilities for financial crime detection. The use of advanced technologies like artificial intelligence, machine learning, and blockchain can aid in detecting fraudulent activities and mitigating risks. Additionally, the integration of these technologies can help to enhance financial institutions' compliance with regulatory requirements and safeguard against potential threats to their reputation. Denis is an accomplished executive specializing in delivering mission-critical digital platforms, data-driven products and automated infrastructure for highly regulated institutions. He founded NetraScale in 2014, providing high-impact cloud-native architectures and enterprise integration services to clients in the banking, insurance,  retail/commerce and public sectors. With practical knowledge of fintech, regtech, payments modernization, cyber security, operational resilience, and a wide range of next-generation technologies and data management strategies, he has expanded his business to build AI-enabled niche platforms centered on innovation, security and sustainable business value. Denis is a strong advocate for mentoring, design thinking, and agile-lean principles. In his spare time, he enjoys organizing interactive tech talks, panel discussions and hackathons.

In this episode of RegTech Round-up, Charlene Sebastian, Head of Client Success at MinervaAI and strategic advisor to the Canadian RegTech Association (CRTA), talks with Anthony Quinn, Founder and CEO of Arctic Intelligence, a multi-award-winning RegTech firm specializing in software for enterprise-wide audit, compliance, and risk management related to financial crime, about how firms can dramatically simplify the EWRA by maximising their data and using technology to automate the process; to reduce residual risk exposure and be more strategic in the application of enterprise risk controls to improve operational processes, remove bias and drive revenue. Anthony also highlights key findings from the Arctic Intelligence 2022 AML Industry Benchmarking report.

Money laundering and terrorism financing laws apply to millions of businesses, across 30+ industry sectors, and in over 200 Financial Action Task Force (FATF) member countries. And yet, there is no industry standard on how businesses should apply the risk-based approach (RBA) when developing Enterprise-wide money laundering and terrorism financing risk assessments. In this episode of RegTech Round-up, Charlene Sebastian, Head of Client Success at MinervaAI and strategic advisor to the Canadian RegTech Association (CRTA), talks with Anthony Quinn, Founder and CEO of Arctic Intelligence, a multi-award-winning RegTech firm specializing in software for enterprise-wide audit, compliance, and risk management related to financial crime, about how firms can dramatically simplify the EWRA by maximising their data and using technology to automate the process; to reduce residual risk exposure and be more strategic in the application of enterprise risk controls to improve operational processes, remove bias and drive revenue. Anthony also highlights key findings from the Arctic Intelligence 2022 AML Industry Benchmarking report. Many organisations struggle to identify and assess their risks and vulnerabilities to financial crime and as a result may not design, implement and maintain controls that are appropriate and proportionate to these risks.  More often than not enterprise-wide risk assessments (EWRAs) are conducted manually on spreadsheets, which are often not fit for purpose and take too long to complete, resulting in risks being presented to Boards that are more likely than not, out of date.

March is Fraud Prevention month!   Digital Identification Verification (IDV) technologies play a critical role in preventing and detecting identity fraud. Through document verification and liveness checks, IDV solutions can be used to address a number of regulatory identification and know your customer requirements.    While embraced by many digital banks and cryptocurrency exchanges, as part of a frictionless customer on-boarding experience and to automate key anti-money laundering (AML) requirements; traditional banking, wealth management services and credit unions have been slower to implement IDV solutions, citing cost, accuracy and complexity challenges.   In this episode of RegTech Round-up, Charlene Sebastian, strategic advisor with the Canadian RegTech Association (CRTA) Head of Client Success at MinervaAI, chats with Gene DiMira, a Canadian Anti-Money Laundering and Digital Identity pioneer, and Leigh Day, Business Development Manager for Yoti, a leading digital identity provider, about IDV: what it is (and what it’s not), and how you can seamlessly meet critical regulatory requirements. We also demystify some of the key challenges and perceived barriers to implementation and discuss how to prepare for a successful IDV launch. This episode was sponsored by: Yoti ⁠https://www.yoti.com/

In this episode of ESG Insights, host Donna Bales, speaks with Johnny Mattimore, Global Head of Risk and Sustainable Finance at First Derivatives.  We look at ESG from a risk lens - examining regulatory drivers, the maturity of capital market participants in understanding ESG exposures and how we can avoid past mistakes by using open source and proxy data and collaborative efforts for baseline data. Johnny shares First Derivatives efforts in establishing a technology cohort to work on an open source sustainable finance taxonomy - to create open source data models of regulations and have them peer reviewed reducing duplication.