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Financial Services

These documents walk you through what you need to do, step by step. You can purchase the program components separately or as a full package all at once.

Credit Union AML Compliance Effectiveness Review

Background

Many different types of companies are considered to be under the financial services umbrella, including banks, credit unions, caisses populaires, financial services cooperatives, trust companies, loan companies and agents of the Crown that accept deposit liabilities.  In addition to a reporting and regulator relationship with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), federally regulated companies are also regulated by the Office of the Superintendent of Financial Institutions Canada (OSFI).  Provincially regulated credit unions and caisses populaires will have additional provincial regulators.

How Outlier Can Help

Because financial services companies are large, and often diversified in their product offerings, Outlier offers custom AML program component design.  The documentation that we create is intended to work with your existing AML and CTF compliance regime and business practices.

In all of our engagements, we look for ways to streamline your existing practices and empower business, while mitigating your money laundering and terrorist financing risk.  Our consultants have completed work for both provincially and federally regulated financial services companies that includes:

We also offer customized training packages that incorporate your practices including specialized training for:

If you have been contacted by FINTRAC and require immediate assistance, please take a look at our FINTRAC resources page or contact us.

Program Components

Credit Union AML Compliance Effectiveness Review

 

This document includes:

  • A reviewer guide with practical tips to help your reviewer complete testing and reporting
  • Working papers in Microsoft Excel to keep track of your testing data
  • A model report to summarize your findings

A compliance effectiveness review is similar to an audit. It is required at least every two years and tests your compliance program and your operations against Canadian AML and CTF requirements.

$1,000.00 CAD

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The Compliance Effectiveness Review has three fully editable components: