AML Model and Data Risk Management, and Recent Bill C-12’s Update to Canada

Overview of financial crime systems development and the model life cycle, including the principles and standards that define a sound model.
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This event will provide an overview of financial crime systems development and the model life cycle, including the principles and standards that define a sound model. Topics will cover the end-to-end model life cycle, including model design, development, implementation, validation, ongoing monitoring, change management, and decommissioning. The event will also explore the importance of data governance, data quality, and data lineage, including the policies, roles, ownership, and controls that help ensure data used in models is accurate, complete, timely, and fit for purpose, as well as how data flows from source systems into models and the impact of data quality issues, limitations, and gaps on model outcomes.

In addition, participants will gain insight into ongoing testing, monitoring, and optimization activities that support model effectiveness over time. This includes conceptual soundness assessments, model calibration and periodic reassessment of thresholds and parameters, functional and end-to-end testing within the operational environment, and model tuning activities designed to improve model performance and effectiveness.

The event will also cover updates to Canada's AML compliance regulation, particularly Bill C-12, which received Royal Assent on March 26, 2026. This legislation considerably enhances FINTRAC's enforcement capabilities and increases fines for AML violations.

Agenda
Check In Start: 4:30 pm PST
Presentations Start: 5:00 pm PST
Presentation Ends: 6:00 pm PST
Networking: 6:00 -8:00 pm PST