The Canadian Regulatory Technology Association (CRTA) is pleased to announce that it has appointed three additional advisors to its Strategic Advisory Board. The advisors are Daniel Leslie – Attorney, Norton Rose Fulbright; Sylvia McGratten – Vice President, Internal Audit, Scotiabank; and Loren Schwartz – Head of Regulatory Reporting Services, CIBC World Markets. This brings the advisory group to nine members representing key parts of the RegTech sector, with expertise from a variety of disciplines and backgrounds.
The CRTA is a not-for-profit organization focused on solving regulatory challenges through collaborative efforts among key RegTech stakeholders: regulated entities, technology vendors, regulatory bodies, government, and professional service providers.
Commenting on these appointments, Wendy Rudd, member of the board of directors, said, “We are delighted to welcome these innovative and knowledgeable individuals as advisors. These appointments will help the CRTA deliver on its goals to facilitate dialogue, raise standards, and promote growth and innovation within the Canadian RegTech ecosystem.”
Daniel is a New-York- and South-Africa-qualified banking and financial regulatory lawyer based in Norton Rose Fulbright’s Toronto office. A financial crimes specialist, he advises on bank regulatory matters including international anti-money-laundering (AML) and anti-corruption compliance, as well as new technologies. He has provided banking and regulatory advice to prominent Canadian, U.S. and European financial institutions, as well as other ‘reporting entity’ clients, on compliance with regulatory laws and international best practices. Daniel authored the textbook, Legal Principles for Combatting Cyber-laundering, following research into global bank regulations and cyber-security at the Max Planck Institute in Freiburg, Germany. He has a Ph.D. in International Anti-Money-Laundering Regulations and served as an Associate Legal Officer at the International Criminal Court.
Daniel Leslie said, “We have seen momentum for RegTech adoption pick up, but there is much more to be done. Technology cannot create change on its own; data standards and guidelines are needed to improve the accuracy and transparency of compliance. I believe that the CRTA can act as a neutral party to bring together RegTech stakeholders and drive change in this area.”
Sylvia has more than 20 years’ experience in financial services, specializing in banking, brokerage, capital markets, mutual fund and insurance operations. She has regulator, industry and consulting experience focused on policy development and regulatory interpretation, implementation of regulatory requirements, compliance assessment and reporting, and governance oversight across multiple business lines and functions. Currently, Sylvia is a member of Scotiabank’s Internal Audit department. In this role, she oversees and leads a team of auditors responsible for determining whether internal controls, risk management and governance processes across the bank’s global Wealth Management and Insurance businesses and the global Compliance function are adequately designed, implemented, and operating effectively. A Chartered Professional Accountant, Sylvia completed her graduate studies at McGill University and has an undergraduate degree from Western University. She articled with Deloitte, in their Financial Institutions audit practice.
On working with the CRTA, Sylvia McGratten said, “I am excited about the opportunity to assist in building awareness and promoting the adoption of RegTech within the financial services community.”
Loren Schwartz has over 20 years experience in financial services, specializing in Capital Markets Technology, Project and Product Management, Finance and Operations. Loren has spent the last eight years developing products and programs in Risk, Regulatory Reporting, AML/Know your Client (KYC) and Transaction Monitoring that have helped his clients maintain their regulatory compliance. In his current role, Loren oversees and leads a department of product development teams focused on the design, development, testing, implementation and operation of the bank’s Capital Markets Client Data, Regulatory Reporting and Transaction Monitoring solutions. Loren holds an MBA and BBA in Finance from the Schulich School of Business.
Commenting on the appointment, Loren Schwartz said, “Throughout my career, I have often seen opportunities to improve compliance efficiencies, but have faced cost and time constraints. Greater collaboration between regulators and the industry towards more open data standards and unified data frameworks would greatly improve analytic capabilities and accuracy of risk assessments. I look forward to providing leadership to the CRTA to compel change.”
The Canadian Regulatory Technology Association
The Canadian Regulatory Technology Association is a not-for-profit organization focused on solving regulatory challenges through collaborative efforts between key RegTech stakeholders: regulated entities, technology vendors, regulatory bodies, government and professional service providers. The goal is to facilitate dialogue, raise standards, and promote growth and innovation within the Canadian RegTech eco-system. The organization will endeavour to solve regulatory challenges through collaborative discussion and engagement in proof-of-concept initiatives.
Donna Bales email@example.com 647-530-8380; Wendy Rudd firstname.lastname@example.org
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