​IaS
Insight | Advice | Success

IaS Caribbean Consulting is led by Glenna Smith as Managing Director.  Glenna is a Certified Anti-Money Laundering Specialist (CAMS), holds an Advanced Certificate in Managing Virtual Currency and Financial Crime Risks and the President of the Barbados Association of Compliance Professionals.

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About
Glenna gained in-depth knowledge in compliance, anti-money laundering, counter terrorism financing, financial crime, operational risk and governance during 30 years in the financial services sector.  Formerly held the Compliance Officer, AML Officer, Privacy Officer and Ombudsman role at the Toronto head office for a large North American financial institution.
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Glenna Smith is a regulatory compliance expert specializing in AML/CFT with extensive experience advising leading financial institutions. Glenna built and ran successful compliance programs at two Canadian banks as a key member of Senior Leadership Team providing strategic direction, regulatory guidance and compliance management of day-to-day activities. She is a Certified Anti-Money Laundering Specialist (CAMS), holds an Advanced Certificate in Managing Virtual Currency and Financial Crime Risks. Glenna has many years Senior Management experience in consumer regulatory compliance for multi-jurisdiction banks

Glenna has authored a number of articles and is a lively presenter who speaks regularly at conferences regionally and internationally. She is a is a former member on various Canadian Bankers Association Committees including Privacy, FCAC, AML and Ombudsman working groups.
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Glenna sits on the Caribbean Regional Compliance Association (CRCA) committee and is President of the Barbados Association of Compliance Professionals.

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Specialties:

​Anti-Money Laundering (AML) and Financial Crime (FC) Compliance
Combatting the Financing of Terrorism
Human Trafficking Awareness for General & Financial Indicators
AML Risk Assessments
Independent AML Compliance Program Reviews
Expert AML/CFT Financial Crime Training Facilitator
Virtual Currency Compliance
Operational Risk Assessments
FATCA Compliance
Privacy & Cost of Borrowing Compliance
Regulator Relationship Management
Project Management 

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Experience

• CRCA Director & Conference Committee Member
  Caribbean Regional Compliance Association
  Feb 2018 – Present
• Managing Director, Smith Compliance Consulting Inc.
  2011 – Present
  Location: Barbados
  
  Whether you need to have individuals identified in-person in Barbados for AML due diligence purposes, are creating a new anti money laundering / countering the financing of terrorism compliance program from scratch, upgrading policies, need an independent AML/CFT assessment or developing training we will do the work for you. Our in-depth knowledge and experience will go far to implement a tailored solution to you.
  
  Glenna is a professional and highly engaging trainer and give courses in anti-money launder, countering the financing of terrorism, human trafficking, managing financial crime risks related to virtual currency, ethics, bribery and corruption and board governance among others.
  
  Served as an expert witness in Toronto in January 2018 in a fraudulent ponzi scheme where the behaviour, activity and transactions were studied for unusual activity and signs of financial crime.
  
  A hands-on practitioner approach to help achieve better compliance for clients' needs and challenges, having worked directly in the field as a Compliance Officer facing regulators, managing inspections and enabling ongoing compliance.
  
  Whether your organization needs are:
  • the creation of a new AML/CFT compliance program from scratch
  • an independent review/audit/test of an AML/CFT compliance program
  • written policy development, or
  • training course development and delivery
  
  Glenna can advise how to manage compliance risks effectively. We offer both off-site and on-site assistance and are flexible to provide enhanced understanding and awareness of regulatory obligations. Engagements can be comprehensive covering a broad range of needs to be particular to cover a specific situation or problem

• Director of Barbados International Business Association
  Barbados International Business Association
  Dates Employed Jun 20 19 – Present
  
  
• Committee Director - Caribbean Regional Compliance Association (CRCA)
  Dates Employed Jan 2018 – Present
  Location: Caribbean Nations Director on the Caribbean Regional Compliance Association (CRCA) made up of volunteer professionals supporting compliance efforts across the region.

 

• Member - AML Training Faculty
  Top Tier 1 Global Bank
  Dates Employed Dec 2015 – Present
  A member of the world wide AML Training faculty for a top Tier 1 Global Bank to train staff and raise awareness of the impact and importance of fighting financial crime.

 

• President, Barbados Association of Compliance Professionals
  Dates Employed: Jun 2015 – Present
  Location: Barbados

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• Compliance Officer & Director, Capital One Canada
  Dates Employed: 2006 – 2011
  Location:Toronto, Canada
• Reported to Corporate Compliance Officer for all card businesses. Mandated to build Compliance Management Program for the Canada line of business and establish a clear line of sight to the Global Compliance Officer. Designed structure, recruited top talent and grew strong team of Compliance SMEs from 3 to 12 people.
  
  - Implemented Compliance Management Program which identified issues and achieved and sustained successful internal audits and regulatory exams.
  - Partnered with 15 business units as a member of the Senior Leadership Teams for Core Card and Partnership, more effectively addressing regulatory issues while building a culture of compliance.
  - Created compliance annual objectives to support business imperatives resulting in goals and scorecards being achieved while maintaining risk profile.
  - Member of New Products and Initiatives Risk Committee, meeting bi-weekly to provide regulatory guidance and approval of new ideas which mitigated compliance risk and improved corporate governance.
  - Implemented a more robust compliance team, growing from 3 to 12 people in five years. Maintained team’s talent and expertise through careful recruitment, certifications, conferences, Webinars, and cross-sharing with international units.
  - Structured, managed, and grew a Marketing Assurance Review team within Compliance to maintain service levels for the Creative Marketing and Advertising groups through a period of significant growth that increased submissions by 300%.
  - Converted regulatory requirements, policies, and controls into a central system resulting in a snapshot of the state of compliance for Global Compliance Officer.
  - Established positive relationships with key bank regulators - OSFI, FCAC, FINTRAC, OPC, CRTC and OBSI, fostering collaboration and a no surprise approach.

 

• Vice President, Canada Compliance Manager
  Bank of America/ MBNA Canada Bank
  Dates Employed: 2001 – 2006
  Reported to Global Compliance Officer, supported the consumer credit card line of business. Accountable for: AML, Privacy, regulatory relationship management, Legislative Compliance Management program, and operational risk. Led a team of six.
  
  - Effectively developed and directed all aspects of anti-money laundering (AML) program.
  - Implemented an FIU that identified, analyzed and reported suspicious transactions.
  - Created an AML committee and chaired this diverse group which met monthly to review transaction analyses results and discuss industry trends and emerging regulatory changes.
  - Drafted corporate policies, educating employees on their AML obligations, oversaw independent testing of procedures.
  - Raised the profile of AML as the highest inherent regulatory risk to the business.
  - Lead contact with the Department of Finance and other government agencies on behalf of several financial institutions in respect of collective efforts to establish new, industry-friendly Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations.
  - Managed the Bank’s relationship with the Office of the Superintendent of Financial Institutions (OSFI), including managing onsite examinations and acting as the primary liaison between OSFI and senior management.
  - Drafted and approved marketing materials, ensuring compliance with applicable laws. Provided input to over twelve business units regarding current practices and proposed projects with compliance improvements implemented increasing risk management.
  - Played a key role in vendor review, assessing vendor materiality and ensuring compliance with OSFI Guideline B-10.