Shilpa Kharat
Maple,ON
Summary
Dynamic compliance leader with extensive experience with the Canadian Federal and Provincial Regulations, driving regulatory adherence and enhancing audit processes. Proven track record in team leadership and stakeholder engagement, successfully implementing compliance initiatives that improved operational efficiency. Adept at navigating complex regulations while fostering a culture of continuous improvement and collaboration.
Overview
27
27
years of professional experience
1
1
Certification
Work History
Director, Compliance
Exchange Bank Of Canada
Toronto, Ontario
08.2022 - Current
- Directed the regulatory compliance management program, providing results directly to the Chief Compliance Officer and Senior Management.
- Demonstrated a comprehensive understanding of regulations from key bodies, including OSFI, FINTRAC, IIROC, MFDA, and the Privacy Commissioner, FCAC.
- Implemented a comprehensive monitoring and testing plan to ensure compliance with regulatory standards.
- Managed OSFI and other regulatory audits, ensuring thorough compliance with established guidelines.
- Conducted periodic risk assessments of all areas of the organization related to regulatory compliance.
- Drafted new policies and procedures as needed in response to changes in applicable laws or regulations.
- Participated in meetings with external stakeholders such as auditors or regulators.
- Assisted senior leadership in preparing responses for government inquiries concerning organizational operations.
- Provided guidance on how best to respond when a violation is suspected or discovered.
- Defended organization against allegations of noncompliance by providing evidence demonstrating adequate measures were taken to comply with relevant law or regulation.
- Reviewed existing policies and procedures to ensure they are up-to-date with changing legal and regulatory obligations.
- Engaged with external auditors during routine audits of organization's practices related to regulatory compliance.
- Trained staff on relevant topics such as industry best practices, ethical conduct, and data privacy principles.
Lead Advisor - Regulatory Compliance
Laurentian Bank of Canad
Toronto, Ontario
03.2021 - 08.2022
- Ensured compliance with applicable laws, regulations, policies, and procedures across all business units.
- Managed a team of 10+ employees by providing guidance, setting goals and objectives, delegating tasks, and monitoring performance.
- Conducted regular performance appraisals for direct reports to provide feedback on their work performance.
- Identified areas of improvement within existing operations through process analysis and benchmarking studies.
- Created detailed reports on project progress for senior management review.
- Facilitated team meetings and workshops to align on goals and strategies.
- Managed and reviewed updates to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA/PCMLTR) requirements to ensure compliance.
- Executed key compliance tests to uphold standards set by Privacy, FCAC, FINTRAC, and AML regulations.
Manager Regulatory Compliance
HSBC Canada
Toronto, Ontario
03.2016 - 02.2021
- Advised management on potential risks associated with proposed business initiatives.
- Maintained current knowledge of relevant laws, regulations, guidelines, and standards.
- Conducted internal audits to identify areas of non-compliance.
- Investigated potential violations of regulations or standards.
- Maintained up-to-date knowledge of changes in relevant laws and regulations.
- Led key reviews and recommended group leaders to finalize findings, provide audit ratings, and assess action plans to address issues.
Compliance Manager Governance Group Testing
CIBC
Toronto, Ontario
10.2014 - 04.2016
- Conducted regulatory compliance examinations within governance and functional groups at CIBC, ensuring adherence to industry standards.
- Provided timely and proactive compliance advice and independent oversight to ensure adherence to OSFI’s E-13 regulatory requirements.
- Led and executed periodic quality assurance reviews to assess the consistency and effectiveness of internal compliance processes.
- Collaborated with the Director of Governance Group Testing to define audit examination scopes and participated in strategic initiatives.
Manager AML– Capital Market
Bank of Montreal
Toronto, Ontario
01.2014 - 10.2014
- Provided subject matter expertise on AML and compliance services for the Capital Markets division at Bank of Montreal.
- Led AML and compliance initiatives in Capital Markets, offering expert guidance to ensure regulatory compliance at Bank of Montreal.
- Provided AML consultancy and expertise to enhance KYC file remediation for high-risk clients within BMO Capital Markets.
- Supervised team activities to ensure adherence to AML protocols and effective client remediation processes.
Project Manager – AML/ATF
State Bank of India Canada
Toronto, Ontario
04.2013 - 01.2014
- Advised team of analysts on AML/ATF matters, ensuring compliance with customer identification and due diligence protocols.
- Directed the end-to-end implementation of AML/ATF projects across Canada, ensuring compliance with regulatory standards.
- Supported the CAMLO in managing adherence to privacy standards and the organization's Privacy Policy.
Senior Manager - AML Risk & KYC Compliance
Citibank
Singapore
08.2008 - 05.2012
- Directed the regulatory audit by the Monetary Authority of Singapore, achieving adherence to AML and KYC compliance requirements. Managed World Link Pay link check processing for Singapore and Asia Pacific clients, overseeing check stock inventory, and timely delivery to meet client requirements.
- Managed World link Pay link check processing for Singapore and Asia Pacific clients, overseeing check stock inventory and timely delivery to meet client requirements.
- Led a team to ensure seamless application operations and effective project management, enhancing overall efficiency.
- Ensured compliance with Citi and MAS regulatory standards, maintaining internal control standards and addressing audit points and regulatory issues.
- Oversaw AML processes across APAC countries, ensuring compliance with regional standards and enhancing risk management strategies.
- Managed product risk assessments and transaction monitoring to improve AML controls and mitigate risks effectively.
- Directed day-to-day AML workflow, ensuring adherence to SLAs and BPAs, while leading Project enhancements and regional metric reconciliations.
Assistant Vice President: Branch Sales & Operation
Assistant Vice President: Head Branch Sales & Operations
Mumbai, India
03.2001 - 07.2008
- Led branch operations and sales targets as Assistant Vice President, enhancing efficiency and performance at Bandra West Branch, Mumbai.
- Directed comprehensive branch operations and sales strategies, leveraging 10 years of Finacle expertise to drive success.
- Led a branch operations team, including an extension counter, managing a team of 25 officials.
- Oversaw Concurrent, Internal, and Tax Audits for the branch, maintaining high standards of accuracy and compliance.
- Managed Forex dealings and provided exceptional service to NRI clients, ensuring compliance with Anti Money Laundering regulations.
- Monitored transactions in new accounts and ensured strict adherence to KYC guidelines and auditing standards.
Assistant Manager Fund Operations
State Bank of India- Mutual Funds
Mumbai, India
05.1998 - 05.2001
- Executed corpus reconciliation and ensured alignment between registrar's book and fund's records.
- Led audit processes, including SEBI and interim audits, ensuring compliance and accuracy.
- Compiled and analyzed mutual fund sales data through MIS for registrar and investor service centers.
Education
MBA - International Business Management
(Symbiosis Institute of Management Studie
India03-2004
Intermediate Chartered Accountant - Business Accountancy
Institute of Chartered Accountants
India03-1998
BBA - Accountancy And Finance
Narsee Monjee College of Commerce And Economics
India03-1996
Skills
- Regulatory compliance
- Auditing processes
- Team leadership
- Stakeholder engagement
- Process improvement
- Teamwork and collaboration
Accomplishments
- Chairman's Champions award with Axis Bank India
- Outstanding Performer (RCM program) HSBC Bank Canada
- Dynamic Team Leader - CCO's award at CitiBank Singapore
Affiliations
- Proficient in Microsoft Word, Excel, Visio, PowerPoint
- Expert in Regulatory Compliance GRC tools such as MANTAS, Resolver, Ethidex, Allesa
Certification
- International Compliance Association-International Diploma in Governance, Risk & Compliance (UK)
- Certified Risk & Compliance Management Professional -CRCMP (US)
- Association of Certified Anti-Money Laundering Specialists ACAMS
- Branch Managers Course (BMC) Canadian Securities Institute (Canada)
- Chief Compliance Officers Qualifying Exam (CCO) Canadian Securities Institute (Canada)
Languages
English
Full Professional
Hindi
Professional
Marathi
Professional
References
References available upon request.
Timeline
Director, Compliance
Exchange Bank Of Canada
08.2022 - Current
Lead Advisor - Regulatory Compliance
Laurentian Bank of Canad
03.2021 - 08.2022
Manager Regulatory Compliance
HSBC Canada
03.2016 - 02.2021
Compliance Manager Governance Group Testing
CIBC
10.2014 - 04.2016
Manager AML– Capital Market
Bank of Montreal
01.2014 - 10.2014
Project Manager – AML/ATF
State Bank of India Canada
04.2013 - 01.2014
Senior Manager - AML Risk & KYC Compliance
Citibank
08.2008 - 05.2012
Assistant Vice President: Branch Sales & Operation
Assistant Vice President: Head Branch Sales & Operations
03.2001 - 07.2008
Assistant Manager Fund Operations
State Bank of India- Mutual Funds
05.1998 - 05.2001
MBA - International Business Management
(Symbiosis Institute of Management Studie
Intermediate Chartered Accountant - Business Accountancy
Institute of Chartered Accountants
BBA - Accountancy And Finance
Narsee Monjee College of Commerce And Economics
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