Complete CU Services Consulting & Internal Audit Services

Pierre Jean (PJ) Gallant has had a distinguished career in audit, financial institutions and regulatory oversight. When FINTRAC's mandate was expanded in December 2001 to provide the Canadian Security Intelligence Service (CSIS) with information on terrorist financing that threatened the security of Canada, PJ formed an integral part of the creation and implementation of AML/ATF controls at CIBC. In CIBC’s Business Control Group, he was the lead for the National AML-FINTRAC Governance Committee for Eastern Canada. This committee designed controls for the implementation of AML requirements. PJ then became a Senior Compliance Officer for CIBC’s Legal & Compliance Group supervising Quebec, the Atlantic provinces, and Canada’s Territories. In this role, he designed and implemented the Compliance Testing Manuals to guide and ensure consistency for all compliance testing across Canada. This covered OSFI, CDIC, FCAC, MFDA, AMF, IIROC, and a specialized auditing program adapted to FINTRACs testing requirements. PJ coached the Executive Management Team in Eastern Canada to implement and follow AML/ATF controls in CIBC’s back office (Intria), CIBC’s field operations including staff and the branch network to mitigate risks and regulatory sanctions. PJ also identified significant gaps in the banking network for misreported LCTRs and chaired projects to report them to FINTRAC. PJ became a Senior Manager, Internal Audit & Corporate Security at CIBC and won an achievement award for initiating, creating and implementing new tests and recommended controls and policies to mitigate AML/ATF risks nationwide. He developed, designed and implemented Continuous Monitoring and Auditing model on products across Canada’s network that increased Internal Audit’s coverage for OSFI’s assurance and OSFI Partners (FINTRAC, CDIC, FCAC). Further, PJ designed a reporting structure, gave proactive, independent recommendations to mitigate risks in Governance Committees and liaised with Senior Management on a regular basis and assessed market conditions to project potential emerging risk and mitigate negative impacts. In 2010, as the Director, of Internal Audit for Legal & Compliance, and Wealth Management at National Bank of Canada he managed the supervision and oversight responsibilities of the Legal & Compliance Group for the National Bank Investments Inc. (“NBI”) and National Bank of Canada (NBC). His audit team monitored the Legal Affairs and Compliance Group of the two bank entities in order to implement an effective program and report to OSFI. Further, he guided the two Bank’s Corporate Compliance departments to create, redesign, and maintain policies and procedures to comply with provincial and federal regulations (OSFI, OSC, IIROC, FINTRAC MFDA) as well as B-10, Outsourcing of Business Activities, Functions and Processes, which sets out OSFI’s expectations. Finally, PJ spent 3 years as a Senior Regulator of Risk Management at FSRA - Regulator of the Credit Unions system in the province of Ontario where testing of FINTRAC requirements was included among other key responsibilities. Since PJ has left FSRA, he has been completing the various audits and consulting projects for Credit Unions and schedule “B’’ banks across Canada.xt and edit me. It's easy.