Dedicated to the highest standards of regulatory compliance.
EBCFX is built with its integrated Compliance Verification System (CVS) at the core of the software.
Exchange Bank of Canada’s regulatory compliance and risk management programs focus on leveraging new technologies and partners to continuously develop robust policies, guidelines, training and risk-assessment tools and models.
Effective Regulatory Framework
EBC’s Anti-Money Laundering (AML) program deters, detects, and reports suspected money laundering and terrorist financing activity. Our proprietary software, EBCFX (for financial institutions), is built around our proven Compliance Verification System (CVS).
Proprietary Software
EBCFX is core to facilitating "Know Your Customer" (KYC) best practices, prudent due diligence, and effective monitoring processes for EBC and its financial institution clients. We use various analytical and statistical processes to assess and monitor transactions for suspicious activities and to identify transactions that meet the regulatory reporting requirements.
Strong Governance
EBC’s Board of Directors oversees our regulatory compliance and risk management programs and ensures our internal control framework is effective on an enterprise-wide level.
Farzana Esmail
Chief Compliance Officer, Chief Anti-Money Laundering Officer
Ms. Esmail is responsible to oversee the AML/ATF and Compliance program at EBC. Ms. Esmail's role evolved from the Deputy CAMLO in 2019, to CAMLO in Dec 2020. In March 2022, her role was as Interim CCO and CAMLO and is now the CCO/CAMLO for EBC. She has over 20 years of experience in regulatory compliance and AML/ATF through several projects within financial industry segments, including mid and large size banks in all 3 lines of defence.
Prior to joining EBC, Ms. Esmail oversaw the Capital Markets AML at BMO for 4 years, and was in the AML and Risk advisory services with Deloitte for over 12 years. Ms. Esmail is CAMS certified.
Katie Davis
Treasurer
Ms. Davis is the Treasurer of EBC and CXI, responsible for managing the financial risks across the organization through the development of policy metrics and procedures that reduce exposure to foreign exchange and liquidity risks. Ms. Davis oversees both corporate treasury and trading functions at EBC and CXI, which include liquidity risk management and cash flow forecasting, global banknote inventory hedging and risk management, and trading activities related to the international payments business segment. Ms. Davis is the Chair of the Liquidity Management Committee of EBC and CXI, with oversight responsibility of the organization’s global cash and liquidity position.
Ms. Davis brings to the Group her experience working in investment banking and commercial banking in New York’s money center banks, where she advised corporate treasury teams with best practice risk mitigation strategies. In her role as Treasurer, Ms. Davis applies her risk management-centered experience to enable informed decision-making across the organization.
Ms. Davis has lived in France, Italy and in various locations across the United States. She holds her bachelor’s degree in economics and French from Rutgers University, Douglass College, where she completed her honors thesis in economics.
Dennis Winkel
Chief Risk Officer, Chief Privacy Officer
Mr. Winkel is the Chief Risk Officer and Chief Privacy Officer of EBC and its parent company, CXI. Mr. Winkel has more than 25 years of risk management experience comprising financial and non-financial risk in a variety of cultural and linguistic contexts: Netherlands, Australia, Spain, Japan and Canada. Mr. Winkel started his career in a Dutch business of ING Group in the Netherlands, followed by roles at the corporate headquarters of ING Group, ING Direct, and ING Direct Australia. Mr. Winkel subsequently worked as market and operational risk manager at the ING Direct Treasury in Spain, and was the head of financial risk management for over two years in Japan during the start-up of ING Direct Japan. In 2009, he continued his career in Canada at ING Direct in financial risk and enterprise risk management. He moved to Scotiabank in 2013 as Vice President of liquidity and interest rate risk. He was the secretary of the Bank ALCO at Scotiabank and recognition ambassador of the global risk management group in 2017 and 2018.
Mr. Winkel has a Masters of Financial Economics from the Free University in Amsterdam and is a Certified EFFAS Financial Analyst (“RBA”). He is a member of the Canadian Asset and Liability Management Association (CALMA), and the North American Asset and Liability Management Association (NALMA). He has been teaching a banking simulation course for executives at the Advanced Risk Management Program of Wharton University / RMA since 2011.