Justin Smith is the President of Hawkeye Wealth, an investment firm specializing in private real estate and debt investing.

When searching for the right funds to partner with for their investors, Hawkeye analyzed over 75 funds, giving them a unique perspective on the industry.

Join us to learn more about:

• Key takeaways from their due diligence process
• Their experience raising capital from high net worth investors and family offices
• Current challenges and opportunities they see in the market

Speaker: Justin Smith MBA, President, Hawkeye Wealth Ltd.

Before settling down in the Lower Mainland in 2009, Justin called many cities home, including Williams Lake, Quesnel, Kelowna, Montreal, Quebec City, and Edmonton. He is the third of six children (five boys and a girl), an environment he credits for any interpersonal and peacemaking skills.

Justin obtained his Bachelor of Arts in Psychology at the University of British Columbia prior to pursuing an MBA at Simon Fraser University where he met his wife, Elaine. Shortly after completing his MBA, Justin began his career in real estate, working with the largest residential developer in Northeast BC. In 2014, Justin saw the opportunity presented by the 2008 recession in the US and started helping investors participate in value-add apartment building deals across Arizona, Texas, and Georgia, which proved very profitable.

In 2017, he created Hawkeye Wealth with an aim to widen the scope of quality offerings for his investor network, primarily focusing on industrial and residential developments in Western Canada and the US, as well as mortgage funds.

Justin lives in South Surrey with his wife Elaine and son Grayson. When not at work, he enjoys improving his “low and slow” barbecue skills and is an avid Toronto Raptors fan. He is also fluent in Spanish, having spent two years volunteering in Spanish-speaking communities in Quebec.

The post Choosing Wisely – Key Lessons From Analyzing Over 75 Mortgage Funds first appeared on Canadian Association of Private Lenders.

Precisely two years after a mortgage lender has begun to operate as a reporting entity under Canada’s Proceed of Crime (Money Laundering) and Terrorist Financing Act the lender must undertake a Compliance Effectiveness Review (CER). This Review dictated by the legislation and FINTRAC Guidance is best described as a process whereby the lender’s AML/ATF Compliance Program is tested for its completeness, applicability to the lender’s business model and whether the program is effective in what it does. These Reviews are not simple checklist audits but multi-level evaluation assessments using detailed and standardized tools to arrive at a statement whether the program is in place as required and whether it is accomplishing what is intended. A CER is not an audit in the classic sense but an evaluation. There is a difference as Chris will show with his description of the various stages and elements that make up a well-done Review.

Speaker: Christopher R. Walker, B.Sc., M. Criminology, CAMLI-PA

Chris is a criminologist with over 45 years of experience across the public and private sector.  He has degrees from both, McGill University and the University of Ottawa.  He has worked as a forensic psychologist and taught at a variety of post-secondary institutions.   He was a senior researcher and policy analyst with Solicitor General Canada in the 1990’s where he managed evaluation, research, and policy pertaining to the federal government’s proceeds of crime and anti-money laundering law enforcement programs.

He is a founding partner and President of About Business Crime Solutions, Inc. — a consulting firm established in 2000 and dedicated to assisting professionals and organizations meet their compliance requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.  It can be found at www.moneylaundering.ca.

Chris is also one of the founders of the Canadian Anti-Money Laundering Institute, an organization devoted to the training and education of AML/ATF compliance officers. Chris is chair of the annual National Money Laundering in Canada Conference and considered one of Canada’s authorities when it comes to the application of money laundering compliance programs across a wide variety of business and professional sectors governed by Canada’s AML legislation.

The post Compliance Effectiveness Reviews: Testing Your AML Compliance Program first appeared on Canadian Association of Private Lenders.

New obligations for the mortgage sector have been published and will come into effect in October 2024.  The goal of this presentation is to provide an overview of the requirements that include elements of a compliance program, record keeping and reporting.  A documented compliance program is the basis of meeting all reporting entity obligations under the Act and associated Regulations which will contribute to FINTRAC’s mandate to combat money laundering, terrorist financing and threats to the security of Canada.

DATE: February 20, 2024
TIME: 11am – 12:30 pm PT | 2pm – 3:30pm ET
LOCATION: Zoom

SPEAKERS

Mark Sokolnicki

Mark Sokolnicki is a Regional Compliance Manager in the Vancouver Office, and has been with FINTRAC since December 2014.  He has managed and conducted various compliance activities such as outreach presentations and examinations across a wide array of sectors, including substantial involvement within real estate.  Prior to joining FINTRAC, Mark worked in several compliance-related roles with Service Canada and has been a dedicated public servant since 1999.

Chista Kavoosi

Chista is a senior compliance officer and has been with FINTRAC since February 2023. She worked previously at the BC Financial Services Authority, regulating the market conduct of credit unions, insurance companies and trust companies. She has over a decade of experience working in banks and credit unions in both customer facing and head office roles, with a focus on residential and commercial lending compliance.

The post FINTRAC: Information Session on AML/ATF for the Mortgage Sector first appeared on Canadian Association of Private Lenders.

The post The Canadian AML Framework: Proposed Changes Affecting the Mortgage Services Industry first appeared on Canadian Association of Private Lenders.