1. Protect your Business February 2018
Show of hands – Who here wants to protect their business?
We are here to talk to you about the importance on managing and identifying your risks and what it means to your business.

2. Ellen Bessner, Babin Bessner Spry LLP
Preparing for an interview with compliance, a regulator or client’s counsel is key because your licence, reputation and livelihood are all at stake.
Ellen Bessner, Babin Bessner Spry LLP
Ellen Bessner is an experienced commercial lawyer
Author of “Advisor at Risk” – a roadmap to protecting your business.
It’s not something you normally think about but the health and value of your business depends on it. 2

3. Of course no risk – likely means no rewards
But managed risk – likely means more bigger rewards
I am talking about the risks that you control – for example, documentation

4. Agenda 1 2 3 Value your business Risk management and your business
Best practices
Normally people think value equals “How much do I make from my business, but there’s more!
Manage your risk
Some best practices to protect the value of your business 3 4

5. Value Your Business CREDIBLE PROFESSIONAL TRUSTED SUCCESSFUL
Manage your business in a way that is…
CREDIBLE
PROFESSIONAL
TRUSTED
The more you are these 3 things – the more value you have
SUCCESSFUL

6. Value your business Manage Risk Know your business Know your products
Few or no controls
Know your business
Know your products
Loss of clients’ trust
Know your clients
Reputational damage
Know your compliance obligations
E.& O. claims
Best practices and training
Legal fees and damages
Treating Customers Fairly
Regulatory investigation
Fines
There are things that value your business and there are things that put that value at risk.
Warnings, supervision, termination
Manage Risk 6

7. Know your compliance obligations
Know your business
Know your products
Know your clients
Know your compliance obligations
Knowing your business, knowing your products, and know your clients – is value
Knowing your compliance obligations, best practices and training while treating customers fairly – is are less damaging than …..(next slide)
Manage Risk
Best practices and training
Treating Customers Fairly 7

8. Regulatory investigation Warnings, supervision, termination
Loss of clients’ trust
Reputational damage
Few or no controls
E.& O. claims
Legal fees and damages
Regulatory investigation
Having few or no controls which de-values your business.
Fines
Warnings, supervision, termination 8

9. Risk management and your plans
Risk management requires you to evaluate your business risks and helps reduce risk by adding controls. Regulation and industry best practices help you control your risk. 1
Close Gap/Risk 4
LIST YOUR RISKS 2
VALUE YOUR BUSINESS
Risk mitigation :
List your risks – examples on the next slide
Understand Compliance Requirements – This is the reason you are here today
Identifying your controls – what controls do you have in place that helps reduce risk ? Example: controls as easy as following regulations and best practices
Document equals close gap – not having consistent files and not documenting your processes – drives down the value of your business.
UNDERSTAND COMPLIANCE REQUIREMENTS
DOCUMENT 3
IDENTIFY YOUR CONTROLS

10. Examples of Improving Your Business
BUSINESS ACTIVITY
SUSTAINABLE BUSINESS
RISK
CONTROL
DEVELOPING A LEAD
CASL non-compliant communication
Consent
Unsubscribe
Document
Text
Efficient
SALES PROCESS
Complaints
Chargebacks
Reputation
Disclosure
KYC
FNA
Reason why
Document
Suitable Sale
Here are some examples to help improve your business
CASL – understanding social media
Sales Process – document, document, document, as part of meeting your client there are templates, rules and reasons why it is important to document.
KYC – A control that helps you identify your client
FNA – Back up to the math (How much)
Reason why document - The purpose (i.e. insurance to protect mortgage

11. Best practices Build your risk strategy
Create habits to keep your business fit
Develop your controls
Understand Compliance Requirements
Why all this?
Carriers care about your business
Regulators care about your business
Bridgeforce cares about your business
What about you? Do you care?
Look for helpful tools and guidance documents
Educate yourself and stay connected with today’s compliance and best practices

12. Bridgeforce provides tools to help
Privacy Breach
Code of Conduct
Disclosure and Privacy
Anti-Money Laundering
Market Conduct Guidance Documents
Compliance News

13. Questions?

14. Thank you!