MFCo’s risk management practices are overseen by the Legal, Risk & Compliance Team. Headed by the Head of Legal, Risk, Compliance & Governance, the team includes experienced risk and compliance personnel. The risk management process includes both ongoing monitoring and formal annual risk reviews of MFCo’s business. Risk issues are escalated to senior management with formal quarterly reporting to the MFCo board.

The MFCo Compliance Manager is directly responsible for overseeing compliance with the corporations, privacy and anti-money laundering and counter-terrorism financing acts. The compliance process requires documented policies and procedures that outline requirements for compliance with the various regulatory regimes coupled with monitoring and oversight procedures and appropriate segregations of functions. Compliance issues are escalated to senior management with further escalation to the Financial Services Regulatory Committee. That committee, comprising a majority of external members, receives reports on compliance related issues on a regular basis from the MFCo Compliance Manager.