Professional Bio


Karen Irwin
Managing Director
Professional Background
As a Managing Director in the Risk & Compliance practice, Karen is a senior Executive Advisor and execution-oriented Consultant focused on the financial services sector. Karen has demonstrated proven results for global clients improving key control areas, including risk identification and assessment, monitoring and supervision, testing and analytics through primarily advisory as well as internal audit engagements.   Karen is a regulatory compliance specialist with over 20 years of experience assisting leading organizations in compliance governance and transformation, issue remediation and enforcement action resolution.  She is able to leverage best practices from a vast network of compliance executives across the financial services industry. She has extensive experience working with Global Canadian Banks and Life Insurers, Securities Dealers, Asset Managers and Trust Companies.   Prior to joining Protiviti, Karen was a partner at Deloitte Canada, where she built a market leading regulatory consulting practice.
Project Experience
Regulatory Compliance:
  1. Designing and implementing Integrated AML Compliance Risk and Control Assessment Model inclusive of Enterprise-wide AML Legislative Compliance Management Program, AML Inherent Risk Assessment and Self Assessment Methodology, Enterprise-wide AML Compliance Monitoring and Testing Framework, supporting Monitoring and Testing Methodology and Global Testing Scripts
  2. Designed and implemented an Enterprise-wide Compliance Risk Management Program and Compliance Monitoring and Testing Standards
  3. Established sustainable Compliance PMO for remediation of compliance findings and ongoing management of compliance projects allowing bank to become more proactive and strategic
  4. Redesigned Global Compliance program resulting in retraction of increased OSFI oversight
  5. Designed and implemented sustainable Legislative Compliance Management Programs that have continued to meet regulatory requirements and OSFI expectations
  6. Conducted independent reviews of Global Compliance Programs leading to compliance program enhancements
  7. Increased compliance process efficiency and effectiveness through business requirements design for Compliance Technology Solutions
  8. Designed and implemented Risk Based Compliance Planning Methodology allowing CCO to successfully demonstrate business case to Audit Committee for additional compliance resources
  9. Served as Independent Compliance Consultant appointed under court order of the Ontario Securities Commission, to consult on and oversee development of action plan to remediate compliance deficiencies and test subsequent implementation
  10. Assisted Trust Company remediate findings in LCM and AML leading to subsequent expansion of license and business operations to accept deposits
  11. Assisted Large Global Life Insurer, Global Canadian Bank and several mid market financial institutions develop AML Inherent Risk Assessment and Control Assessment Methodologies to successfully meet regulator expectations
  12. Assisted start up banks and trust companies design compliance, risk and control programs for regulatory approvals
  13. Conducted independent reviews on Anti-Money Laundering/Anti-Terrorist Financing programs of Federally Regulated Financial Institutions, Securities Dealers, Asset Managers and Credit Unions
  1. Certified General Accountant
  2. Diploma in Accounting and Finance
Professional Activities
  1. Chaired a legislative compliance management working group for the largest banks and life insurers in Canada (2004 to 2012)
  2. Chaired an anti-money laundering roundtable for foreign banks in Canada (2006 to 2012)
  3. Frequent invited speaker on regulatory and compliance topics with organizations such as the Canadian Institute, Thomson Reuters the CLHIA, among others 


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