Claire Shen

Executive Overview

Claire Shen is the Co-Founder, Chief Compliance Officer (CCO), and Head of Operations at Currency Mart Inc. Over the past decade and a half, Claire has built and maintained Currency Mart's regulatory compliance infrastructure, ensuring full adherence to Canadian federal anti-money laundering legislation while scaling the operational footprint of retail branches across Ontario and Manitoba.

As Chief Compliance Officer, Claire serves as the primary designated liaison with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under Money Services Business license M11432814. Her leadership has established Currency Mart as one of the most transparent, trusted, and strictly regulated non-bank foreign exchange providers in Canada.

Education & Credentials

Claire holds a Bachelor of Commerce (B.Com) in Marketing and Finance from the University of Ottawa. Her combined expertise in commercial finance, regulatory frameworks, and consumer trust has been central to shaping Currency Mart's operational ethos: delivering transparent, bank-beating foreign exchange rates without sacrificing rigorous statutory compliance or customer privacy.

Areas of Expertise

Compliance Leadership & FINTRAC Governance

Under Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), Money Services Businesses are held to strict statutory verification, reporting, and record-keeping mandates. Claire directs Currency Mart's compliance regime, encompassing:

• Mandatory Identity Verification: Rigorous Know-Your-Customer (KYC) protocols for transactions meeting regulatory thresholds, ensuring authentic government-issued photo identification is verified and recorded.
• Regulatory Reporting: Timely filing of Large Cash Transaction Reports (LCTRs), Suspicious Transaction Reports (STRs), and Terrorist Property Reports to FINTRAC.
• Sanctions & PEP Screening: Screening transactions against domestic and international sanctions lists and Politically Exposed Person (PEP) databases.
• Comprehensive Record Retention: Strict statutory 5-year retention of identification and transaction logs in compliance with Section 54 of the PCMLTF Regulations.
• Staff Compliance Training: Developing and administering mandatory annual AML/ATF training for all retail tellers and management personnel.

Retail Branch Operations & Privacy Safeguards

Alongside regulatory governance, Claire directs day-to-day retail operations across Currency Mart's four physical branches—including Winnipeg Downtown Skywalk, St. Vital Shopping Centre, Toronto Downtown PATH at Richmond-Adelaide Centre, and North York at Yonge Sheppard Centre. She oversees cash inventory management, physical vault security protocols, customer service quality, and extended-hours teller scheduling.

As Currency Mart's Chief Privacy Officer, Claire enforces the company's Zero Data Selling Guarantee, ensuring client records gathered for FINTRAC compliance are guarded by 256-bit encryption, physical access controls, and strict compliance with the federal Personal Information Protection and Electronic Documents Act (PIPEDA).

Contact Information