Building a Global Compliance Powerhouse: Claudius Otegbade on Leadership, Regulation, and Scale

In an exclusive interview with Black Business Magazine, Claudius Otegbade, Founder and Lead Consultant at C&G Professional Services Inc., shares a grounded perspective on navigating one of the most complex and credibility-driven sectors in business. From advising financial institutions and FinTechs to supporting regulatory readiness and forensic investigations, Claudius has built a firm that bridges technical expertise with real-world execution.

Interview By SK Uddin

Claudius O. Otegbade is an accomplished compliance strategist and forensic accounting professional with over 18 years of international experience spanning anti-money laundering (AML), fraud investigations, regulatory advisory, and litigation support.

He is the Founder and Practice Leader at C&G Professional Services Inc., where he supports financial institutions, FinTechs, money service businesses, crypto dealers and regulatory bodies across Canada and internationally in meeting complex AML and regulatory requirements, particularly under PCMLTFA, FINTRAC guidelines, and the Retail Payment Activities Act (RPAA).

Claudius also works closely with law enforcement agencies and law firms on fraud and forensic investigations, expert reports, and litigation matters involving financial crime. His work bridges regulatory compliance, financial accountability, and investigative integrity.

He has held senior roles across North America and Africa, including as Director of Compliance at WFCU Credit Union, and AML senior consultants at MNP and Grant Thornton respectively. In Nigeria, he led several forensic audits and financial crime engagements across the oil & gas, banking, and public sectors.

Claudius is a Founding Board Member of the ACFCS Toronto Chapter and Co-founder of the Nigerian-Canadian Compliance Professionals (NCCP). A frequent speaker at compliance and financial crime conferences, where he brings practical insight into emerging regulatory risks and capacity building within the profession. He holds an MBA and an array of global designations including CPA (USA), FCA (Nigeria), CAMS, CFE, CFCS, CFI, CCI, and CIPP/C.

Above all, Claudius is committed to mentoring the next generation of compliance professionals and shaping a stronger global response to financial crime.

You’ve built C&G Professional Services Inc. into a boutique Black-owned compliance and forensic consulting firm serving banks, FinTechs, MSBs, and emerging payment companies in Canada and beyond. What inspired you to launch your own firm in such a highly regulated, specialized space, and what gap did you see that others were not filling?

What inspired me to launch C&G was a combination of experience, market observation, and personal conviction.

Over the course of my 12 year career in Canada, I was privileged to work with two of the Big Six accounting and advisory firms in Canada in their AML and forensic groups, and later held a leadership role with one of the six largest credit unions in Ontario. That combination gave me a unique perspective. I was not only advising clients, but also on the receiving end, implementing and operationalizing those recommendations within a regulated financial institution.

That experience highlighted a consistent gap in the market. Many firms provide technically sound advice, but it is often too theoretical or not fully aligned with the operational realities of the business. The real challenge is not just designing compliant frameworks, but ensuring they can be executed effectively and sustained as the business grows.

At the same time, I was observing broader market trends. Canada has seen significant growth in FinTechs, particularly in the remittance space. As an immigrant from Nigeria, I understand firsthand how important cross-border payments are. Many immigrants maintain strong financial ties to their home countries across Africa, the Caribbean, and Asia. I saw a clear opportunity to support these businesses with advisory services that not only reflect Canadian regulatory requirements, but also an understanding of the markets they serve.

C&G was created to support these companies and others with compliance solutions that are practical and grounded in real business needs.

As a Black entrepreneur in Canada’s financial sector, what were the biggest challenges you faced in winning the trust of large institutions and regulators, and how did moments like being chosen over bigger firms by a major client shape your confidence and growth strategy?​

As a relatively young firm, one of the initial challenges was overcoming perception, particularly when engaging with institutions accustomed to working with larger, more established firms. There is often a natural bias toward scale and brand recognition.

For me, credibility was built on experience and consistency. Having worked with two of the Big Six accounting and advisory firms, I had early exposure to many of these institutions. In some cases, stakeholders were already familiar with my work and technical approach. In others, trust had to be built over time through delivery.

Referrals and repeat engagements have been central to our growth. Many of our clients come through existing relationships, and our growth has been largely organic as a result.

We have also seen validation at the institutional level. Some financial institutions maintain approved lists of AML consulting firms, often dominated by larger firms. In certain cases, clients have obtained exemptions to engage our services, and those institutions have accepted our work. In other instances, we have been added to approved vendor lists after our reports or compliance programs were reviewed.

I recall an AML engagement where a senior executive described our work as one of the most detailed they had seen. Feedback like that validates our approach and has shaped our growth strategy. Rather than competing on size, we focus on delivering high-quality, practical solutions and demonstrating thought leadership.

C&G now supports clients with RPAA readiness, FINTRAC examinations, virtual assets, cross‑border payments, and an automated AML effectiveness review platform. How do you balance enabling innovation in areas like crypto and FinTech while ensuring your clients stay ahead of evolving regulatory expectations?

We don’t choose between innovation and compliance. We design compliance in a way that enables innovation.

The starting point for us is understanding both the regulatory landscape and the business itself. This includes staying current with evolving expectations from FINTRAC, the Bank of Canada under the RPAA, and global standards around virtual assets, including emerging areas such as stablecoins. We continuously monitor these developments to ensure our advice remains relevant and forward-looking.

That insight is not only reflected in our advisory work, but also in how we build and refine our technology. Our AML effectiveness review platform is regularly updated to incorporate regulatory changes, allowing us to identify gaps early and make practical, timely recommendations.

We also emphasize early integration. For many FinTechs and virtual asset service providers, we support them at the build stage, helping design KYC processes, onboarding flows, and transaction monitoring frameworks that are practical and scalable. We stay closely aligned with third-party technology providers, ensuring we understand the tools our clients rely on and can guide them effectively.

Ultimately, when compliance is embedded early and built with the business in mind, it becomes an enabler of innovation rather than a constraint.

You co‑founded the Nigerian‑Canadian Compliance Professionals network and helped found the ACFCS Toronto Chapter, mentoring the next generation of compliance leaders. What do you see as the biggest opportunities and barriers for Black professionals who want to build careers—and eventually firms—in compliance, risk, and financial crime prevention?

There are significant opportunities for Black professionals in compliance as the regulatory landscape continues to evolve. Regulators and financial institutions are placing greater emphasis on compliance, risk, and governance, which is driving demand for skilled professionals.

With the right experience, professionals can move across sectors, from consulting to financial institutions to regulators, and eventually into entrepreneurship.

At the same time, there are real barriers. Access and exposure remain key challenges. Many opportunities in this field are relationship-driven, and without the right networks or mentorship, it can be difficult to break in or advance. Representation at senior levels is also still limited.

That is why initiatives like the Nigerian-Canadian Compliance Professionals network and the ACFCS Toronto Chapter are important. They create visibility, provide mentorship, and help bridge that gap.

My advice is to be intentional. Build strong technical foundations, seek out mentors, and take advantage of volunteering opportunities through organizations such as ACFCS, ACAMS, TCAE and similar associations. These platforms provide access to networks, leadership, and real exposure. Over time, consistency, competence, and relationships will open doors, including the opportunity to build your own firm.

Looking ahead, what advice would you offer to Black entrepreneurs building professional services firms in complex, credibility‑driven industries about positioning their expertise, leveraging referrals, and scaling sustainably while staying true to their values?

My advice would start with building on a strong foundation of trust and integrity. Your reputation is your currency. Doing the right thing, even when no one is watching.

Equally important is setting up your business properly from the outset. This includes incorporating your business, ensuring compliance with CRA requirements, maintaining proper financial records, and obtaining professional liability insurance. These are not just administrative steps, they signal credibility to clients and partners.

Positioning your expertise also requires visibility. Having a strong digital footprint, a credible website, and being intentional about thought leadership through speaking engagements and industry participation are key. You want to be seen and recognized for the value you bring.

At the core, however, is technical competence. This is a hands-on field. It is not enough to speak about compliance or risk, you must be able to execute. Rolling up your sleeves and doing the work yourself, especially in the early stages, builds both confidence and credibility.

Referrals naturally follow from quality work and strong relationships.

As you scale, the focus should be on maintaining quality, staying true to your values, and building systems that allow you to grow without compromising the standard that built your reputation.

Disclaimer: The views and opinions expressed in this interview are those of the guest and do not necessarily reflect the official policy or position of Black Business Magazine or its affiliates. The magazine is committed to supporting Black entrepreneurs and fostering conversations that promote inclusion and economic empowerment.