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Communicating Effectively

During 2014-2015, OSFI communicated its plans and activities to a wide range of stakeholders via its website and other means. As in previous years, OSFI received many requests to address external conferences and events. The Superintendent and senior OSFI officials delivered presentations across Canada and internationally. The Superintendent appeared before the Senate Standing Committee on Banking, Trade and Commerce, and the Chief Actuary appeared before the House of Commons Standing Committee on Public Accounts.

Coinciding with Jeremy Rudin’s first public address as Superintendent, in September 2014, OSFI began using Twitter to broadcast content to a larger audience. OSFI tweets from two accounts: @OSFICanada (English) and @BSIFCanada (French).

OSFI’s external newsletter, The Pillar, was published four times in 2014-2015. It updates stakeholders on the latest guidelines, notices, public statements, and other pertinent information.

Throughout 2014-2015, OSFI communicated with interested Canadians, including members of the general public, industry, regulators, legislators and the news media, as follows:

  • Served 1,744,643 visitors to OSFI’s website
  • Responded to 9,861 public enquiries, 185 enquiries from Members of Parliament and 175 enquiries from representatives of the news media
  • Delivered over 63 presentations to industry and regulatory forums, including 12 key speeches that were posted to OSFI’s website
  • Processed 43 access to information requests and 24 consultations within permitted statutory timelines, as per the Access to Information Act.

Renewing Technology and Systems

2014-15 marked the successful completion of a five-year Information Technology Renewal program. By the end of the fiscal year, the last three projects concluded as planned and the new systems are providing OSFI with updated business data management capability. OSFI now uses the federal government’s shared SAP platform for its financial and contracting processes; a modern HR Management System enables self-serve transactions; and a Correspondence and Enquiry Management system manages inquiries received from Parliament, federally regulated financial institutions, pension plan members, media and the general public. System upgrades delivered over the preceding four years include: on-line filing for regulatory data; business intelligence analytics tools; a new website; a risk assessment system for the Pension Plans Division; and modernized networking and technology tools.

The overall result is significantly fewer applications and rationalized data, and a strong emerging focus on enterprise information management across the Office.

Managing Human Resources

To achieve its strategic outcomes, OSFI’s priority is to have a high-performing and effective workforce.

In 2014-2015, ongoing risks posed by the current environment, both at the level of the economy and within the financial sector, as well as internal factors, continued to have an impact on how we do our work. To mitigate these risks, a number of priorities were identified through the Human Resources (HR) planning process and the following actions were taken to address gaps:

  • Supported the reorganization of the Supervision Sector, which led to the creation of new sectors for Deposit-taking Institutions, Insurance Institutions and the Supervision Support Group, with staffing expected to be completed early in 2015-2016
  • Provided support and oversight to contain costs and growth in the organization, and helped managers identify and reallocate resources to address organizational priorities
  • Continued to update HR policies and guidelines to provide appropriate guidance to managers and employees and to support their consistent application across the organization
  • Focused on employee engagement by ensuring that managers worked with employees to implement action plans to address issues raised in the bi-annual employee survey done in 2013-2014
  • Provided learning and development opportunities for staff across the organization based on individual learning plans in support of business plans
  • Continued to support managers in handling complex performance, disability and sick leave cases on a timely basis
Photo: Elishka Pinto, Human Resources Advisor, Human Resources and Administration, Corporate Services Sector; Chris Cooper, Administrative Officer, Administration, Corporate Services Sector
Staff image Elishka Pinto
Human Resources Advisor
Human Resources and Administration
Corporate Services Sector
Staff image Chris Cooper
Administrative Officer
Corporate Services Sector