Office of the Superintendent of Financial Institutions
As part of OSFI’s approval processes for applicants and users of the Standardized Approach (TSA) and the Advanced Measurement Approach (AMA) for operational risk capital modeling, institutions are required to populate and submit a standard self-assessment based on the minimum criteria defined in OSFI’s Capital Adequacy Requirements (CAR) guideline and the Basel Committee on Banking Supervision (BCBS) 2011 document Principles for the Sound Management of Operational Risk.
On June 29, 2016, the Office of the Superintendent of Financial Institutions (OSFI) issued Guideline E-21 Operational Risk Management which provides OSFI’s expectations regarding the management of operational risk. In support of the guideline, OSFI has created an Operational Risk Self-Assessment template. To avoid duplication, OSFI has revised the TSA & AMA Self-Assessment template to remove criteria already included in the Operational Risk Self-Assessment template. Applicants and users of TSA and AMA are now required to complete the Operational Risk Self-Assessment template and the revised 2017 TSA & AMA Self-Assessment on an ongoing basis as required by OSFI.
Further questions may be directed to Denise.Price-Hoo@osfi-bsif.gc.ca.
Operational Risk Division
Annex – Revised 2017 TSA & AMA Self-Assessment Template
The self-assessment template sets out the expectations of the requirements for TSA & AMA applicants and users in terms of the minimum criteria as defined in OSFI’s Capital Adequacy Requirements (CAR) guideline as well as BCBS Principles for the Sound Management of Operational Risk. The Template is divided into two worksheets: ORM Practices and AMA Methodology. Details on each of the worksheets are as follows:
A mapping of the 2012 TSA & AMA Self-Assessment Template to the E-21 Self-Assessment template is available on request.