Notice – OSFIʼs Ottawa Office

March 12, 2020 – OSFI Ottawa staff asked to work remotely for a temporary period

An OSFI employee located in Ottawa is being tested for COVID-19. Please note that, at this time, it is not a presumptive or confirmed case.

OSFI has decided that in an abundance of caution to ask employees at the Ottawa offices to telework temporarily. Approximately 360 employees have been asked to work from home as a result. The Toronto, Vancouver and Montreal offices will remain open.

This action is part of OSFI’s precautionary and proactive approach to ensure that risk is not only minimized for our employees, but also that we are able to continue to deliver on OSFI’s mandate and respond to what continues to be an evolving situation.

As part of our risk management processes, OSFI has developed a Business Continuity Plan (BCP). The actions that OSFI has taken are consistent with our BCP, specifically, that we have a workforce that can continue to work remotely.

OSFI takes seriously the need for operational resilience for itself and the institutions it oversees. During this period OSFI will continue to deliver on its mandate and work with institutions and regulatory partners to contribute to the stability of the Canadian financial system.

OSFI is an independent federal government agency that regulates and supervises banks, insurance companies and private pension plans in Canada to determine whether they are in good financial condition and meeting their regulatory and supervisory requirements.