OSFI’s Diversity, Equity, and Inclusion Strategy 2022-2025

Last year, the Clerk of the Privy Council and the Secretary to the Cabinet released the Call to Action on Anti-Racism, Equity and Inclusion in the Federal Public Service.

Today, I am pleased to announce that OSFI has launched its Diversity, Equity, and Inclusion (DEI) Strategy that builds on work already underway in this area.

The Strategy aims to transform our organization into one that embodies DEI at every level, in everything we do. We believe that diversity, equity, and inclusion are more than points to check off an organizational to-do list – they are traits imbedded in a culture that empowers people to be themselves and bring their best to work every day.

Our goal is to create a sense of belonging for each of our colleagues.

Simply put, we must fully embrace DEI. Not only because it’s the right thing to do, but also because our risk environment demands that unwavering commitment. If we do not bring diverse mindsets to OSFI and provide them a platform to thrive, we will fail to adapt to the extraordinary and complex risks that we face. Therefore, for OSFI, DEI is not only a moral imperative but a strategic imperative.

Since my arrival at OSFI, we have undertaken several major transformational initiatives. Our Blueprint serves as an important self-examination and articulates the direction in which we want to go as an organization. Our 2022-2025 Strategic Plan will provide concrete steps toward reaching those goals and aspirations.

DEI is a central focus of our Blueprint and the new DEI Strategy adds to the momentum we’ve already created. The DEI Strategy is an evergreen document – one that we will adapt and change as we continue to measure, adjust, and improve OSFI’s DEI practices in the months and years to come.

For more background on our efforts in this area, please see my open letter to the Clerk.

Peter Routledge
Superintendent, Office of the Superintendent of Financial Institutions