Gender-based analysis plus for 2024-2025 Departmental results report
Section 1: institutional GBA Plus governance and capacity
Governance
OSFI is a prudential financial regulator, focused on financial stability and the solvency, liquidity, safety, and soundness of federally regulated financial institutions (FRFIs) and private pension plans (FRPPs). OSFI's focus is on controlling and managing risks to FRFIs and FRPPs to ensure such institutions can continue to provide services and maintain market confidence.
OSFI does not provide services or benefits to individual Canadians. Its clientele is restricted to federally regulated entities, which include all banks in Canada, and all federally incorporated or registered trust and loan companies, insurance companies, cooperative credit associations, fraternal benefit societies, and private pension plans. OSFI's scope of regulation does not include consumer or consumer-related issues or the securities sector, which are the responsibility of other agencies, both federal and provincial.
Actions have been taken to advance the OSFI Diversity, Equity, and Inclusion Strategy and Action Plan (DEI plan) that support the goals of GBA Plus, including: the continuation of the development of the Pay Equity Plan as required by the Pay Equity Act, the drafting of an employment equity plan, and the revision of the Corporate Policy Framework to include GBA Plus.
Capacity
OSFI is one of the agencies under the Finance portfolio. In the context of its legislative and regulatory work, including statutory and regulatory amendments, work is normally led by the Department of Finance where OSFI's role in this regard is typically a supporting role.
During the 2024-25 reporting period, OSFI continued to be strongly committed to advancing diversity, equity and inclusion (DEI) and implemented key activities of the DEI plan, including the development of a draft pay equity plan and the conduct and completion of an Employment Systems Review, which informed the development of a draft Employment Equity Plan for the 2025-2028 period. DEI was also embedded in OSFI’s 2024-2026 Culture Action Plan. Course offerings from the Canada School of Public Service on GBA Plus and on Applying the GC Digital Standards and Gender-based Analysis Plus were promoted as part of the International Woman’s Day celebration. In addition, GBA Plus was added to OSFI’s Corporate Policy Framework (the Framework) and will be supported through training and the development of job aids and tools. Embedding GBA Plus into the Framework means that any internal policy must apply a GBA Plus lens when it is designed, reviewed or updated.
Human resources (full-time equivalents) dedicated to GBA Plus
For the 2024-25 reporting period, OSFI did not have any Full-Time Employee Equivalents (FTE) dedicated to GBA Plus implementation. However, the Diversity, Equity, and Inclusion team (3 full-time equivalents) continued to work on initiatives that are related to GBA Plus through the implementation of the DEI Strategy and Action Plan. In February 2025, a senior executive was appointed as the Champion to support the Employment Equity and Diversity Advisory Committee and the Inclusion Network, (a “grassroots” network of employee resource groups which includes a gender-focused stream). The Champion supports these bodies dedicated to promoting inclusion by engaging staff across all levels, ensuring that inclusion is part of OSFI's culture through continuous learning and development and integration in programs.
Section 2: gender and diversity impacts, by program
Core responsibility: Financial Institution and Pension Plan Regulation and Supervision
Program name: Federally Regulated Private Pension Plans
- Program goals: Not available
- Target population: Specific regions or sectors of the economy: Financial and Insurance Sectors
- Distribution of benefits: Not available
- Specific demographic group(s) to be monitored: Not available
- Key program impacts* on gender and diversity: Not available
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Other key program impacts: These responses apply to all OSFI programs under the core responsibility Financial Institution and Pension Plan Regulation and Supervision as presented in the current reporting framework.
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In its regulatory and supervisory role, the OSFI’s primary interactions and clientele are federally regulated financial institutions and pension plans, and the scope of regulation does not include consumer or consumer-related issues or the securities sector. Given its mandate, the OSFI does not provide direct services or benefits to individual Canadians. The OSFI's programs, supporting its first core responsibility, align with the "Economic Participation and Prosperity" pillar of the Gender Results Framework.
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GBA Plus data collection plan: In reporting year 2024-2025, the OSFI did not collect GBA Plus data and as a result was not able to quantify the distribution of benefits by gender, income level, or age group. Similarly, no program indicators identified impacts on these sub-populations.
Core responsibility: Financial Institution and Pension Plan Regulation and Supervision
Program name: Regulatory Approvals and Legislative Precedents
- Program goals: Not available
- Target population: Specific regions or sectors of the economy: Financial and Insurance Sectors
- Distribution of benefits: Not available
- Specific demographic group(s) to be monitored: Not available
- Key program impacts on gender and diversity: Not available
- Key program impact statistics: Not available
- Other key program impacts: Same response as above
- Supplementary information sources: Not available
- GBA Plus data collection plan: Nothing to report for 2024-25. Same response as above.
Core responsibility: Financial Institution and Pension Plan Regulation and Supervision
Program name: Regulation and Guidance of Federally Regulated Financial Institutions
- Program goals: Not available
- Target population: Specific regions or sectors of the economy: Financial and Insurance Sectors
- Distribution of benefits: Not available
- Specific demographic group(s) to be monitored: Not available
- Key program impacts on gender and diversity: Not available
- Key program impact statistics: Not available
- Other key program impacts: Same as above
- GBA Plus data collection plan: Nothing to report for 2024-25. Same response as above.
Core responsibility: Financial Institution and Pension Plan Regulation and Supervision
Program name: Risk Assessment and Intervention – Federally Regulated Financial Institutions
- Program goals: Not available
- Target population: Specific regions or sectors of the economy: Financial and Insurance Sectors
- Distribution of benefits: Not available
- Specific demographic group(s) to be monitored: Not available
- Key program impacts* on gender and diversity: Not available
- Key program impact statistics: Not available
- Other key program impacts: Same as above
- GBA Plus data collection plan: Nothing to report for 2024-25. Same response as above.
Core responsibility: Actuarial Services to Federal Government Organizations
Program name: Actuarial Valuation and Advice
- Program goals: Not available
- Target population:
- Specific regions or sectors of the economy: Public Sector (Federal Departments and Agencies; Members of Parliament)
- All Canadians: General Public
- Distribution of benefits: Not available
- Specific demographic group(s) to be monitored: Not available
- Key program impacts on gender and diversity: Not available
- Key program impact statistics: Not available
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Other key program impacts: Demographic trends are considered in actuarial analyses, and the Office of the Chief Actuary performs an enabling function to other government organizations through the provision of actuarial services. It provides checks and balances on future costs of pension plans under its responsibility and performs statutory actuarial valuations of various programs, including the Canada Student Loans Program.
At a high level, the Actuarial Valuation and Advice program align with the "Economic Participation and Prosperity", "Education and Skills Development", and "Poverty Reduction, Health and Well-Being" pillars of the Gender Results Framework.
- GBA Plus data collection plan: Nothing to report for 2024-25. Same response as above.
Core responsibility: Internal Services
Program name: Internal Services
- Program goals: Not available
- Target population: All OSFI Employees
- Distribution of benefits: Not available
- Specific demographic group(s) to be monitored: Not available
- Key program impacts on gender and diversity: Not available
- Key program impact statistics: Not available
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Other key program impacts: In 2024-25, OSFI continued to implement its Diversity, Equity, and Inclusion Strategy and 3-year Action Plan, and a number of ongoing activities had positive implications for GBA Plus work in 2024-2025. These included:
- Use of self-identification information to support staffing activities. The OSFI achieved a 99% completion rate in its 2024-2025 self-identification campaign.
- Completed an Employment Systems Review to support the renewal of OSFI’s Employment Equity Plan.
- Introduced the Accessibility Implementation Working Group and launched the Accessibility Employee Survey.
- Promoted Diversity, Equity, and Inclusion training to OSFI employees.
- Launched OSFI Culture Plan which embeds diversity, equity, and inclusion as foundational pillars.
- Enhanced the presentation of diversity data supporting various HR programs and activities allowing tracking of trends over time.
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GBA Plus data collection plan: In 2024-25, the OSFI did not collect data specifically for GBA Plus analysis. However, it conducted a targeted self-identification campaign (February 2025) which achieved a 99% completion rate. The campaign collects voluntary identity data such as gender, race, disability, ethnicity, religion, etc.
The enhanced dashboards will continue to inform our programs in human resources management, and employment equity goals.