Chapter 4: Looking forward
As we reflect on fiscal year 2024-25, we celebrate numerous accomplishments and take pride in our role in safeguarding the safety and soundness of Canada’s financial system. Over the past fiscal year, we established clear regulatory expectations and, through our supervisory efforts, effectively monitored and assessed how financial institutions and pension plans met these standards. We promoted strong risk management practices and intervened early when necessary. Additionally, we have evolved our organization to remain agile—strengthening our capacity, mandate, and strategic priorities—enabling us to adapt and thrive amid risk and uncertainty.
As risks in the financial sector continue to evolve rapidly, we remain committed to agility and a forward-looking approach. We envision a dynamic, data-driven regulatory environment that harnesses analytics and automation to enhance oversight. To stay future-ready, it is essential to balance our innovation with resilience. The reinforcements implemented this year lay a strong foundation for this balance. Moving quickly and thoughtfully will be crucial to enabling timely information sharing and decisive action. We also recognize that financial institutions and pension plans have a vital role in managing their own risks. Given the interconnectedness of global systems, effective risk management will require ongoing collaboration with our trusted partners.
Grit, urgency, and integrity are the keystones of our business model. By embracing these critical success factors, we promote effective governance and foster a culture that values challenge, candour, and timely escalation. As we identify emerging challenges and develop solutions, integrated planning and prioritization will guide our execution to achieve the priorities and initiatives outlined in our Strategic Plan 2024-27.
Canada’s financial system stands out globally for its strength and stability. Our banks and insurers are well-capitalized, resilient, and prepared to manage complex risks. Despite an increasingly volatile risk environment, Canadians can have confidence in our robust regulatory frameworks and proactive oversight. This lasting resilience stems from prudent policies, strong governance, and a shared commitment to safeguarding the financial well-being of all Canadians.

Shaquille Gulamhusein, Analyst, Insurance

Farida Morcos, Principal Analyst, Domestic Banking

Tim Hardie, Senior Specialist, Insurance

Mehreen Khan, Principal Analyst, Insurance