Changes to OSFI's Executive Leadership Team

Publication type: Letter
Date: June 16, 2026
To: Federally regulated financial institutions

Today, we are advising our regulated entities of organizational changes at OSFI that will come into effect this fall.

As you are aware, Kathy Thompson, Deputy Superintendent Integrity, National Security and Integrated Solutions and Assia Billig, Chief Actuary are retiring.

I am pleased to share that Josée Turcotte has been appointed Deputy Superintendent, Integrity, National Security and Integrated Solutions, effective September 8, 2026.

Ms. Turcotte is returning to OSFI, bringing extensive public and private sector experience to this role. She previously served at OSFI as Executive Director of the Emerging Risk Operations Directorate, where she led the management of Non‑financial risks and the development of OSFI’s regulatory responses in areas including climate risk, digital innovation, technology and cybersecurity, Third‑party risk, culture and compliance, and integrity and security. Most recently, she served as Executive Vice President, Chief Operating Officer and Chief of Staff at the Ontario Securities Commission (OSC), where she led key operational and strategic functions and provided direct support to the Chief Executive Officer. Her career includes other senior roles at the OSC, HSBC Bank Canada, the Alcohol and Gaming Commission of Ontario and the Competition Tribunal.

She holds a Master of Laws (LL.M.) in business law from Osgoode Hall Law School, as well as civil law and common law degrees (LL.L. and J.D.) with honours from the University of Ottawa. She also holds the ICD.D designation and is a member in good standing of both the Ontario and Quebec bars.

Further to this, I’m pleased to announce the appointment of Laurence Frappier as our new Chief Actuary, effective October 1, 2026. Ms. Frappier joined the Office of the Chief Actuary (OCA) in 2011 and is currently a Senior Director. In this role, she leads a team that prepares actuarial reports and studies and provides actuarial and advisory services to various stakeholders on the Canada Pension Plan, the Old Age Security Program, the Canada Student Financial Assistance Program, the Canadian Dental Care Plan, the Employment Insurance Program, and benefits offered to federal public servants and Veterans.  Prior to joining the OCA, she worked in private pension consulting.

She holds a Bachelor of Science in Mathematics from the University of Montreal and is a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries.

If you have any questions, please do not hesitate to contact me.

Sincerely,

Peter Routledge
Superintendent