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Preserving confidence in Canada’s financial system
… back in March, we published Guideline B-15 on Climate Risk Management. And over the summer, OSFI launched its first … and prudential supervision as it pertains to climate risk management. There are also two projects we will be … And we will approach it based on exactly the same risk management principles. In other words, OSFI’s mandate today …
Save the date: OSFI’s first Quarterly Release Day and Industry Day of 2026
… Leader Accountability Consultative Document on Credit Risk Management Streamlining Approvals for Targeted New Entrants … 2:05 p.m. – 2:35 p.m. Consultative Document on Credit Risk Management OSFI is developing a comprehensive Credit Risk Management (CRM) Guideline and seeking early stakeholder …
Audit of regulatory approvals
… approval processes and workflows are supported by the Case Management System (CMS), a custom-built software implemented … and Updating policies, procedures, and guidelines. 2.2 Management Response The Approvals Division would like to … will be leveraged in support of these ongoing efforts. Management agrees with the findings and two recommendations …
Annual Risk Outlook – Semi-annual update – Fiscal Year 2024-2025
… utilities, credit bureaus, market information and records management also expose financial institutions to … third-party industries could lead to inconsistent risk management controls and makes institutions vulnerable to … and monitoring on cyber resilience and third-party risk management of critical outsourced functions. Our assessment …
OSFI releases new framework to strengthen financial institutions’ resilience to cyber-attacks
… with OSFI’s Guideline B-13 – Technology and Cyber Risk Management , OSFI expects FRFIs to have measures in place … Risk Outlook Guideline B-13 – Technology and Cyber Risk Management …
OSFI launches consultation on technology risks in the financial sector
… discussions that will occur will support effective risk management and enhance resilience in the Canadian financial … guidance includes: Guideline E-21 (Operational Risk Management) addresses key expectations and principles for … risks (discussion paper) Strengthening Third Party Risk Management (infographic) …
Audit of Supervision Small and Medium Sized Banks (SMSBs)
… are encouraged to review the findings for applicability. Management Gold Stars Internal Audit (IA) recognizes the … which was noted positively in survey responses. 2.2 Management Response Management agrees with the findings and recommendations …
Chapter 3: OSFI’s legislated reporting requirements
… for financial institutions on B-15: Climate Risk Management so they remain consistent with the Canadian … with legislative requirements. We develop guidance on risk management and mitigation, assess whether pension plans are … bear the responsibility for the sound and prudent management of their pension plans. Interventions In 2024-25, …
Theresa Hinz, Executive Director of Policy and Risk Response and Amar Munipalle, Executive Director Risk Advisory Hub deliver remarks for OSFI’s September 2025 Quarterly Release Day
… and, instead, taking a narrower focus on board and senior management accountability, with a consultative document … (CAR) Guideline Final Guideline E-23 Model Risk Management Strengthening Climate Risk Financial Resilience: … like to discuss is the Final Guideline E-23 Model Risk Management. Model risk is the risk of adverse financial …
Additional Corporate Information for the 2021-22 Departmental Results Report
… its legislation, OSFI’s mandate is: Fostering sound risk management and governance practices OSFI advances a … and take reasonable risks. OSFI recognizes that management, boards of directors and pension plan … financial institutions to develop more robust IT risk management frameworks, including increased cyber security …
Additional Corporate Information for 2023-2024 Departmental Plan
… its legislation, OSFI’s mandate is: Fostering sound risk management and governance practices OSFI advances a … and take reasonable risks. OSFI recognizes that management, boards of directors and pension plan … financial institutions to develop more robust IT risk management frameworks, including increased cyber security …
Additional Corporate Information for 2022-2023 Departmental Plan
… its legislation, OSFI’s mandate is: Fostering sound risk management and governance practices OSFI advances a … and take reasonable risks. OSFI recognizes that management, boards of directors and pension plan … financial institutions to develop more robust IT risk management frameworks, including increased cyber security …
2020 to 2023 Short-form Departmental Sustainable Development Strategy
… OSFI: Ensures that all procurement and/or materiel management specialists complete the Canada School of Public … Target : All of OSFI's procurement and/or materiel management specialists have completed training on green … Indicator : Percentage of procurement and/or materiel management specialists who have completed training on green …
2020 to 2023 Short-form Departmental Sustainable Development Strategy
… OSFI: Ensures that all procurement and/or materiel management specialists complete the Canada School of Public … Target : All of OSFI's procurement and/or materiel management specialists have completed training on green … Indicator : Percentage of procurement and/or materiel management specialists who have completed training on green …
Bank of Canada/OSFI pilot helps Canadian financial sector assess climate change risks
… that defines and promotes best practices in climate risk management in the financial sector. The Bank of Canada joined … on the maturity of climate related governance and risk management practices of Canadian financial institutions, and … level of preparedness for managing risks. More robust management of climate related financial risks is essential …