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OSFI seeks feedback on its draft standardized climate scenario exercise
… system more broadly. The SCSE furthers robust climate risk management, which helps OSFI promote the adoption by … December 22, 2023. “The adoption of sound climate risk management practices at financial institutions will give OSFI … Exercise (SCSE) Methodology Guideline B-15, Climate Risk Management Climate Risk Forum …
2022-2025 Strategic Plan
… financial system Risk Appetite – expand and fortify risk management capabilities and risk appetite to support strategic and operational management Culture – embed our corporate values so that … unnecessary burdens. Read initiative 5 6 Data Management and Analytics OSFI’s data platform enables the …
Seeing the Forest through the Trees: Implementation Challenges in Climate Risk Supervision
… Environmental Risk Moderator: OSFI published climate risk management guidelines in 2023 and just two months ago OSFI … looking at five elements: Governance (the board and senior management’s oversight and governance over the transition … as OSFI has recently issued guidelines on climate risk management, that includes a chapter on disclosure, I wonder …
2A Schedule for Asset Reporting by Counterparty
… Institutions (excluding credit unions)" Manulife Asset Management and subsidiaries are to be reported separately … categories as per the I-I guidelines (e.g. Investment Management Companies, Mortgage Investment … categories as per the I-I guidelines (e.g. Investment Management Companies, Mortgage Investment …
Peter Routledge at House of Commons Standing Committee on Environment and Sustainable Development, Opening Remarks
… at risk of falling short of these principles, we oblige management and boards of directors to take prompt corrective … to compete and take reasonable risks. To support sound management of the financial risks posed by climate change … can become early beneficiaries of sound climate risk management. In closing, OSFI has an explicit mandate to …
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 …
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 …