Office of the Superintendent of Financial Institutions
On March 12, OSFI disclosed that one of its Ottawa employees was undergoing testing for the COVID-19 virus, and that as a precautionary measure Ottawa staff have been asked to work from home temporarily. The employee has received a negative test result.
This does not impact OSFI’s March 13 decision to implement its Business Continuity Plan (BCP), which directs staff in all four of OSFI’s offices (Montreal, Ottawa, Toronto, Vancouver) to telework until April 5, 2020.
The decision to implement our BCP ensures continuity of OSFI operations. It provides stability to the organization and allows us to mobilize our workforce to maintain our agility and responsiveness.
Operational resilience for OSFI and regulated entities is essential and OSFI will continue to deliver on our mandate of protecting depositors, policyholders, creditors of financial institutions and pension plan beneficiaries as we work with institutions and regulatory partners to contribute to the stability of the Canadian financial system.
OSFI is an independent federal government agency that regulates and supervises banks, insurance companies and private pension plans in Canada to determine whether they are in good financial condition and meeting their regulatory and supervisory requirements.