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2021 UPDATE | Canada

2021 UPDATE | Canada

by Starling Insights

Starling Insights Editorial Board

May 17, 2021


Canada’s Office of Superintendent of Financial Institutions (OSFI) has identified four key goals in its 2019-2022 Strategic Plan, one of which is aimed at improving financial institutions’ resilience to non-financial risks (NFR). To achieve this, the regulator intends to continue in its development of regulatory and supervisory approaches to technology risk and to adopt new approaches to the mitigation of culture and conduct risk.1

In its Annual Report 2019-2020, OSFI reports on its first year of progress towards achieving these goals. Despite the coronavirus pandemic, OSFI Superintendent Jeremy Rudin writes that OSFI has made “progress on this plan, which was realized through the ongoing commitment, dedication and professionalism of our employees.”2 

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