In a recent interview with Banking Risk and Regulation's John Crowley, Ben Gully, Deputy Superintendent at Canada's Office of the Superintendent of Financial Institutions (OSFI), discussed the regulator's focus on non-financial risks in its new supervisory framework.
"On the risk front, we've moved from a classic financial risk approach to one where we are in the arena of non-financial risks — climate, technology, cyber and geopolitical," Gully said. “This view of financial strength and control needs to be augmented with broader notions of resiliency, both operational and financial. It is an approach that is more focused on outcomes, rather than on inputs alone.”
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion
Sign in and be the first to comment.