Jean-Michel Desrosiers is employed with Office of the Superintendent of Financial Institutions Canada, registered with Shared Services Canada. When weaknesses are identified, OSFI intervenes early and works with executive management, boards and pension plan administrators to correct matters.

Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987, to protect depositors, policyholders, financial institution creditors and pension plan members, while allowing financial institutions to compete and take reasonable risks. OSFI is funded from fees charged to regulated entities.

For example, the Financial Institutions Supervisory Committee, whose members are OSFI, the Department of Finance, the Bank of Canada, the Canada Deposit Insurance Corporation and the Financial Consumer Agency of Canada, meets at least quarterly to share information on matters relating to the supervision of federally regulated financial institutions. OSFI has earned a strong international reputation through its active participation in such international organizations, which allow it to share Canadian perspectives and help shape international rule setting. OSFI has earned a strong international reputation through its active participation in such international organizations, which allow it to share Canadian perspectives and help shape international rule setting. Company profile page for Office of the Superintendent of Financial Institutions of Canada including stock price, company news, press releases, executives, board members, and contact information The Office of the Chief Actuary is an independent unit housed within OSFI that provides a range of actuarial valuation and advisory services to the federal government. The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987 to contribute to the safety and soundness of the Canadian financial system.

Devesh (Dave) Jailal is employed with Office of the Superintendent of Financial Institutions Canada, registered with Shared Services Canada. OSFI is the primary regulator and supervisor of federally regulated deposit-taking institutions, insurance companies, and private pension plans. OSFI also works with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which is responsible for ensuring compliance with Canada’s Office of the Superintendent of Financial Institutions About OSFI The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987, to protect depositors, policyholders, financial institution creditors and pension plan members, while allowing financial institutions to compete and take reasonable risks. OSFI’s scope of regulation does not include consumer or consumer-related issues or the securities sector, which are the responsibility of other agencies, both federal and provincial. OSFI’s goal is to balance competitiveness with financial stability, and international standards with Canadian market realities. Financial institutions frequently cite third party risk as a top issue due to increasing engagement and reliance on third parties. This includes actuarial reports on the Canada Pension Plan (CPP), Old Age Security Program and the Canada Student Loans Program. Federally regulated entities include all banks in Canada, and all federally incorporated or registered trust and loan companies, insurance companies, cooperative credit associations, fraternal benefit societies and private pension plans. And OSFI doesn’t cost Canadian taxpayers any money.

Although the Chief Actuary reports to the Superintendent, he or she is solely responsible for the content and actuarial opinions in the reports.

A properly functioning, efficient financial system in which Canadians can place their trust and confidence is essential to Canada’s economy. Although OSFI plays an important oversight role, it does not manage the operations of institutions or pension plans. OSFI also works with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which is responsible for ensuring compliance with Canada’s OSFI's activities can be divided into two broad functions: regulation and supervision.

OSFI’s regulation and supervision activities play a key role in contributing to public confidence in the Canadian financial system.

The Office of the Superintendent of Financial Institutions (OSFI) is an independent federal government agency that regulates and supervises more than 400 federally regulated financial institutions and 1,200 pension plans to determine whether they are in sound financial condition and meeting their requirements. OSFI supervises by analyzing financial and economic trends to identify emerging issues that could adversely affect institutions. Media Contact: Annik … Please enable scripts and reload this page.

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