Office of the Superintendent of Financial Institutions Canada

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The Office of the Superintendent of Financial Institutions Canada (OSFI) is responsible for the regulation and supervision of all federally chartered, licensed or registered banks, insurance companies, trust and loan companies, cooperative credit associations and fraternal benefit societies.[1]

The OSFI was established on 02 July 1987 by the Office of the Superintendent of Financial Institutions Act and is an independent government agency that reports to Parliament through the Minister of Finance.[2]


People

The Superintendent works alongside three Assistant Superintendents. They are:

Julie Dickson, Superintendent[3]: Julie Dickson was appointed Superintendent in July 2007 for a seven-year term. She joined the Office of the Superintendent of Financial Institutions (OSFI) in April 1999, and was Assistant Superintendent from January 2000 to June 2006, when she was appointed Deputy Superintendent. In October 2006, she was appointed Acting Superintendent. Prior to OSFI, Dickson worked for 15 years with the Department of Finance.
Robert Hanna, Assistant Superintendent[4]: Hanna was appointed Assistant Superintendent in August 2007. He joined OSFI’s predecessor, the Inspector General of Banks, in 1984 as a research officer and has held a number of positions with increasing responsibilities.
Ted Price, Assistant Superintendent[5]: Price was appointed Assistant Superintendent in June 2006. He joined OSFI in 2001, serving in several senior management roles. Prior to joining OSFI, he was a senior executive with Prescient Markets, Inc., an internet-based investment bank, from 2000 to 2001. Between 1983 and 1999, he worked for ScotiaCapital, Inc. He began his career in bond trading and pension fund asset management.
Gary Walker, Assistant Superintendent[6]: Walker was appointed Assistant Superintendent in November 2008. He joined OSFI in 2002 as a Senior Director. Prior to OSFI, Walker held a number of senior-level corporate services positions in several (non-financial) companies.

Previous staff include:

Nicholas Le Pan, Superintendent (September 2001 - October 2006): Le Pan joined OSFI as Deputy Superintendent in 1995. Before that he was a Special Advisor in the Canadian Department of Finance. He is now Chairman of the Canadian Public Accountability Board, which promotes promoting high quality, independent auditing.[7]
John Doran, Assistant Superintendent (2000 - 2006): Doran was appointed Assistant Superintendent on May 1, 2000. Prior to OSFI, he worked for 12 years as Executive Vice-President and Chief Financial Officer of the Canadian Imperial Bank of Commerce.
John R. V. Palmer, Superintendent (1994 - 31 August 2001): Before joining OSFI, Palmer spent 28 years with KPMG and its predecessor firms, serving as Deputy Chairman and Managing Partner of KPMG (Canada) from 1989 to 1993. After OSFI, he became Deputy Managing Director of the Monetary Authority of Singapore (MAS) from 01 February 2002, overseeing the regulation and supervision of the banking and insurance industries.[8]
Donna Pasteris, Assistant Superintendent (08 April 2002 - 31 August 2007): Pasteris retired in 2007. Before OSFI she had worked for a range of non-financial companies.
Coleen Volk, Assistant Superintendent (November 2007 - November 2008): Before joining OSFI, Volk was Assistant Deputy Minister of the Department of Finance’s Corporate Services Branch. Between 1996 and 2005, she worked for the Canada Mortgage and Housing Corporation, Canada’s national housing agency. Her private sector experience includes eight years with Canadian Imperial Bank of Commerce (CIBC) and the Toronto Dominion Bank (dates unclear) in the areas of financial systems, corporate finance, treasury and risk management.[9]


Revolving Door.jpg This article is part of the Revolving Door project of Spinwatch.




Resources

Notes

  1. ↑ OSFI, Our History, accessed 31 March 2010.
  2. ↑ OSFI, Our Mandate, accessed 31 March 2010.
  3. ↑ OSFI, Julie Dickson, accessed 31 March 2010.
  4. ↑ OSFI, Robert (Bob) Hanna, accessed 31 March 2010.
  5. ↑ OSFI, F. Edward (Ted) Price, accessed 31 March 2010.
  6. ↑ OSFI, Gary Walker, accessed 31 March 2010.
  7. ↑ CPAB, 'Chairman's Message,' accessed 31 March 2010.
  8. ↑ MAS, 'John Palmer Appointed Deputy Managing Director, Monetary Authority of Singapore,' Press Release 2001, accessed 31 March 2010.
  9. ↑ OSFI, Coleen Volk, accessed 31 March 2010.
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