Gender-based analysis plus for 2022-2023 Departmental Results Report

Core responsibility: Financial Institution and Pension Plan Regulation and Supervision

Program name: Regulatory Approvals and Legislative Precedents
Program goals: Not available
Target population: Specific regions or sectors of the economy: Financial and Insurance Sectors
Distribution of benefits: Not available
Specific demographic group outcomes: Not available
Key program impacts* on gender and diversity: Not available
GBA Plus data collection plan: In reporting year 2022-23, OSFI was not in a position to quantify the distribution of benefits by gender, income level, or age group. Similarly, no program indicators identified impacts on these sub-populations. In the future, OSFI’s programs will be reviewed from a GBA+ perspective.

Program name: Regulation and Guidance of Federally Regulated Financial Institutions
Program goals: Not available
Target population: Specific regions or sectors of the economy: Financial and Insurance Sectors
Distribution of benefits: Not available
Specific demographic group outcomes: Not available
Key program impacts* on gender and diversity: Not available
GBA Plus data collection plan: Nothing to report for 2022-23. Same response as above.

Program name: Risk Assessment and Intervention – Federally Regulated Financial Institutions
Program goals: Not available
Target population: Specific regions or sectors of the economy: Financial and Insurance Sectors
Distribution of benefits: Not available
Specific demographic group outcomes: Not available
Key program impacts* on gender and diversity - Key program impact statistics: Not available
Other key program impacts: These responses apply to all OSFI programs and core responsibilities as presented in the current reporting framework.
In its regulatory and supervisory role, OSFI’s primary interactions and clientele are federally regulated financial institutions and pension plans and the scope of regulation does not include consumer or consumer-related issues or the securities sector. Given its mandate, OSFI does not provide direct services or benefits to individual Canadians. OSFI's programs, supporting its first core responsibility, align with the "Economic Participation and Prosperity" pillar of the Gender Results Framework.
GBA Plus data collection plan: Nothing to report for 2022-23. Same response as above.

Program name: Risk Assessment and Intervention – Federally Regulated Financial Institutions
Program goals: Not available
Target population: Specific regions or sectors of the economy: Financial and Insurance Sectors
Distribution of benefits: Not available
Specific demographic group outcomes: Not available
Key program impacts* on gender and diversity: Not available
GBA Plus data collection plan: Nothing to report for 2022-23. Same response as above.

Core responsibility: Actuarial Services to Federal Government Organizations

Program name: Actuarial Valuation and Advice
Program goals: Not available
Target population:

• Specific regions or sectors of the economy: Public Sector (Federal Departments and Agencies; Members of Parliament)
• All Canadians: General Public

Distribution of benefits: Not available
Specific demographic group outcomes:Not available
Key program impacts* on gender and diversity - Key program impact statistics: Not available
Other key program impacts: Demographic trends are considered in actuarial analyses, and the Office of the Chief Actuary performs an enabling function to other government organizations through the provision of actuarial services. It provides checks and balances on future costs of pension plans under its responsibility and performs statutory actuarial valuations of various programs, including the Canada Student Loans Program.
At a high level, the Actuarial Valuation and Advice program align with the "Economic Participation and Prosperity", "Education and Skills Development", and "Poverty Reduction, Health and Well-Being" pillars of the Gender Results Framework.
GBA Plus data collection plan: Nothing to report for 2022-23. Same response as above.

Core responsibility: Internal Services

Program name: Internal Services
Program goals: Not available
Target population: All OSFI Employees
Distribution of benefits: Not available
Specific demographic group outcomes: Not available
Key program impacts* on gender and diversity - Key program impact statistics: Not available
Other key program impacts:In 2022-23, OSFI began to implement its Diversity, Equity, and Inclusion Strategy and 3-year Action Plan, and a number of activities began that have positive implications for GBA Plus work in 2022-23.
These included:

• Use of self-identification information to support staffing activities.
• Inclusion of DEI-related corporate commitments into performance management agreements for all employees.
• Establishment of a Pay Equity Committee with the mandate to develop a pay equity plan to be submitted in September 2024.
• Development of an Accessibility Plan.
• Development of a performance measurement framework using the Centre for Global Inclusion’s “Global DEI Benchmarks” as a basis for measuring the success and progress of the DEI strategy.

GBA Plus data collection plan: In 2022-2023, OSFI did not collect data specifically for GBA Plus analysis. However, it did acquire data from the annual organizational Self-identification Campaign (December 2021) and onboarding of new employees. The self-identification campaign collects voluntary data from staff on topics such as gender, race, disability, etc. These data will assist in future integration into programs and for our employment systems review (in progress, anticipated to be completed 2023-24).