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2011-12
Report on Plans and Priorities



Office of the Superintendent of Financial Institutions






Supplementary Information (Tables)






Table of Contents




Greening Government Operations (GGO)

Note:

  • RPP refers to Report on Plans and Priorities and represents planned / expected results for 2011-2012.
  • DPR refers to Departmental Performance Report and represents actual results. As this report is a new format, DPR results not yet available.

Green Building Targets

As of April 1, 2011, each department will establish at least 3 SMART green procurement targets to reduce environmental impacts.

As of April 1, 2010, The Office of the Superintendent of Financial Institutions (OSFI) will utilize green consolidated procurement instruments for at least 50% of its requirements for printers and as of April 1, 2011, the target will be increased to 75%.
Performance Measure RPP DPR
Target Status Achieved
Performance measure:  Number of printers procured from green consolidated procurement instruments relative to total number of printers procured. 100%   
Progress against measure in the given fiscal year. 100%   

Strategies / Comments

“SMART” breakdown:

  1. Specific: Achievement level targeted at 50%.
  2. Measurable: Information available from Public Works and Government Services Canada (PWGSC) Standing Offer Index and from OSFI contracting records.
  3. Achievable: Printers as required are available on PWGSC green consolidated procurement instruments.
  4. Relevant: Printers on green consolidated procurement instruments have been evaluated by PWGSC and determined to meet criteria required to be green.
  5. Time-bound: Dates established for target implementation and completion.

 

As of April 1, 2011, OSFI will meet its procurement needs for paper from green recycled sources, as offered through PWGSC procurement instruments for at least 75% of its requirements.
Performance Measure RPP DPR
Target Status Achieved
Performance measure:  Quantity of paper procured from green consolidated procurement instruments relative to total quantity of paper procured. 75%  
Progress against measure in the given fiscal year. 100%  

Strategies / Comments

“SMART” breakdown:

  1. Specific: Achievement level targeted: 75%
  2. Measurable: Information available from contracting and finance records.
  3. Achievable: Paper as required is available on PWGSC green consolidated procurement instruments.
  4. Relevant: Paper on green consolidated procurement instruments has been evaluated by PWGSC and determined to meet criteria required to be considered green.
  5. Time-bound: Date established for target implementation.

 

As of April 1, 2011, OSFI will reuse or recycle 80% of all surplus electronic and electrical equipment (EEE) in an environmentally sound and secure manner, and as of April 1, 2012, the target will be increased to 90%.
Performance Measure RPP DPR
Target Status On Track
Existence of implementation plan for the disposal of all departmentally-generated EEE. 100%   

Strategies / Comments

“SMART” breakdown:

  1. Specific: Achievement level of 80% for 2011-2012 and 95% for 2012-2013.
  2. Measurable: Information available from our Crown assets file and our administrative records.
  3. Achievable: PWGSC vehicles are in place for e-waste disposal. Computer for School, Crown Assets, “Do what you can” provincial program are other options which make this target achievable.
  4. Relevant: Targets all electronic and electrical equipment.
  5. Time-bound: Dates established for target implementation and completion.

 

As of April 1, 2011, each department will establish SMART targets for training, employee performance evaluations, and management processes and controls, as they pertain to procurement decision-making.

Training for select employees.

As of April 1, 2011, 50% of Procurement and Materiel Management employees will receive green procurement training through Canada School of Public Service (CSPS) course C215 or in-house equivalent.
Performance Measure RPP DPR
Target Status On Track
Number of procurement and materiel management employees with green procurement training relative to total number of procurement and materiel management employees. 50%  
Progress against measure in the given fiscal year. 70%  

Strategies / Comments

“SMART” breakdown:

  1. Specific: Achievement level of 50%, type of employee and type of training
  2. Measurable: Information available from CSPS and in-house.
  3. Achievable: All existing and new procurement and materiel management employees to take green procurement training.
  4. Relevant: Targets all relevant employees.
  5. Time-bound: Date established for target implementation and completion.

 

Employee performance evaluations for managers and functional heads of procurement and materiel management.

Environmental considerations will be included in the performance evaluations of the Manager of Procurement and Contracting and the Manager of Administrative Services.
Performance Measure RPP DPR
Target Status Opportunity for Improvement
Environmental considerations are included in the performance evaluations of the Manager of Procurement and Contracting and the Manager of Administrative Services 100%  
Progress against measure in the given fiscal year. 100%  

Strategies / Comments

“SMART” breakdown:

  1. Specific: Achievement level of 50%.
  2. Measurable: Information available from performance agreements and evaluations.
  3. Achievable: Performance evaluations of manager’s position to include environmental considerations.
  4. Relevant: Targets employees responsible for procurement activities.
  5. Time-bound: Date established for target implementation and completion.

 

 

Management processes and controls.

OSFI’s procurement needs are largely met by government-wide commodity management processes and vehicles established by PWGSC.  Environmental benefits achieved are the same as those identified by PWGSC in the establishment of these processes and vehicles.
Performance Measure RPP DPR
Target Status N/A
No performance measure established    
Progress against measure in the given fiscal year.    

Strategies / Comments

“SMART” breakdown:

  1. This initiative is largely an increased awareness for procurement personnel and employees with decision-making responsibilities, of options in procurement which include green procurement benefits.  Currently, our systems do not allow for tracking this aspect of procurement.  We will explore changes required and their feasibility for tracking this information.


Upcoming Internal Audits over the next three fiscal years (2011-2012 to 2013-2014)

Upcoming Internal Audits
1. Name of Internal Audit 2. Internal Audit Type 3. Status 4. Expected Completion Date
Superintendent’s Office: Risk Management Risk Management In Progress June 2011
Supervision Sector: Life Insurance Group - Conglomerates Risk Assessment & Intervention In Progress Sept 2011
Supervision Sector: Deposit Taking Institutions – Conglomerates Risk Assessment & Intervention 2011-2012 Planned TBD
Corporate Services: Finance Travel & Hospitality 2011-2012 Planned TBD
Corporate Services: Human Resources Training & Development 2011-2012 Planned TBD
Corporate Services: Information Management / Information Technology Governance 2011-2012 Planned TBD
Superintendent’s Office: Internal Audit Quality Assurance 2012-2013 Planned TBD
Supervision Sector:  Property & Casualty Group Risk Assessment and Intervention 2012-2013 Planned TBD
Supervision Sector: Supervision Support Group, Capital Markets Division Risk Assessment and Intervention 2012-2013 Planned TBD
Regulation Sector: Capital Division Rule-Making and Approvals 2012-2013 Planned TBD
Regulation Sector: Private Pension Plans Division Risk Assessment and Intervention (Supervision) 2012-2013 Planned TBD
Corporate Services: Finance Governance 2012-2013 Planned TBD
Corporate Services: Security Services Unit Governance 2012-2013 Planned TBD
Supervision Sector: Deposit-Taking Group – Non-Conglomerates Risk Assessment & Intervention 2013-2014 Planned TBD
Supervision Sector: Life-Insurance Group – Non-Conglomerates Risk Assessment & Intervention 2013-2014 Planned TBD
Supervision Sector: Deposit-Taking Group – Risk Measurement Analytics and Assessment Risk Assessment & Intervention 2013-2014 Planned TBD

The Audit Committee approves OSFI’s Annual Audit Plan two years ahead. The most recent Audit Plan and Audit Reports are available on OSFI’s website: (http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=894)



Sources of Respendable and Non-Respendable Revenue

A. Respendable Revenue

Respendable Revenue
($ millions)
Program Activity Respendable revenue Forecast
Revenue
2010–2011
Planned
Revenue
2011–2012
Planned
Revenue
2012–2013
Planned
Revenue
2013–2014
 
Regulation and Supervision of Federally Regulated Financial Institutions Base Assessments 50.9 53.1 55.1 56.7
  Cost-Recovered Services 0.2 0.1 0.1 0.1
  User Fees and Charges 5.4 4.7 3.8 3.8
Subtotal   56.5 57.8 58.9 60.5
 
Regulation and Supervision of Federally Regulated Private Pension Plans Pension Fees 4.5 5.6 4.6 4.7
International Assistance Cost-Recovered Services 0.4 0.0 0.0 0.0
Actuarial Valuation and Advisory Services Cost-Recovered Services 3.4 3.5 3.6 3.7
  User Fees and Charges 0.0 0.1 0.1 0.1
Subtotal   3.4 3.6 3.7 3.8
 
Internal Services Base Assessments 39.8 46.1 42.3 43.1
  Pension Fees 2.0 1.3 2.7 2.6
  Cost-Recovered Services 3.2 2.3 2.4 2.3
Subtotal   45.0 49.7 47.4 48.0
Total Respendable Revenue   109.8 116.7 114.6 117.0

B. Non-Respendable Revenue

Non-Respendable Revenue
($ millions)
Program Activity Non-respendable revenue Forecast
Revenue
2010-2011
Planned
Revenue
2011-2012
Planned
Revenue
2012-2013
Planned
Revenue
2013-2014
 
Regulation and Supervision of Federally Regulated Financial Institutions Late and Erroneous Filing Penalties 0.2 0.2 0.2 0.2
Total Non-respendable Revenue   0.2 0.2 0.2 0.2
Total Respendable and Non-respendable Revenue   110.0 116.9 114.8 117.2

Tables A and B identify the sources of respendable and non-respendable revenue, presented on the modified cash basis. OSFI is funded mainly through assessments on the financial institutions and private pension plans that it regulates and supervises and through a user-pay program for selected services, which are billed on the accrual basis of accounting1. Under the modified cash basis, the overall respendable revenue increase for 2011-2012 over prior year is 6.4% while overall base assessments are planned to increase by 9.4% over the same period.

1OSFI’s financial statements are prepared using Canadian Generally Accepted Accounting Principles (GAAP), are audited annual by the Office of the Auditor General and are published in OSFI’s annual report.  OSFI’s annual reports can be accessed on OSFI’s web site at the following link: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=375

The $1.1 million or 24.0% increase in Pension Fees in the Regulation and Supervision of Federally Regulated Private Pension Plans program activity in 2011-2012 over 2010-2011 is related to the costs associated with the Risk Assessment System for Pensions (RASP) project. Pensions Fees decreases and stabilizes in 2012-2013 following the implementation of RASP.

Cost-recovered services for the International Assistance program activity is nil starting in 2011-2012 due to the cessation of this program effective April 1, 2010, as explained in section “2.1.3 – Program Activity: International Assistance” of OSFI’s 2011-2012 Report on Plans and Priorities.

The growth in Base Assessments of $6.3 million or 15.8% in Internal Services program activity in 2011-2012 over 201-2011 is attributed to increased investments in information systems related to system updates and renewal of core infrastructure and selected applications.

The user fees and charges for the Regulation and Supervision of Federally Regulated Financial Institutions program activity include fees for certain legislative approvals and approvals for supervisory purposes pursuant to the Charges for Services Provided by the Office of the Superintendent of Financial Institutions Regulations 2002, and surcharges assessed to financial institutions assigned a “stage” rating pursuant to the Guide to Intervention for Federal Financial Institutions. Surcharges are charged in accordance with the Assessment of Financial Institutions Regulations, 2001.



Summary of Capital Spending by Program Activity

Summary of Capital Spending by Program Activity ($ millions)
Program Activity Forecast
Spending
2010–2011
Planned
Spending
2011–2012
Planned
Spending
2012–2013
Planned
Spending
2013–2014
Internal Services 3.5  4.5 4.6 4.6
Regulation and Supervision of Federally Regulated Private Pension Plans 0.4 1.4
Total 3.9 5.9 4.6 4.6

This table outlines OSFI’s planned capital investments by program activity and reflects OSFI’s approved Annual Reference Level Update (ARLU) estimates, which were prepared in early summer 2010.  A review and update of OSFI’s IM/IT Strategy was completed in 2009-2010. The strategy includes the implementation of new IM/IT governance and portfolio management practices to ensure that IM/IT investments are balanced between lifecycle maintenance, optimization and replacement of existing technology assets, and the strategic selection and implementation of new investments. Another key component of the IM/IT strategy, rationalization of the application portfolio, began in 2010 in order to realize efficiencies and improve the ability for OSFI’s systems to adapt to evolving business needs.  At the time of writing this Report, OSFI was completing its business planning process for 2011-2012 to 2013-2014, including a review of the budget implications of implementing the IM/IT strategy over a five-year period.  Any changes as a result will be reflected in next year’s Report on Plans and Priorities.

OSFI continues to develop cost-effective, secure and reliable information management systems that contain relevant, accurate and timely internal and external data, and to maintain a robust technology infrastructure necessary to support its supervisory and regulatory activities.

OSFI’s focus for the planning period is to advance the IT Renewal program in an aggressive but necessary pace. Similar to other government department and agencies, OSFI faces challenges with respect to aging IT systems: sustainability of systems over the long-term, and the ability of systems to adequately support changing business needs or emerging technologies.  The associated risks and mitigation strategies were identified and an IT Renewal roadmap was developed in 2009-10 to address this issue.  Consequentially, IT Renewal projects make up a large part of OSFI investment in the next 5 years.

OSFI has decreased its planned capital spending in 2011-2012 by $9.6 million over the planned spending for the same year reported in the previous year’s Report on Plans and Priorities. This is attributed to the deferral of the accommodation upgrade to its Toronto office to 2015-2016.