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2010-11
Report on Plans and Priorities
Office of the Superintendent of Financial Institutions
Supplementary Information (Tables)
Table of Contents
- Green Procurement
- Upcoming Internal Audits and Evaluations over the next three fiscal years
- Sources of Respendable and Non-respendable Revenue
- Summary of Capital Spending by Program Activity
Green Procurement
Part A: Green Procurement Capacity Building
| Activity | 2008-09 Level as % |
2010-11 Level as % |
Description/Comments |
|---|---|---|---|
| Training for Procurement and Materiel Management Staff | Nil | 50% | The training of the Procurement and Materiel Management Staff will be achieved by completing the online Canada School of Public Service course - C215 Green Procurement. |
| Training for Acquisition Cardholders | Nil | 10% | The training of Acquisition Cardholders will be achieved by in-house awareness sessions, using key information from the online Canada School of Public Service course -C215 Green Procurement. |
| Performance Evaluations | Nil | 50% | Environmental considerations will be included in the performance evaluations of the Manager of Procurement and Contracting and the Manager of Administrative Services. |
| Procurement Processes and Controls | Nil | NA | OSFI's procurement needs are largely met by government-wide commodity management processes and vehicles established by Public Works and Government Services Canada (PWGSC). Environmental benefits achieved are the same as those identified by PWGSC in the establishment of these processes and vehicles. |
Part B: Use of Green Consolidated Procurement Instruments
| Good/Sevice | 2008-09 Level |
2010-11 Target as % |
Description/Comments | |
|---|---|---|---|---|
| $ | % | |||
| Paper | N/A | N/A | 75% | OSFI did not track this information in 2008/9 but targets are established for 2010/2011 and tracking of data should allow for reporting for that fiscal year. |
| Printers | N/A | N/A | 50% | OSFI did not track this information in 2008/9 but targets are established for 2010/2011 and tracking of data should allow for reporting for that fiscal year. |
Upcoming Internal Audits
| 1. Name of Internal Audit | 2. Internal Audit Type (subject area) | 3. Status | 4. Expected Completion Date |
|---|---|---|---|
| Supervision Sector: Supervision Operational Planning | Operational Planning | In-Progress | 2009-10 |
| Corporate Services: Finance | Revenue Business Cycle | In-Progress | 2010-11 |
| Corporate Services: Finance | Human Resources Payrol | In-Progress | 2010-11 |
| Corporate Services: Information Management & Information Technology | Security Access | In-Progress | 2009-10 |
| Corporate Services: Human Resources | Performance Management | 2009-10 Planned | 2010-11 |
| Regulation Sector: Private Pensions Plans Division | Approvals | In-Progress | 2010-11 |
| Superintendent's Office: Risk Management | Risk Management | 2010-11 Planned | 2010-11 |
| Supervision Sector: Life Insurance Group - Conglomerates | Risk Assessment & Intervention | 2010-11 Planned | 2010-11 |
| Supervision Sector: Supervision Support Group, Credit Risk Division | Risk Assessment & Intervention | 2010-11 Planned | 2010-11 |
| Corporate Services: Finance | Contracting | 2010-11 Planned | 2010-11 |
| Regulation Sector: Actuarial | Supervision Support | 2010-11 Planned | 2010-11 |
| Supervision Sector: Deposit Taking Institutions – Conglomerates | Risk Assessment & Intervention | 2011-12 Planned | TBD |
| Corporate Services: Finance | Travel & Hospitality | 2011-12 Planned | TBD |
| Corporate Services: Human Resources | Training & Development | 2011-12 Planned | TBD |
| Corporate Services: Information Management & Information Technology | Portfolio Management | 2011-12 Planned | TBD |
| Regulation Sector: Private Pension Plans Division | Risk Assessment & Intervention | 2011-12 Planned | TBD |
| Regulation Sector: Capital | Approvals | 2011-12 Planned | TBD |
Sources of Respendable and Non-Respendable Revenue
A. Respendable Revenue
| Program Activity | Respendable revenue | Forecast Revenue 2009-10 |
Planned Revenue 2010-11 |
Planned Revenue 2011-12 |
Planned Revenue 2012-13 |
|---|---|---|---|---|---|
| Regulation and Supervision of Federally Regulated Financial Institutions | Base Assessments | 47.0 | 51.0 | 53.4 | 55.4 |
| Cost-Recovered Services | 0.2 | 0.2 | 0.2 | 0.2 | |
| User Fees and Charges | 5.7 | 3.4 | 2.9 | 2.9 | |
| Subtotal | 52.9 | 54.6 | 56.5 | 58.5 | |
| Regulation and Supervision of Federally Regulated Private Pension Plans | Pension Fees | 4.6 | 5.3 | 5.3 | 5.1 |
| International Assistance | Cost-Recovered Services | 1.7 | 1.7 | 1.7 | 1.7 |
| Actuarial Valuation and Advisory Services | Cost-Recovered Services | 3.4 | 3.3 | 3.2 | 3.4 |
| User Fees and Charges | 0.1 | 0.1 | 0.1 | 0.1 | |
| Subtotal | 3.5 | 3.4 | 3.3 | 3.5 | |
| Internal Services | Base Assessments | 37.0 | 39.1 | 51. | 42.3 |
| Pension Fees | 2.1 | 1.5 | 1.6 | 1.9 | |
| Cost-Recovered Services | 2.7 | 2.8 | 3.0 | 2.9 | |
| Subtotal | 41.8 | 43.4 | 55.6 | 46.9 | |
| Total Respendable Revenue | 104.3 | 108.3 | 122.4 | 115.8 | |
B. Non-Respendable Revenue
| Program Activity | Non-respendable revenue | Forecast Revenue 2009-10 |
Planned Revenue 2010-11 |
Planned Revenue 2011-12 |
Planned Revenue 2012-13 |
|---|---|---|---|---|---|
| Regulation and Supervision of Federally Regulated Financial Institutions | Late and Erroneous Filing Penalties | 0.5 | 0.7 | 0.7 | 0.7 |
| Total Non-respendable Revenue | 0.5 | 0.7 | 0.7 | 0.7 | |
| Total Respendable and Non-respendable Revenue | 104.8 | 109.5 | 123.1 | 116.5 | |
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 accounting . Under the modified cash basis, the overall revenue increase for 2010-2011 is 3.7%.
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. At the time of writing this Report,
OSFI was completing its business planning process for 2010-2011 to 2012-2013 and anticipate that user fees and charges might
rise from the levels presented in the above Table for all years, as a result of the current economic outlook. All else being
equal, base assessments would drop with an increase in surcharge revenue.
Summary of Capital Spending by Program Activity
| Program Activity | Forecast Spending 2009-10 |
Planned Spending 2010-11 |
Planned Spending 2011-12 |
Planned Spending 2012-13 |
|---|---|---|---|---|
| Internal Services | 3.0 | 4.7 | 14.6 | 4.8 |
| Regulation and Supervision of Federally Regulated Private Pension Plans | 0.3 | 0.9 | 0.9 | … |
| Office of the Chief Actuary | 0.1 | … | … | … |
| Total | 3.4 | 5.6 | 15.5 | 4.8 |
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 2009. 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, will begin 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 2010-2011 to 2012-2013, including 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.
Technology investments planned during fiscal year 2010-2011 relate to changes in Accounting Rules and Standards and the continuation of the Pension Systems Renewal Initiative, a project that began in 2008-2009 to enhance the enabling technology for approvals and supervisory processes within the Private Pension Plans activity. The expected implementation date is in 2011-2012.
In 2011-2012, OSFI is planning an accommodation upgrade in Toronto in conjunction with the expiry of its lease. This
will allow OSFI to utilize its space more efficiently and align its accommodation standards more closely to those established
by Public Works and Government Services Canada. The decrease in 2012-2013 is largely due to the completion of the accommodation
upgrade in the preceding year.