OSFI Self Assessments

What is OSFI Self Assessments ?

The Office of the Superintendent of Financial Institutions requires regulated financial institutions to perform regular self assessments of cybersecurity, operational controls, and governance practices. In TPRM, vendors supporting Canadian financial institutions may be required to demonstrate controls that align with OSFI guidelines.

FAQs

Who must follow OSFI self assessments?

Canadian financial institutions and their supporting vendors.

Does OSFI cover cyber expectations?

Yes, cyber resilience is a key area.

Do vendors undergo OSFI reviews?

Indirectly through due diligence requirements.