Federally Regulated Financial Institutions: OSFI Compliance

Federally Regulated Finance Sector Industry Participants

ISO 9001:2015 Integrated Risk-Based Quality Management Systems Solutions

Registered Users Only

What does MortgageQuote's ISO 9001:2015 integrated Quality Management Systems technology do for an FRFI?

Beyond the empirical proof of benefits [available to Registered Users Only], given MortgageQuote's certification to Canada's National Standard for Quality Management, MortgageQuote's technology is certified to operate in a statutory, regulatory and process (SRP™) non-com compliant manner. In short: MortgageQuote's technology enables your FRFI to earn money, while ensuring that your Official Representative to OSFI is able to 'sleep well at night'.

Regulated Financial Institutions

$ Profit (ROI) versus Current Contingent Liabilities of Canadian Banks

After Implementation of a Quality Management System

OSFI-Compliant ISO 9001:2015 Quality Management Solutions for Canadian FRFI's

(OSFI compliant services are require a high degree of customization depending on how your FRFI is structured.)

Supervisory Framework

"Work with the system, easier than ever before because of technology". MortgageQuote's technology integrates within Regulatory Supervisory Frameworks for both Federally Regulated Financial Institutions non-Federally Regulated Financial Entities (OSFI-, OCC- and Other Regulatory bodies). Learn more.

Corporate Governance

OSFI expects Boards and Senior Management of FRFIs to be proactive, and to be aware of best practices related to corporate governance that are applicable to their institution. Where appropriate, FRFIs should adopt these best practices. Learn more.

E-13 Regulatory Compliance Management (RCM) Solutions

OSFI expects FRFIs to establish and maintain an effective enterprise-wide RCM framework. RCM controls should include oversight by individuals or oversight functions that are independent of the activities they oversee. Learn more.

B-20 & B-21 Residential Mortgage (Insurance) Underwriting Practices and Procedures

OSFI expects lenders and mortgage insurers to verify that their mortgage operations are well supported by prudent underwriting practices, and have sound risk management and internal controls that are commensurate with these operations. Learn more.

B-10 Outsourcing of Business Activities, Functions and Processes

OSFI expects the FRFI to ensure that its subsidiaries and branches follow the guideline when entering into material outsourcing arrangements. Learn more.

E-21 Operational Risk Management

OSFI expects the FRFI to implement an effective system for the management of operational risk ("3 Lines of Defence"). Learn more.

Prudent Person Approach

By law, the board of directors of a financial institution is required to establish, and the financial institution is required to adhere to, "investment and lending policies, standards and procedures that a reasonable and prudent person would apply in respect of a portfolio of investments and loans to avoid undue risk of loss and obtain a reasonable return." Learn more.

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Note: We will only respond to entities who are subject to OSFI-, OCC- or Other Regulatory (Federal and Non-Federal) oversight.