OSFI – Proposed Operational Risk Capital Data Management Expectations

June 18, 2021 – OSFI issued two consultations on the management of operational risk capital data. For institutions required or applying, to use Basel III standardized approach for operational risk (SA) capital to ensure effective management of current, and historical data. First proposal related to data maintenance expectations for firms using a standardized approach for operational risk capital data (DME); the second is a proposed assessment tool (AT).

Data Maintenance Expectations (DME)
Outline of data management principles OSFI expects institutions using SA to adhere to. Includes Basel principles for effective risk data aggregation and risk reporting (RDARR).

Assessment Tool (AT)
AT summarizes OSFI expectations based on Chapter 3 of the draft capital adequacy requirements (CAR) guideline on operational risk, RDARR principles, and the DME.

Consultation
Comments on the proposed DME and AT must be submitted by July 30, 2021.

For more information, visit www.osfi-bsif.gc.ca.

Discover More Regulatory Insights

Visit the AxiomSL resource center for recent Regulatory Changes for financial institutions, InsideView Blog, and Thought Leadership.



We use cookies in order to give you the best possible experience on our website. By continuing to use this site, you agree to our use of cookies.
Accept