OSFI Employee Survey (ES) 2017
Executive Summary

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Prepared for:
Office of the Superintendent of Financial Institutions (OSFI)
information@osfi-bsif.gc.ca
www.osfi-bsif.gc.ca

Submission Date:
March 20, 2018

The Office of the Superintendent of Financial Institutions (OSFI) Canada is the federal regulator and supervisor of over 1,800 financial institutions, including deposit-taking institutions, insurance companies and federally regulated private pensions plans. OSFI regularly conducts a survey of its approximately 700 employees at four locations across Canada. The employee survey seeks to assess employee levels of satisfaction and to identify potential areas for improvement. Following each survey, OSFI has implemented improvements based on the feedback of employees and measured the effectiveness of those improvements in the subsequent survey. This report presents the 2017 findings and provides a discussion of these results in comparison to the 2016 OSFI employee survey.

The survey was completed online by OSFI employees between September 25th and October 27th, 2017. The questionnaire explored various themes of employee satisfaction. Survey results were explored overall, in comparison to the previous years’ results and by OSFI sector. An overall response rate of 87% was achieved. Since the survey attempted to include all employees (i.e., was conducted as a census) it is unnecessary to apply a margin of error to the survey results and the results are considered representative of the population of OSFI employees.

Summary of Findings

• Across the 58 closed ended questions in the survey that are directly comparable to results from 2016, the average score is 4.07, which is very similar to the score found in 2016 (4.03).
• The majority of comparable measures are equal to or more positive than in 2016 with only a handful of instances where mean scores are lower.
• The most positive results are in Immediate Supervisor and Corporate Focus.
• Still strong, but somewhat less so, are results in Senior Management and Work-Life Balance.
• The thematic areas Senior Management and Talent Management both saw increases in all variables compared to 2016.
• Results vary by sector/group and by years of employment with OSFI.
  • Employees in Common Supervisory Services, Regulation Sector and Corporate Services Sector tend to provide higher than average scores while those in Risk Support Sector, Insurance Supervision Sector and Deposit-taking Supervision Sector tend to provide lower scores.
  • The newest employees (with 2 years or less at OSFI) are consistently more positive.
• Driver analysis shows that senior leadership, training/career development, immediate supervisor and work-life balance are the main drivers of overall employee engagement.

The results of this research will be used to help identify areas of improvement for OSFI going forward. The total expenditure for the POR project was $49,271.57 (including HST).