Core responsibility descriptions

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Core responsibility: Internal Services

Internal Services are those groups of related activities and resources that the Federal Government considers to be services in support of programs and/or required to meet corporate obligations of an organization. Internal Services refer to the activities and resources of ten distinct services that support program delivery in the organization, regardless of the Internal Services delivery model in a department. These services are: Acquisition Management Services, Communications Services, Financial Management Services, Human Resources Management Services, Information Management Services, Information Technology Services, Legal Services, Materiel Management Services, Management and Oversight Services, Real Property Management Services.

Department of Finance

Core responsibility 1: Economic and Fiscal Policy

Develop the federal Budget and Fall Economic Statement, as well as provide analysis and advice to the Government of Canada on economic, fiscal and social policy; federal provincial relations, including the transfer and taxation payments; the financial sector; tax policy; and international trade and finance.

Core responsibility 2: Internal Services

See introductory text.

Canada Deposit Insurance Corporation

Core responsibility 1: Canada Deposit Insurance Corporation

Canada Deposit Insurance Corporation’s mandate is to provide insurance against the loss of part or all of deposits in its member institutions and to promote and otherwise contribute to the stability of the financial system in Canada, for the benefit of those with deposits in Canada Deposit Insurance Corporation member institutions while minimizing the Corporation’s exposure to loss and to act as a resolution authority for its member institutions.

Financial Consumer Agency of Canada

Core responsibility 1: Financial Literacy

The Financial Consumer Agency of Canada is committed to strengthening the financial knowledge, skills and confidence of Canadians. The Agency provides online content, tools and programs that help educate Canadians so they can make informed financial decisions. The Agency also promotes awareness of all matters related to protecting consumers of financial products and services. Through nationwide coordination and collaboration efforts with stakeholders, including federal and provincial governments, and private and non-profit organizations, the Agency fosters consumer understanding of financial services and related issues, and encourages stakeholders to promote and deliver financial literacy initiatives.

Core responsibility 2: Supervision of federally regulated financial entities

The Financial Consumer Agency of Canada regulates Canada's federal financial institutions such as banks, trust and loan companies, federal credit unions, external complaint bodies and payment card network operators to ensure that consumers' rights are protected. The Agency focuses on ensuring Canadians are aware of their rights and responsibilities when dealing with financial institutions. As a regulator, the Agency oversees financial consumer protections grounded in legislation, regulations, voluntary codes of conduct and public commitments. It uses a risk-based supervisory model to enforce compliance with consumer protection laws. The information the Agency relies on to carry out its compliance activities includes consumer complaints reports, on-site examinations, compliance reviews, research findings on emerging marketplace trends and issues, and input from national and international regulatory counterparts.

Core responsibility 3: Internal Services

See introductory text.

Financial Transactions and Reports Analysis Centre of Canada

Core responsibility 1: Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations

The Financial Transactions and Reports Analysis Centre of Canada is responsible for ensuring compliance with Part 1 and Part 1.1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations. This legal framework establishes obligations for reporting entities to develop a compliance regime in order to identify clients, monitor business relationships, keep records and report certain types of financial transactions. The Centre undertakes enabling and enforcement actions to ensure that the reporting entities operating within Canada's financial system fulfill their Proceeds of Crime (Money Laundering) and Terrorist Financing Act obligations. These obligations provide important measures for countering patterns and behaviours observed in criminals and terrorists in order to deter them from operating within the legitimate channels of Canada's economy. The Centre also maintains a registry of money services businesses in Canada.

Core responsibility 2: Production and Dissemination of Financial Intelligence

The Financial Transactions and Reports Analysis Centre of Canada is mandated by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to produce actionable financial intelligence, including case disclosures that assist Canada's police, law enforcement, national security and other partner agencies in combatting money laundering, terrorism financing and threats to the security of Canada, while protecting the personal information entrusted to the Financial Transactions and Reports Analysis Centre of Canada. The Financial Transactions and Reports Analysis Centre of Canada also produces strategic financial intelligence for federal policy and decision-makers, reporting entities across the country, international partners and other stakeholders. The Financial Transactions and Reports Analysis Centre of Canada’s strategic intelligence provides a wide analytic perspective on the nature, scope and threat posed by money laundering and terrorism financing.

Core responsibility 3: Internal Services

See introductory text.

Office of the Auditor General

Core responsibility 1: Legislative Auditing

Our audit reports provide objective, fact-based information and expert advice on government programs and activities. With our audits, we assist Parliament in its work on the authorization and oversight of government spending and operations. Our audits are also used by territorial legislatures, boards of Crown Corporations and audit committees to help oversee the management of government activities and hold them to account for the handling of public funds. Financial audits assess if the annual financial statements of the government and Crown corporations are presented fairly, consistent with applicable accounting standards. Performance audits assess if government manages with due regard for economy, efficiency, and environmental impact and measures its effectiveness. Special examinations assess if Crown corporation systems and practices provide reasonable assurance that assets are safeguarded, resources are managed economically and efficiently, and operations are managed effectively.

Office of the Superintendent of Financial Institutions

Core responsibility 1: Financial Institution and Pension Plan Regulation and Supervision

The Office of the Superintendent of Financial Institutions advances a regulatory framework designed to control and manage risk to federally regulated financial institutions and private pension plans and evaluates system-wide or sectoral developments that may have a negative impact on their financial condition. It also supervises financial institutions and pension plans to determine whether they are in sound financial condition and meeting regulatory and supervisory requirements. The Office promptly advises financial institutions and pension plan administrators if there are material deficiencies, and takes corrective measures or requires that they be taken to expeditiously address the situation. It acts to protect the rights and interests of depositors, policyholders, financial institution creditors and pension plan beneficiaries, while having due regard for the need to allow financial institutions to compete effectively and take reasonable risks.

Core responsibility 2: Actuarial Services to Federal Government Organizations

The Office of the Chief Actuary provides a range of actuarial services, including statutory actuarial valuations required by legislation and checks and balances on the future costs of programs for the Canada Pension Plan, Old Age Security, Employment Insurance and Canada Student Loans programs, as well as pension and benefits plans covering the Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police, federally appointed judges, and Members of Parliament.

Core responsibility 3: Internal Services

See introductory text.

Royal Canadian Mint

Core responsibility 1: Royal Canadian Mint

The Royal Canadian Mint effectively supports trade and commerce by reliably producing and managing Canada’s supply of durable and secure circulation coins. The Royal Canadian Mint celebrates Canada’s history, diversity and values, with pride and purpose, through thoughtful and beautiful numismatic and commemorative circulation coins. As a commercial Crown demonstrating strong governance, the Royal Canadian Mint generates sustainable financial contributions to Canada while demonstrating good corporate social citizenship. The Royal Canadian Mint creates value for its domestic and international customers by offering uniquely relevant products and services, as well as delivering a great customer experience. The Royal Canadian Mint consistently demonstrates global minting and operational excellence, and capitalizes on market and customer opportunities when they arise through its continual focus on innovation, productivity and agility. The Royal Canadian Mint provides diverse experiences, training, tools and support to enable employees to successfully execute on strategies and business objectives. Royal Canadian Mint employees are proud, engaged and enabled to perform at their best. The Royal Canadian Mint provides a positive and inclusive work environment through its commitment to teamwork in a healthy and safe workplace.

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