Common Supervisory Services Training

Request for Information for The Office of the Superintendent of Financial Institutions for Common Supervisory Services Training Date Issued: May 5, 2021 Response Period Closes: May 27, 2021 File Reference Number: 20210097 Address Inquiries to: Aleksandra Green Senior Contracting Officer Office of the Superintendent of Financial Institutions E-mail: contracting@osfi-bsif.gc.ca Return Responses to: Aleksandra Green Senior Contracting Officer Office of the Superintendent of Financial Institutions E-mail: contracting@osfi-bsif.gc.ca REQUEST FOR INFORMATION TABLE OF CONTENTS

SECTION I – Introduction and Process for Responding to the Request for Information SECTION II - Scope of Potential Procurement and General Training Program Project Information SECTION III – Training Requirement Outline SECTION IV – Questions to Industry

SECTION I INTRODUCTION AND PROCESS FOR RESPONDING TO THE REQUEST FOR INFORMATION Requirement The Common Supervisory Services Training group from the Office of the Superintendent of Financial Institutions (OSFI) is seeking technical training opportunities on a variety of topics related to the supervision of Federally Regulated Financial Institutions (FRFIs). The technical training offered will meet a wide range of training needs for supervisors from the three Supervision Sectors: Deposit-Taking Supervision Sector (DTSS), Insurance Supervision Sector (ISS), and Risk Support Sector (RSS) Background OSFI would like to establish contractual arrangements with one or more Training Services Vendors (TSVs) to provide off-the-shelf or customized off-the-shelf (OTS) corporate training services on an as and when requested basis. OSFI is seeking the services of training resource(s) to deliver sessions of up to 10 courses per fiscal year in both Official Languages (English and French) on one or more key topics related to the supervision of FRFIs. A course may have multiple sessions in at least one of the Official Languages. OSFI requires training services that meet the following objectives:

High Quality Relevancy Timeliness Flexibility

OSFI is the primary regulator of federally regulated financial institutions and federally administered pension plans. OSFI's mission is to protect the rights and interests of depositors, policyholders, pension plan members and creditors of financial institutions, and to advance and administer a regulatory framework that contributes to public confidence in a competitive financial system. OSFI supervises and regulates all banks, and all federally incorporated or registered trust and loan companies, insurance companies, cooperative credit associations, fraternal benefit societies and pension plans. Detailed information about OSFI, including our mission and objectives, history, organization and how we regulate can be found at OSFI’s website – www.osfi-bsif.gc.ca. Nature of the Request for Information This is not a bid solicitation. This Request for Information (RFI) will not result in the award of any contract. Potential suppliers of any goods or services described in this document should not earmark stock or facilities, not allocate resources, as a result of any information contained herein. This RFI will not result in the creation of any source list; therefore, whether or not any potential supplier responds to this request will not preclude that supplier from participating in any procurement related to this initiative. Also, the procurement of goods or services described in this document will not necessarily follow this RFI. This RFI is simply intended to solicit feedback from Industry with respect to the matters described in this document. Canada will not be bound by anything stated herein. Canada reserves the right to change, at any time, any or all parts of the Bid Solicitation as it deems necessary. Submission of Responses Time and Place for Submission of Responses. Interested respondents should submit responses electronically (via email) to the OSFI Contracting Authority identified below. Responses must be received by the time and date indicated on page 1 of this document. Responsibility for Timely Delivery. Each respondent is solely responsible for ensuring the response is delivered on time to the correct location. Responses should be submitted electronically as indicated. Identification of Response. Each respondent should ensure that its name and return address, the reference number and the closing date are clearly identified in the response. Return of Response. Responses to this RFI will not be returned.

Content of Responses. Respondents should respond to the questions contained in Section III using the same numbering format. Respondents are reminded that this is an RFI and not an RFP and, in that regard, respondents are requested to provide their comments, concerns and, where applicable, alternative recommendations regarding how the requirements or objectives described in this document could be satisfied. Any marketing or promotional information submitted as part of the responses will not be reviewed. Responses will not be used for competitive or comparative evaluation purposes however, for ease of use and in order that the greatest value be gained from responses, OSFI requests that respondents follow the structure outlined below.

Response Costs OSFI will not reimburse any respondents for expenses incurred in responding to this RFI. Treatment of Responses Use of Responses. Responses will not be formally evaluated. However, the responses received may be used to assist OSFI in the development or modification of the training project business case and development of the procurement strategies and RFP requirements. OSFI will review all responses received by the deadline. OSFI may at its discretion, review responses received after the deadline. Review Team. A review team composed of representatives from OSFI will review the responses. OSFI reserves the right to hire any independent consultant, or use any Government resources that it deems necessary to review any response. Not all members of the review team will necessarily review all responses. Confidentiality. Respondents should mark any portions of their response that they consider proprietary or confidential. OSFI will treat those portions of the response as confidential to the extent permitted by the Access to Information Act (ATIP). Follow-up Activity. OSFI may, at its discretion, contact any representative to follow-up with additional questions or for clarification of any aspect of a response. OSFI may at its discretion, request a closed meeting with respondents to further discuss their RFI response and recommendations. One-on-one meetings with the respondents are intended in order to obtain clarifications on the information provided. Enquiries Because this is not a bid solicitation, OSFI will not necessarily respond to enquiries in writing by circulating answers to all potential respondents. During the RFI process, OSFI will address only questions pertaining to the research process. Requests for additional information regarding the potential project (beyond that contained in this document) cannot be accommodated. Respondents with questions regarding this RFI may direct their enquiries to the OSFI Contracting Authority as follows: Aleksandra Green Senior Contracting Officer 255 Albert Street, 12th Floor Ottawa, ON K1A 0H2 E-mail | Courriel: contracting@osfi-bsif.gc.ca SECTION II SCOPE OF POTENTIAL PROCUREMENT AND GENERAL PROJECT INFORMATION Through potential Request for Proposal (RFP) process(es), OSFI would be seeking technical training services for supervisors in our three Supervision Sectors. The topics of these courses would fall into two major categories:

Banking Category Work Stream Insurance Category Work Stream

OSFI requires the TSVs to customize their OTS course offerings as required to ensure that the courses reflect OSFI requirements, which must include, but are not limited to:

Canadian content (e.g. relevant information and examples from the Canadian financial industry); and Supervisory and regulatory content (e.g. relevant information and examples for banking and insurance supervisors and regulators).

Format of Deliverables The deliverables for each course would include, but are not limited to:

Course Agenda – documents to be provided in either Word, Powerpoint or PDF format. The contents must be clearly presented, and allow OSFI employees the ability to highlight and copy text as needed. Course Materials – documents to be provided in either Word, Powerpoint or PDF format. The contents must be clearly presented, and allow OSFI employees the ability to highlight and copy text as needed. All other training materials and logistics, If classroom based: acceptable location, presentation/workshop tools, desks, chairs, computers, mics, presentation handouts, translation etc.) necessary to deliver each training element. If delivery is done virtually, the technology must be compatible with OSFI systems (Microsoft Teams, Webex) See below for further details on exceptions to the TSV providing the training location.  An upated course syllabus’ from the TSV to be provided annually to OSFI.Training Design & Delivery

The TSV would need to obtain OSFI Project Authority (OSFI CSS) approval for each proposed training course session agenda, outline, and topics to be covered. The TSV would then deliver training sessions on dates, timing & approved format (classroom or virtually) by OSFI. The TSV must deliver training sessions in the Official Language approved by OSFI and specified in the TSV’s Syllabus. For each course design and delivery, the TSV would ensure that the course designer(s), instructor(s) and/or facilitator(s), as applicable, meet the TSV’s internal quality standards. The TSV would ensure training design and materials that accommodate all learning styles and meet adult learning principles to promote greater learner interactivity to: Optimize participant skill development; Achieve desired learner outcomes; and Include relevant scenarios and case studies

Deliverables on the same topic made in both Official Languages by the same TSV within a six-month period should be of comparable quality and scope. If the TSV is unable to provide their training material in French, OSFI would reserve the right to have the material translated and delivered to OSFI staff by a 3rd Party.

Location of Work The TSVs are expected to deliver training services virtually or at locations to be specified by the TSV. The training services will be requested primarily in Toronto (English), and, where needed and available, in Vancouver (English) and Montreal (French). For classroom training, the TSVs should provide the local training venue (Toronto, Vancouver, and Montreal) within 800 metres walking distance of the OSFI office in the requested city of delivery (as measured by Google Maps). Should the Vendor not be able to secure a location suitable for the training, OSFI may be able provide a location for the training. Capacity will be up to 30-50 OSFI staff for Toronto (English) sessions, up to 20 OSFI staff for the Vancouver (English) sessions, and up to 25 OSFI staff for the Montreal (French) sessions. The minimum number of attendees will vary based on location and subject matter. Language of Work All communications with the Project Authority would be in English. Deliverables specific to a training event would need to be in same Official Language as the course delivery.  Client Support OSFI would be responsible for registering participants for the sessions and would provide updated expected number of attendees 1 week in advance of the delivery, with an additional confirmation of any changes to the number 1-2 days in advance of each delivery. Schedule The courses should take place over a 0.5 to 3-day (“day” defined as 7.5 hours with half hour lunch break) period during the length of the contract. The TSV would work with OSFI to determine appropriate dates, times, and location for the delivery of the courses. The TSV would need to be able to deliver 80% of the requested courses within two months of finalizing the course agenda. Method of Acceptance The course descriptions, agenda, design, method and timing of delivery would be subject to review and approval by the Project Authority. The Project Authority would assess and accept the quality of the deliverables upon the completion of the courses. Contract Period OSFI requires a multi-year contract, including an initial and option period(s) SECTION III Training Requirement Outline The following list of courses reflects various topics for OSFI’s potential training requirements: Banking Category Work Stream: Bank Analysis Financial Statement Analysis Credit Risk

Commercial and Corporate Credit Retail Credit Credit Cards Counterparty Credit Risk

Capital Markets

Derivative products and risks Fixed Income Securities Structural Interest Rate Risk Liquidity Risk Fundamental Review of the Trading Book

Risk Management

Enterprise Risk Management Stress Testing Regulatory Capital Management Asset Liability Management

Operational and Technical Risk

Operational Risk Management Cyber Risk FinTech

Capital Planning and Adequacy Insurance Category Work Stream: Insurance Company Financial Statement Analysis Insurance Risk (Life and Property and Casualty)

Individual and Group Life Insurance Individual and Group Annuities Seg Funds/ Variable Annuities Personal and Commercial Property Insurance Personal and Commercial Auto Reinsurance

Capital Planning and Adequacy SECTION IV QUESTIONS TO INDUSTRY Respondents are requested to address, but are not limited to, the following questions: Table 1 – Response to Questions and Requested Information QUESTIONS RESPONSE Does your organization offer courses for all of the course topics listed in Section III? If not, which topics are you not able to offer? 2. Are you able to customize or tailor the training materials to the needs of OSFI? 3. Do your instructors have industry experience? 4.What is your organization’s training style? Do your training materials include case studies or real life applications of concepts? 5. How would you recommend that OSFI split/bundle the course topics listed in Section III to make it possible to tender a multi-year contract? 6.Does your organization offer some or all courses in both official languages? If not, do you have concerns with OSFI translating the course material? b. How would you recommend OSFI achieve its obligation to offer the courses in both official langages 7. Does your organization offer courses in a virtual format? If so,

What platforms/virtual training delivery methods do you offer/use/support? Does the duration or schedule differ from in person offerings of the same course? Is there is price difference between virtual and in person offerings?

8. Does your organization have a cap in the number of participants for each course delivery? If so, is the cap the same in a virtual delivery format? 9. How much notice does your organization need to schedule training delivery 10. Would your organization be interested in bidding on the potential RFP(s)? Please explain. 11. What would make the potential RFP(s) more interesting for your organization to bid on? 12. Is there anything that would prevent your organization from bidding on the potential RFP(s)? 13. Please provide your availability during the period of June 3, 2021, to June 17, 2021, for a one on one consultation. Also state if you prefer meeting in the morning or in the afternoon.