OSFI Superintendent Discusses Leveraging Resilience, Enabling Competition, Improving AML
In a world where volatility has become the norm, OSFI Superintendent Peter Routledge expressed confidence in the resilience of Canada’s financial system, while emphasizing that it must strengthen its ability to navigate cyberattacks, physical climate risk, geopolitical upheaval and rapid technological disruption. He underscored that true resilience extends beyond capital buffers and regulatory compliance, requiring adaptability embedded in governance, culture, and decision making. His discussion with GRI President and CEO Sonia Baxendale touched on the importance of trust between public and private sectors, with the Superintendent saying that the interests of shareholders, creditors, and depositors are generally aligned, allowing the regulator to engage with boards with shared goals.
Peter Routledge
Superintendent of Financial Institutions, OSFI
Peter Routledge was appointed Superintendent of Financial Institutions in June 2021, for a seven-year term. He previously served as the President and Chief Executive Officer of Canada Deposit Insurance Corporation (CDIC) beginning in November 2018. While at CDIC, Peter led a successful transformation of CDIC’s culture, strategy, and technology vision. He has extensive experience in Canada’s financial sector. Prior to joining CDIC, he was a Senior Advisor at the Department of Finance where he provided advice on a range of policy issues including financial stability, housing finance, and competition in Canadian financial services.
Peter has held a variety of leadership roles in the financial services industry, both in Canada and abroad. He served as Managing Director of Research at National Bank Financial, where he led a team responsible for producing equity, fixed income, and derivatives research on Canadian financial institutions. Prior to that, Peter led the Canadian Financial Institutions Group at Moody’s Canada, with responsibilities for covering issuers in the banking, life insurance, personal and commercial insurance and reinsurance industries in Canada and the United States.