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A financial regulator explores perceptions of its performance in discharging its mandate

Challenge:  Since 2004, The Strategic Counsel has been undertaking research on behalf of one of Canada’s financial regulators.  The purpose of the research has been to obtain perspectives concerning the discharge of key elements of the regulator’s mandate, and to establish what risks the financial services industry faces, and the regulator should focus on, in the coming years.

Solution:  Two methodologies have been used to explore stakeholder opinions.  One methodology has been to conduct one-on-one interviews among senior financial institution representatives (e.g., CEOs, CFOs, Chief Risk Officers, External Actuaries, Lawyers).  The other methodology has been an online survey among CEOs of major financial institutions.

Results:  The consultations have been used by the regulator in its strategic planning process to identify areas where it can more effectively communicate with its stakeholders, and to improve service processes where possible and appropriate.