Canada | Financial services

The Office of the Superintendent of Financial Institutions -Canada

The Office of the Superintendent of Financial Institutions (OSFI) of Canada is responsible for supervising and regulating federally registered banks and insurers, trust and loan companies, as well as private pension plans subject to federal oversight.

OSFI compliance offerings

Learn more about the key laws, regulations, and guidelines prescribed by OSFI.

Third-Party Risk Management Guideline B-10 (April 2023)

The 2023 B-10 Third-Party Risk Management Guideline addresses OSFI’s expectations for managing risk associated with third-party arrangements. The 2023 B-10 Guideline provides specific guidance on: due diligence, subcontracting, data security and reporting, and business continuity.

Google Cloud’s contracts for financial institutions in Canada address the requirements in the 2023 B-10 Guideline. We have also created mappings for both Google Cloud and Google Workspace to help you understand how we can support you with meeting the 2023 B-10 Guideline requirements and assess us as an outsourced service provider.

Outsourcing of Business Activities, Functions and Processes Guideline B-10 (March 2009)

The 2009 B-10 Outsourcing of Business Activities, Functions and Processes Guideline addresses OSFI’s expectations on regulated entities that outsource business activities to service providers, in particular the practices, procedures and standards that should be applied to the outsourcing arrangement. The 2009 B-10 Guideline provides specific guidance for regulated entities on: due diligence, contractual terms, data location, business continuity, outsourcing in foreign jurisdictions, monitoring and oversight. The 2009 B-10 Guideline applies until the 2023 B-10 Guideline takes effect.

Google Cloud’s contracts for financial institutions in Canada address the requirements in the 2009 B-10 Guideline. We have also created mappings to the guidelines for both Google Cloud and Google Workspace to assist you with understanding how we can support you with meeting the requirements and assess us as an outsourced service provider. Google Cloud is committed to addressing these requirements regardless of how financial institutions choose to use our services.