OSFI E-13 — RCM Procedures

Overview

Draft RCM procedures for identifying, risk-assessing, communicating, managing and mitigating regulatory compliance risk and day-to-day compliance under OSFI E-13.

Getting Started

Add your source materials to the project workspace, then activate the OSFI E-13 — RCM Procedures skill. The agent will guide you through the process step by step.

Example conversation

You: We need to document our RCM procedures—identifying and assessing regulatory compliance risk, keeping knowledge of requirements up to date, and day-to-day compliance by business line.

Agent: I’ll draft the RCM procedures using the skill reference. I’ll document procedures for providing current, accurate information so staff can identify, risk-assess, communicate, manage, and mitigate regulatory compliance risk and maintain knowledge of applicable requirements; day-to-day compliance procedures in operational management, tailored to business activities and integrated into operations, with a risk-based monitoring and testing component; and clear accountability. I’ll align with OSFI E-13 and ensure updates when regulatory or business changes occur.

Output excerpt

Procedures for identifying, risk-assessing, communicating, managing, and mitigating regulatory compliance risk — Reasonable procedures ensure that appropriate individuals receive current, accurate information needed to identify, assess, communicate, manage, and mitigate regulatory compliance risk and to maintain knowledge of applicable regulatory requirements. The procedures enable a risk-based approach so resources are allocated to higher-risk areas. Information is updated when regulatory requirements change and when there are changes to products, services, strategy, activities, or corporate structure.

Day-to-day compliance procedures — Operational management maintains procedures tailored to each business activity and incorporated into relevant business operations. These procedures reasonably assure day-to-day compliance with applicable regulatory requirements and include a risk-based monitoring and testing component to assure the adequacy, adherence, and effectiveness of the procedures.

Extension and validation

validate_rcm_procedures — Validates the RCM procedures document for procedure coverage (identify, risk-assess, communicate, manage, mitigate, knowledge of regulatory requirements; day-to-day compliance) and accountability. Flags missing content or placeholders. Run after drafting or updating the procedures.