OSFI E-13 — RCM Reporting

Overview

Draft internal RCM reporting procedures and report templates (Senior Management, CCO, IA) for federally regulated financial institutions under OSFI E-13.

Getting Started

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

Example conversation

You: We need to define our RCM reporting—what goes to Senior Management and the board, and how often the CCO reports and gives an annual opinion.

Agent: I’ll draft the RCM reporting procedures using the skill reference. I’ll document reporting procedures (including aggregation of monitoring and testing results), the content and frequency of compliance reports to Senior Management, the CCO’s establishment of content/frequency for reports from operational management to the CCO, the CCO’s regular reports and at least annual opinion on adequacy and compliance, timely reporting of material non-compliance and remediation, and Internal Audit reporting of significant findings and management response. I’ll ensure the format allows clear understanding of regulatory risks and key controls.

Output excerpt

Reporting procedures — Sufficient, pertinent, verifiable information on the adequacy, adherence to, and effectiveness of RCM is communicated on a timely basis to Senior Management and other individuals with RCM responsibilities. Reporting includes aggregation of monitoring and testing results within and across business activities. Regular formal and informal meetings and communications support this flow.

Compliance reports to Senior Management — Regular reports are made in a manner and format that allow Senior Management to clearly understand regulatory risks and the adequacy of key controls. Content includes results of enterprise-wide compliance oversight, material RCM framework weaknesses, material non-compliance, material regulatory risk exposures and remedial action plans, significant legislative and regulatory developments, and emerging trends. The CCO reports all material information from independent monitoring and testing and, at least annually, opines on the adequacy and effectiveness of day-to-day controls and on whether the FRFI is in compliance with applicable regulatory requirements enterprise-wide.

Extension and validation

validate_rcm_reporting — Validates the RCM reporting document for report content and frequency (Senior Management, board, CCO opinion at least annually, IA/independent review). Flags missing content or placeholders. Run after drafting or updating reporting procedures or templates.