The OSFI Collective Agreement 2019: What You Need to Know
The Office of the Superintendent of Financial Institutions (OSFI) is a federal agency responsible for regulating and supervising financial institutions in Canada. As part of their mandate, OSFI negotiates collective agreements with their employees through the Association of Canadian Financial Officers (ACFO).
The OSFI Collective Agreement 2019 is the latest agreement negotiated between OSFI and ACFO, outlining the terms and conditions of employment for OSFI’s employees. Here are some key takeaways:
Salary Increases
Under the 2019 agreement, OSFI employees received a 1.5% salary increase effective April 1, 2019 and another 1.5% increase effective April 1, 2020. This was in line with the average salary adjustments across the federal public service.
Vacation and Leave
OSFI employees are entitled to three weeks of vacation with pay during the first year of employment, with an additional week after five years of continuous service. The agreement also outlines various types of leave, including sick leave, bereavement leave, and parental leave.
Flexible Work Arrangements
OSFI recognizes the importance of flexible work arrangements and provides employees with various options to accommodate their personal and professional needs. This includes telecommuting, flexible hours, and compressed workweeks.
Performance Management
The agreement outlines a performance management process that includes regular feedback, coaching, and development opportunities for employees. The process is designed to support and encourage employees to achieve their work objectives and personal development goals.
Job Security
The OSFI Collective Agreement 2019 includes provisions for job security, including provisions for managing layoffs and reasonable notice periods for affected employees. The agreement also outlines the process for resolving disputes, including grievances and arbitration.
In conclusion, the OSFI Collective Agreement 2019 provides a comprehensive framework for employment conditions at OSFI, including salary increases, vacation and leave, flexible work arrangements, performance management, and job security. It is designed to support OSFI’s mandate of regulating and supervising financial institutions in Canada while providing fair and reasonable employment conditions for its employees.
