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OSFI is a separate employer. In order to meet the requirements of its mandate, OSFI has elected to implement a travel policy specifically for OSFI. The OSFI policy is virtually identical to the Treasury Board Travel Directive, with the exception noted.
Comparison to the Treasury Board of Canada Special Travel Authorities as applied to OSFI’s executive group
OSFI takes a more restrictive approach than the TB Special Travel Authorities with respect to business class airfare for its Executive group of employees.
Comparison to the Treasury Board of Canada Travel Directive, Rates and Allowances as applied to all OSFI employees
OSFI Travel policy of the Office of the Superintendent of Financial Institutions
|Authority: Under section 13 of the OSFI Act, the Superintendent is authorized to exercise the powers and perform the functions of the Treasury Board that relate to human resources management within the meaning of the Financial Administration Act, including the determination of terms and conditions of employment and the responsibility for employer and employee relations.|
|Coverage: The OSFI Travel Policy applies to all employees, including casual, term and indeterminate.
Principal difference(s) in policy provisions: The TB Travel Directive allows for Business Class air travel for trips exceeding 9 hours. OSFI’s Travel Policy states that non-executives may be authorized to upgrade to Business/Executive Class air travel in accordance with the following principles:
|Principal financial implications of the differences: For 2007-2008 the estimated net cost of this difference in policy is approximately $191 thousand, based on 73 trips at an average additional cost of $2.6 thousand per trip.|
OSFI effectively monitors its travel costs through communications with all employees, directed communications on policy interpretation and guidance, direct communications with managers on travel claim issues, monthly monitoring against budget, and semi-annual detailed analyses of travel expenses.