SOURCE: Ombudsman for Banking Services and Investments (OBSI)

Ombudsman for Banking Services and Investments (OBSI)

January 20, 2017 07:00 ET

OBSI Launches Five-Year Strategic Plan to Strengthen Services to Canadians

TORONTO, ON--(Marketwired - January 20, 2017) - Canada's Ombudsman for Banking Services and Investments (OBSI) has published its strategic plan, which outlines the key strategic directions that the organization will pursue over the next three to five years.

"Our strategic plan details clearly our key priorities. By successfully executing the plan, we hope to strengthen our public service contribution, provide thought leadership and add value to the Canadian financial services sector," said OBSI, Ombudsman and CEO, Sarah Bradley. "The plan is reflective of OBSI's vision, mission and values and is a response to the opportunities and challenges that are shaping our role within the sector."

To achieve its objective of building its value and reputation as Canada's trusted, independent financial services Ombudsman, OBSI will focus on four core strategic directions:

  • Deliver a high value service and be the dispute resolution provider of choice: OBSI will continue to deliver quality and accessible service to consumers and participating firms by leveraging its expertise and knowledge to increase insights to stakeholders and expand service offerings.
  • Build enduring relationships through stakeholder awareness of the value of the OBSI service: OBSI will strengthen regulator, firm and consumer trust, value and brand awareness through clear demonstrations of value and service effectiveness.
  • Drive continuous improvement and organizational resiliency: OBSI will maintain and increase service excellence by standardizing and improving processes and service times.
  • Invest in OBSI's people: OBSI will focus on staff and management collaboration and dialogue, succession planning and professional development, and continue to enhance internal knowledge management capabilities. These efforts will help to strengthen employee engagement in the workplace and support improved service levels.

"Our plan starts with our vision, which is: Inspiring confidence in the Canadian financial services sector. We expect to do that not only by resolving disputes effectively, but by helping to reduce them as well," Bradley said. "We have a greater role to play by sharing information about our experience, the trends we see, and emerging issues with firms, consumers and regulators."

The Ombudsman for Banking Services and Investments (OBSI) is a national, independent and not-for-profit organization that helps resolve and reduce disputes between consumers and financial services firms. OBSI is responsive to inquiries, conducts fair and accessible investigations of unresolved disputes, and shares its knowledge and expertise with the stakeholders and the public. If a consumer has a complaint against an OBSI participating bank or investment firm that they are not able to resolve with the bank or firm, OBSI will investigate at no cost to the consumer. Where a complaint has merit, OBSI may recommend compensation up to a maximum of $350,000.

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Contact Information

  • For more information, contact:
    Mark Wright
    Director, Communications and Stakeholder Relations