About CDIC

Our departments and divisions

CDIC consists of a staff of more than 140 professionals from a variety of disciplines whose work supports the corporation’s vision to earn the trust of Canadians as a global leader in deposit insurance and resolution. To achieve this, CDIC is organized into the following divisions:

Corporate Risk, Strategy and Insurance Division

This division incorporates the following key functions:

  • Enterprise Risk Management (ERM): responsible for CDIC’s enterprise risk management framework including the development of appropriate risk tolerances, indicators and related risk policies.
  • Centre of Excellence for Crisis Simulations: ensures CDIC takes a dedicated, systemic and comprehensive approach to managing crisis response capabilities that are aligned to the corporation’s enterprise risk framework.
  • Corporate Strategy: coordinates the strategic management and reporting processes of the Corporation.
  • Global Affairs: oversees CDIC’s contribution to the development of international standards on deposit insurance and bank resolution, and building relationships with other domestic and international deposit insurers and compensation schemes.
  • Policy and Insurance: contributes to policy development and administers compliance with sections of the CDIC Act and its by-laws.
  • Emerging Risks: provides analysis on the potential impact on our organization and our members of emerging trends and issues.

Finance, Technology and Depositor Solutions Division

The Vice-President of this division is also CDIC’s Chief Financial Officer and is responsible for overseeing the following departments / functions:

  • Finance: responsible for the Corporation’s finance and accounting activities, and the production of CDIC‘s quarterly financial reports and year-end financial statements.
  • Information Systems: responsible for information system operations and development, including technical support, IT security and data centre operations.
  • Treasury and Investment Management: oversees the investment of funds and borrowing.
  • Depositor Solutions: ensures timely payout of insured deposits.

Member Risk and Resolution Division

This division incorporates the following key functions:

  • Risk Assessment: monitors the risk posed by CDIC members and implements intervention approaches to minimize the corporation’s exposure to loss.
  • Resolution Planning: guides, interacts and directs domestic systemically important banks (D-SIBs) and other member institutions in preparing and developing credible resolution plans.
  • Preparedness: ensures CDIC has effective strategies to intervene effectively and is operationally ready to resolve any of its member institutions.

Internal Audit Division

CDIC’s Internal Audit division provides to the Audit Committee and Management independent and objective assessments of processes, functions, and other activities carried out by the Corporation to achieve CDIC‘s objectives.

Independence of the internal audit function is established through the reporting relationship with the Audit Committee and by adherence to professional standards of the Institute of Internal Auditors.

Corporate Affairs Division

The Corporate Affairs Division comprises four main functions:

  • Communications and Public Affairs Department: responsible for external communications, public relations and linguistic services. It manages a multi-year public awareness program about deposit insurance, CDIC’s website and a toll-free information line.
  • Human Resources: manages and administers all aspects of CDIC’s people processes, including recruitment, succession planning, training and development, employee relations and compensation.
  • General Counsel and Legal Services Department: provides legal advice and support to the Corporation. This includes legal advice to support CDIC’s mandate-related functions, as well as CDIC’s operations.
  • Corporate Secretariat: supports the Board of Directors in carrying out its roles and responsibilities and aids the Chairperson in ensuring the Board is organized properly, functions effectively and meets its obligations and responsibilities.

The offices of the General Counsel and the Corporate Secretary are held by the Vice-President, Corporate Affairs, General Counsel and Corporate Secretary.

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