Our Service Standards

ISO Standard

OBSI's Operational Commitment

1. Commitment

The organization should be actively committed to defining and implementing a dispute resolution process.

We are committed to provide fair, effective and accessible dispute resolution services to consumers and financial services firms. This commitment is reflected in our strategic plans, annual operating plans and Terms of Reference.

Our policies and procedures are developed, reviewed and updated based on these plans and to reflect current best practices of financial ombudsmanship.

2. Responsiveness

The organization should address the needs and expectations of customers with respect to dispute resolution.

We are committed to understanding and addressing the needs and expectations of financial services consumers that reach out to us for assistance.

We publish information about our procedures, case studies and bulletins on our website and we distribute information on what to expect from our process to consumers during case intake.

We are responsive to consumer questions throughout our process. 

3. Information Integrity

The organization should ensure that information about its dispute resolution is accurate and not misleading, and the data collected are relevant, correct, complete, meaningful and useful.

Published information about OBSI’s dispute resolution process is current and written in plain language.

We collect comprehensive data about all inquiries and cases. Our data is continuously reviewed to ensure its accuracy and relevance to our operations and stakeholders.

Our Privacy Policy outlines our data collection purposes and commitment to accuracy. Our privacy statement is published on our website. 

4. Accountability

The organization should establish and maintain accountability for, and reporting on, the decisions and actions taken with respect to dispute resolution.

We are accountable to the Canadian Securities Administrators under a Memorandum of Understanding and to the Financial Consumer Agency of Canada under the Bank Act and regulations.

We are transparent and share information with consumers, the public and other stakeholders through multiple channels including a detailed annual report.

We undertake public consultations to ensure that significant changes to our policies and procedures are made with input from all stakeholders.

We undertake independent evaluations of our operations and practices every five years and publish the findings and our response plans.

We survey all consumers and firms that use our service and publish the results.

We publish case data, including case summaries and insights, on our website as well as detailed reports of all firm refusals. 

5. Consent to participate

Participation of the complainants in dispute resolution offered by the organization should be voluntary. Consent to participate should be based on full knowledge and understanding of the process and possible outcomes. When the customer is an individual purchasing or using products and services for personal or household purposes, consent to participate should not be a required condition for receiving them.

Participation in OBSI’s services is entirely voluntary for consumers. Consumers are not obligated to bring their complaint to us, and they can withdraw from our process at any time. Choosing to use OBSI’s service does not affect a consumer’s legal rights.

We train our case intake staff to clearly communicate about our processes and we share information about possible outcomes early on.

We inform consumers about what to expect from our process and provide the opportunity for questions or other assistance as needed.

As part of the case opening process, all consumers sign a consent letter that outlines key terms and the consumer’s rights and responsibilities in relation to their complaint.

We make OBSI’s Terms of Reference easily accessible on our website. 

6. Accessibility

A dispute-resolution process should be easy to find and use.

We maintain a website that is compliant with the Accessibility for Ontarians with Disabilities Act (AODA) standards and regularly update the website to ensure search engine optimization.

We work with industry participants and other stakeholders to encourage them to include links to OBSI from their sites and to include information about OBSI in their publications and complaints correspondence.

We can be contacted by toll-free telephone, toll free TTY, toll free fax, mail, e-mail, through our website, and through electronic or other links from other organizations. Consumers can submit complaints through any of these channels or our online complaint form.

Our services are offered in both official languages and we can receive and respond to inquiries in many languages through the use of automated translation services.

Our services are provided free of charge to consumers.

Our services are non-legalistic and participation does not require legal representation.  

7. Suitability

The type of dispute-resolution method offered to parties to a dispute and the potential remedies available to a complainant should be suitable to the nature of the dispute.

We assess files, use methods and make recommendations that are proportionate to the issues and to the circumstances in each case.

When appropriate in the circumstances, OBSI’s recommendations are intended to place the consumer in the position that they would have been had the error or wrongdoing complained of not taken place. We also make occasional compensation recommendations for extraordinary distress and inconvenience.

We resolve complaints using an informal non-legalistic approach that takes into account the legal rights of the consumer and the firm, as well as general principles of good financial services and business practice, law, regulatory policies and guidance, professional body standards and any relevant code of practice or conduct that is applicable to the case.  

8. Fairness

The organization should engage in dispute resolution with the intent of fairly and honestly resolving the dispute with the complainant. The organization should select a provider whose dispute-resolution personnel and dispute resolvers engaged in dispute resolution are impartial and objective, so that processes, recommendations and determinative decisions are fair to both parties and are recognized as being made independently.

Fairness is the fundamental principle on which our decisions are based. We are impartial, free of bias and independent of industry, consumer organizations and government.

Some of our internal processes that assure the impartiality of our recommendations include:

• We have adopted comprehensive conflict of interest policies and code of conduct for all investigative personnel, and these are formally acknowledged by all personnel annually.

• We assign cases only to investigative personnel who are free from any real or potential conflicts of interest.

• In accordance with our Terms of Reference, our recommendations are based on an informal non-legalistic approach that takes into account the legal rights of the consumer and the firm, as well as general principles of good financial services and business practice, law, regulatory policies and guidance, professional body standards and any relevant code of practice or conduct that is applicable to the case. 

• Case outcomes are subject to manager oversight and/or peer review to ensure that all decisions meet our investigation standards.

• Reconsideration processes and internal compliance audits provide additional assurance of unbiased conclusions and impartial consideration of all relevant documentation, industry standards and practices, the circumstances of the parties and all the relevant facts of a dispute.

• Our procedures provide all parties with full, fair and equivalent opportunities to participate and share their evidence and arguments.

• Compensation of OBSI staff is not affected by the nature of particular settlements or the outcome of any investigation.

• All OBSI funding policies, procedures and decisions are managed and determined with no investigative staff involvement. OBSI’s budget and fees are approved by our independent Board of Directors.

• OBSI employs the services of independent technical experts where appropriate and necessary for the fair resolution of the dispute.  

• All participating firms are required to cooperate fully in OBSI investigations in accordance with our Terms of Reference and applicable regulatory frameworks.

• The scope of OBSI’s mandate is clearly set out in our Terms of Reference and consumer consent letter and is clearly communicated to all parties.

• OBSI publishes extensive approach documents, case studies and case summaries on its website to help parties understand the criteria used for recommendations.

• OBSI ensures all communications are written in plain language and that all recommendations and decisions include clear and sufficient reasons. When a settlement is reached, it is confirmed to both parties in writing.

• We regularly review our internal procedures to ensure rules and practices are in place to guarantee independence in carrying out investigations and recommendations.

• OBSI’s Board of Directors includes a majority of community directors who are not affiliated with industry and is led by an independent Chair. In accordance with OBSI’s Terms of Reference, OBSI’s Board is not involved in case decision-making or appeal of decisions.

• We follow the principles set out in our Fairness Statement.

9. Competence

Organization personnel, providers and dispute resolvers should have the personal attributes, skills, training, education and experience necessary to fulfil their responsibilities related to dispute resolution.

OBSI staff are recruited from professional backgrounds that ensure they have the appropriate aptitude, skills, knowledge and training to effectively conduct investigations of financial services complaints in the sectors we serve.

OBSI supports continuing professional development for all staff, employing both internal and external resources. We have internal compliance reviews and quality control processes to ensure that all OBSI investigative staff are demonstrating the skills and competencies necessary for the effective resolution of consumer complaints.

In accordance with our Terms of Reference and relevant regulation, OBSI participates in comprehensive, independent expert external reviews of our work at regular intervals. These reviews include specific analysis of our training programs and staff competency. 

10. Timeliness

Dispute resolution should be delivered as expeditiously as feasible given the nature of the dispute and of the process used.

OBSI has detailed standards and procedures in place to ensure that all cases are dealt with efficiently and effectively.

Our timeliness standards include:

• Our case intake team responds to inquiries within one to two business days.

• If a complaint is assessed as being outside of our Terms of Reference, written notice is sent to the consumer within 30 days of receiving all information relevant to assessing the complaint.

• Upon receipt of all information relevant to investigating a case, cases are assigned to an investigator within 10 business days.

• Most banking-related cases are completed in less than 60 days, almost all in less than 90 days, and all in under 120 days.

• Most investment-related cases are completed in less than 90 days, almost all in less than 120 days, and all in under 365 days.

Some cases may take longer if they are complex or there are delays relating to availability or participation by the firm or consumer.

Our managers and senior management team monitor and review our case management system records continuously to assess the status of all complaints and compliance with our timeliness standards.

Detailed reporting of our timeliness performance is provided to our Board of Directors on a quarterly basis and reported publicly in our annual report. 

11. Confidentiality

Personally identifiable information should be kept confidential and protected, unless disclosure is required by law or consent for disclosure is obtained from the person concerned. Similarly, trade secrets should be kept confidential and protected, unless disclosure is required by law or consent for disclosure is obtained from the party that has the trade secret.

We are committed to the privacy principles which are embodied in federal and provincial privacy legislation. Our Terms of Reference, our consumer consent letter and our privacy policy establish our framework for the collection, use and disclosure of all information we gather in the course of our work. This may include personally identifiable information from consumers and proprietary information from firms. We use and disclose such information only with the consent of the disclosing party and only for the purposes stated in our privacy policy unless disclosure is mandated by law or a regulator.

OBSI’s investigation process is confidential. All parties to our investigations agree that all information they receive as part of our process will remain confidential for all purposes.

In keeping with our privacy policy, we safeguard all confidential information and retain it only for as long as required.

Our Chief Privacy Officer monitors compliance and effectiveness of our internal privacy controls, responds to any privacy related inquiries and complaints, and reports annually to OBSI’s Board of Directors.

Annually, OBSI staff sign our Code of Conduct, which includes privacy related obligations. 

12. Transparency

Adequate information about the dispute-resolution process, the provider and its performance should be disclosed to complainants, organizations and the public.

OBSI maintains a public website that includes detailed and comprehensive information about our organization, our dispute resolution process and our performance in meeting our standards and objectives, including:

• Consumer focused information about our complaint handling process and what to expect, including infographics, videos and text formats

• Information for financial services firms about our structure, fees, what to expect when responding to complaints and firm oriented bulletins

• Information about how we work, including our approaches, our service standards and FAQs

• Case data and insights including banking case summaries, case studies, quarterly case data and our interactive Data Cube

• News and publications, including our annual reports, news releases, newsletters, reports and submissions, and public consultations

• Information about our organization, including our governance, how we are regulated, our history, our vision and strategic plan, and our privacy and accessibility commitments

All case related correspondence and documentation are communicated to consumers and firms in plain language to ensure clarity and transparency.

We regularly conduct public consultations about material changes to our operations or services, including material changes to our governance, our Terms of Reference or By-Laws.

We actively participate in online digital and social media platforms to reach a broader audience, promote awareness of our services and share our knowledge and expertise.

We conduct regular outreach to industry and consumer advocacy organizations through roundtables and bilateral meetings to ensure the open exchange of information with these key stakeholder groups.

 13. Agreement

A dispute-resolution process should be operated with the agreement of the parties.

OBSI’s process requires the agreement of all parties to the dispute. When firms become members of OBSI, they explicitly agree to comply with our Terms of Reference which include a description of firms’ obligations in our process. Consumers who initiate OBSI investigations for complaints that are within our mandate are required to sign our consumer consent letter which includes their agreement to participate in our process in accordance with our Terms of Reference.

OBSI’s consumer consent letter and Terms of Reference are available to the public on our website. 

14. Capacity

Sufficient resources should be made available for and committed to dispute resolution, and should be managed effectively and efficiently.

OBSI’s Board of Directors is independent and has the responsibility to ensure that the organization has sufficient resources to carry out our responsibilities effectively and efficiently.

The Ombudsman is responsible to the Board for determining the organization’s reasonable operational requirements, based on projected case volumes and expected changes in the organization’s operating environment, and to set annual budgets accordingly.

The Board and the Ombudsman monitor operational efficiency and report publicly and to regulators on key operational and financial metrics of performance.

15. Improvement

OBSI’s strategic plan includes a core organizational focus on organizational resilience and continuous improvement. OBSI’s objective is to be efficient, effective and adaptive to changes in the financial services sector and our operating environment. This approach to innovation and organizational flexibility is woven into the culture of OBSI.

This objective includes a focus on fostering a culture of innovation and continuous improvement in the organization, delivering high value services to participating firms and investing in the organization’s people to strengthen employee engagement and well-being and support operational excellence.

We practice innovation and continuous improvement by actively monitoring risks, strengthening our capacity to forecast trends, and adjusting our practices to appropriately address emerging issues. We also continuously work towards identifying new and innovative approaches to our operations and adopting new processes to improve our service.

To ensure we are continuously aware of modern best practices, we participate in ADR and industry conferences and meetings and we have memberships in national and international ADR groups that exchange information about current and emerging best practices.

We survey all participating firms and consumers who have used our service on an annual basis to identify opportunities for improvement of our service. 

16. Customer-focused approach

The organization should adopt a customer-focused approach with respect to dispute resolution and should be open to feedback.

We are committed to considering the needs of all stakeholders and employ multiple methodologies to ensure our continuous engagement and awareness of stakeholder needs.

We conduct regular outreach to industry and consumer advocacy organizations through roundtables and bilateral meetings to ensure the open exchange of information with these key stakeholder groups.

We survey all participating firms and consumers who have used our service on an annual basis to identify opportunities for improvement of our service. Results of these surveys are published annually on our website and in our annual report.

We regularly conduct public consultations about material changes to our operations or services, including material changes to our governance, our Terms of Reference or By-Laws.

We assist consumers in making their complaint when necessary.

Consumers can submit requests for reconsiderations of our recommendations, and users of our service can submit formal complaints or comments about our service and compliance with our organizational obligations.