Strategic outcome and program descriptions

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Department

Strategic Outcome 1

A strong economy and sound public finances for Canadians.

Program 1.1 — Transfer and Taxation Payment Programs

The Department of Finance mandate includes the supervision, control and direction of all matters relating to the financial affairs of Canada that are not by law assigned to the Treasury Board or any other Minister. This Program includes the administration and payment of transfers to provinces and territories, including fiscal equalization, the Canada Health Transfer and the Canada Social Transfer, in support of health and social programs and other shared priorities. In addition, it includes the administration of taxation payments to provinces and territories as well as to Aboriginal governments in accordance with legislation and negotiated agreements. Also included in this Program are commitments and agreements with international financial organizations aimed at supporting the economic advancement of developing countries. In addition, from time to time, the federal government will enter into agreements or enact legislation to respond to unforeseen pressures. These commitments can result in payments, generally statutory transfer payments, to a variety of recipients, including individuals, organizations, and other levels of government.

Program 1.2 — Treasury and Financial Affairs

This Program contributes to the Government of Canada's effective debt and other cost management on behalf of Canadians. It provides direction for Canada's debt management activities, including the funding of interest costs for the debt and service costs for new borrowings. In addition, the Program manages investments in financial assets needed to establish a prudent liquidity position. This Program supports the ongoing refinancing of government debt coming to maturity, the execution of the budget plan, and other financial operations of the government, including governance of the borrowing activities of major government‑backed entities, such as Crown corporations. This Program is also responsible for the system of circulating Canadian currency (bank notes and coins) to ensure efficient trade and commerce across Canada.

Program 1.3 — Economic and Fiscal Policy Framework

This Program is the primary source of advice and recommendations to the Minister of Finance on issues, policies and programs of the Government of Canada related to the areas of economic, fiscal and social policy; federal‑provincial relations; financial affairs; taxation; and international trade and finance. The work conducted by this Program involves extensive research, analysis, and consultation and collaboration with partners in both the public and private sectors, including the Cabinet and the Treasury Board; Parliament and parliamentary committees; the public and Canadian interest groups; departments, agencies and Crown corporations; provincial and territorial governments; financial market participants; the international economic and finance community; and the international trade community. In addition, this Program includes policy advice on the development of Memoranda to Cabinet, negotiation of agreements, drafting of legislation and sponsoring of bills through the parliamentary process, which are subsequently administered by other programs within the Department and by other government departments and agencies. The aim of this Program is to create a sound and sustainable fiscal and economic framework that will generate sufficient revenues and provide for the management of expenditures in line with the Budget Plan and financial operations of the Government of Canada.

Strategic Outcome 2

The following program supports all strategic outcomes within this organization.

Program 2.1 — Internal services

The Internal services program supports all strategic outcomes and is common across government. Internal services are groups of related activities and resources that are administered to support the needs of programs and other corporate obligations of an organization. These groups are: Management and oversight services; Communications services; Legal services; Human resources management services; Financial management services; Information management services; Information technology services; Real property services; Materiel services; Acquisition services; and Travel and Other administrative services. Internal services include only those activities and resources that apply across an organization and not to those provided specifically to a program.

Canada Deposit Insurance Corporation

Strategic Outcome 1

To provide, for the benefit of persons having deposits with member institutions, deposit insurance against loss of part or all of such deposits because of the insolvency of the member institution.

Canadian International Trade Tribunal

Strategic Outcome 1

Fair, timely and transparent disposition of international trade cases, procurement cases and government‑mandated inquiries within the Tribunal's jurisdiction.

Program 1.1 — Adjudication of Trade Cases (quasi‑judicial role)

The Tribunal's adjudicative mandate is to provide a fair, timely and transparent trade remedies system to Canada's business sector, thereby preserving confidence in the Canadian market, to the benefit of Canadian businesses and consumers. The Tribunal acts as an independent, quasi‑judicial, decision‑making body that derives its adjudication authority from the Canadian International Trade Tribunal Act, the Special Import Measures Act (SIMA), the Customs Act and the Excise Tax Act. It operates within Canada's trade remedies system to apply existing policies and laws on trade agreements seeking to address unfair competition in the domestic market or provide emergency protection against imported items that are seen to cause injury to a domestic industry. The Tribunal also hears appeals from decisions of the Canada Revenue Agency (CRA) and Canada Border Services Agency (CBSA). It has also been designated as the bid challenge authority under the Agreement on Internal Trade (AIT), the North American Free Trade Agreement (NAFTA) and the World Trade Organization (WTO) Agreement on Government Procurement (AGP) against the federal government procurement process. In its quasi‑judicial role, the Tribunal's caseload is comprised of the following: Unfair trade cases — inquiries under SIMA into whether dumped and/or subsidized imports have caused or are threatening to cause injury to a Canadian industry; Bid challenges — inquiries into complaints by potential suppliers concerning federal government procurement under NAFTA, the AIT and the AGP; Appeals of decisions of the CBSA made under the Customs Act and SIMA, and decisions of the CRA under the Excise Tax Act; and Safeguard cases — inquiries into whether the rapid build‑up of imports from China, or from around the world, is causing injury to a Canadian industry.

Program 1.2 — General Economic Inquiries and References (advisory role)

In its advisory role, the Tribunal's caseload is comprised of three types of cases. First, the Tribunal plays an advisory role when requested by Government to recommend measures to alleviate injury to domestic producers pursuant to a safeguard inquiry. Periodically, the Government may also direct the Tribunal to inquire into general economic, trade or tariff matters. In such inquiries, the Tribunal has the power to conduct research, receive submissions, hold hearings and report with recommendations, as required, to the Government or the Minister of Finance. When these requests arise, the Tribunal faces a strain on its resources and must meet very strict government imposed deadlines. Finally, the Tribunal has received a standing reference from the Minister of Finance to investigate requests from domestic producers for tariff (import tax) relief on imported textile inputs for use in their manufacturing operations and make recommendations to the Minister that would maximize the net economic benefits to Canada. In its advisory role, the Tribunal's caseload is comprised of the following: Safeguard cases — where the Tribunal finds injury to a Canadian industry, the Governor in Council may request the Tribunal to recommend appropriate measures for dealing with the build‑up of imports; General economic, trade and tariff inquiries referred by the Government — inquiries and advice on such economic, trade and tariff issues as are referred to the Tribunal by the Governor in Council or the Minister of Finance; and Standing tariff reference referred by the Minister of Finance — investigations into requests from Canadian producers for tariff relief on imported textile inputs that they use in their production.

Strategic Outcome 2

The following program supports all strategic outcomes within this organization.

Program 2.1 — Internal services

The Internal services program supports all strategic outcomes and is common across government. Internal services are groups of related activities and resources that are administered to support the needs of programs and other corporate obligations of an organization. These groups are: Management and oversight services; Communications services; Legal services; Human resources management services; Financial management services; Information management services; Information technology services; Real property services; Materiel services; Acquisition services; and Travel and Other administrative services. Internal services include only those activities and resources that apply across an organization and not to those provided specifically to a program.

Financial Consumer Agency of Canada

Strategic Outcome 1

The Financial Consumer Agency of Canada (FCAC) has five objectives:

  • supervise financial institutions to ensure they comply with federal consumer protection measures (known as consumer provisions) that apply to them;
  • promote the adoption by financial institutions of policies and procedures designed to implement the consumer provisions;
  • monitor the compliance of financial institutions with voluntary codes of conduct and any other public commitments they have made to protect the interests of consumers;
  • promote awareness of the obligations of financial institutions; and
  • foster an understanding of financial services and issues relating to financial services.

Program 1.1 — Financial Consumer Agency of Canada

We provide consumer information and oversee financial institutions to ensure that they comply with federal consumer protection measures.

Financial Transactions and Reports Analysis Centre of Canada

Strategic Outcome 1

A Canadian financial system resistant to money laundering and terrorist financing.

Program 1.1 — Financial Intelligence Program

FINTRAC's Financial Intelligence Program, mandated by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), is a component of the broader national security and anti‑crime agenda. The program strives to disrupt the ability of criminals and terrorist groups that seek to abuse Canada's financial system and to reduce the profit incentive of crime. The main method of intervention used by the program is to analyze reported financial transactions and other information the Centre is authorized to receive and collect under the PCMLTFA to produce financial intelligence products including tactical case disclosures and strategic intelligence products that are relevant to the investigation, prosecution or understanding of money laundering and terrorist financing activities.

Program 1.2 — Compliance Program

FINTRAC's Compliance Program is responsible for ensuring compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated regulations. The compliance program utilizes a risk based approach to deliver enforcement, relations and support activities that help ensure compliance with legislative and regulatory obligations that apply to individuals and entities operating in Canada's financial system.

Strategic Outcome 2

The following program supports all strategic outcomes within this organization.

Program 2.1 — Internal services

The Internal services program supports all strategic outcomes and is common across government. Internal services are groups of related activities and resources that are administered to support the needs of programs and other corporate obligations of an organization. These groups are: Management and oversight services; Communications services; Legal services; Human resources management services; Financial management services; Information management services; Information technology services; Real property services; Materiel services; Acquisition services; and Travel and Other administrative services. Internal services include only those activities and resources that apply across an organization and not to those provided specifically to a program.

Office of the Auditor General

Strategic Outcome 1

Through legislative auditing, we contribute to a well‑managed and accountable government for Canadians.

Program 1.1 — Legislative Auditing

We conduct independent audits and studies that provide objective information, advice and assurance to Parliament, government and Canadians.

Office of the Superintendent of Financial Institutions

Strategic Outcome 1

A safe and sound Canadian financial system.

Program 1.1 — Regulation and Supervision of Federally Regulated Financial Institutions

This program involves regulating and supervising federally regulated financial institutions (FRFIs) to determine whether they are in sound financial condition and are complying with their governing statute law and supervisory requirements; monitoring the financial and economic environment to identify issues that may impact these institutions negatively; and intervening in a timely manner to protect depositors and policyholders from undue loss, while recognizing that management and boards of directors are ultimately responsible, and that financial institutions can fail. Costs for this program are recovered through base assessments and user fees and charges paid by the federally regulated financial institutions covered under the Bank Act, Trust and Loan Companies Act, Insurance Companies Act and Cooperative Credit Associations Act. The Office of the Superintendent of Financial Institutions also receives revenues for cost‑recovered services to provinces, for which it provides supervision of their institutions on a fee for service basis.

Program 1.2 — Regulation and Supervision of Federally Regulated Private Pension Plans

This program involves regulating and supervising federally regulated private pension plans to determine whether they are meeting minimum plan funding requirements and are complying with their governing law and supervisory requirements. This program provides risk assessments of pension plans covering employees in federally regulated areas of employment; timely and effective intervention and feedback to protect the financial interests of plan members and beneficiaries from undue loss, while recognizing that plan administrators are ultimately responsible, and that plans can fail; a balanced relevant regulatory framework; and a prudentially effective and responsive approvals process. This program incorporates risk assessment and intervention, regulation and guidance, and approvals and precedents related to federally regulated private pension plans under the Pension Benefits Standards Act, 1985. The costs for this program are recovered from pension plan fees based on the number of members in each federally regulated pension plan.

Strategic Outcome 2

A financially sound and sustainable Canadian public retirement income system.

Program 2.1 — Actuarial Valuation and Advisory Services

The federal government and the provinces, through the Canada Pension Plan (CPP), public sector pension arrangements and other social programs have made commitments to Canadians and have taken on emanated responsibility for the financing of these commitments. Some are long‑term and it is important that decision‑makers, Parliamentarians and the public understand these and the inherent risks. This program plays a vital and independent role in this process. It provides checks and balances on the future costs of the different pension plans under its responsibilities. This program provides a range of actuarial services, under legislation, to the CPP and some federal government departments. It conducts statutory actuarial valuations of the CPP, Old Age Security (OAS) and Canada Student Loans programs, and pension and benefits plans covering the Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police (RCMP), federally appointed judges, and Members of Parliament. The Office of the Chief Actuary (OCA) is funded by fees charged for its actuarial valuation and advisory services and by an annual parliamentary appropriation.

Strategic Outcome 3

The following program supports all strategic outcomes within this organization.

Program 3.1 — Internal services

The Internal services program supports all strategic outcomes and is common across government. Internal services are groups of related activities and resources that are administered to support the needs of programs and other corporate obligations of an organization. These groups are: Management and oversight services; Communications services; Legal services; Human resources management services; Financial management services; Information management services; Information technology services; Real property services; Materiel services; Acquisition services; and Travel and Other administrative services. Internal services include only those activities and resources that apply across an organization and not to those provided specifically to a program.

PPP Canada Inc.

Strategic Outcome 1

Transform Canada into a leader for public‑private partnerships (P3).

Program 1.1 — Federal Public‑Private Partnership Initiatives

Through this program, PPP Canada Inc. will: — manage a Public‑Private Partnerships Fund (P3 Fund), a unique infrastructure program designed to support innovative public‑private partnerships projects; — assess public‑private partnerships opportunities for contributions under other Government of Canada infrastructure programs to ensure consideration of such arrangements; — assess public‑private partnership opportunities and advise on the execution of public‑private partnership projects at the federal level; and — act as a source of expertise and advice for public‑private partnership matters in order to encourage the further development of Canada's public‑private partnerships market.

Royal Canadian Mint

Strategic Outcome 1

The strategic outcomes of the Royal Canadian Mint (RCM) are to:

  • elevate the RCM into a world‑class brand that is recognized for quality, innovation and exceeding customer's expectations;
  • ensure that Canadian circulation products and services are cost‑effective, accessible, relevant and inspire Canadians to celebrate their history, culture and values;
  • ensure that foreign coinage, bullion and refinery services, collectible and other related and services are leaders in their respective markets;
  • generate a profit and maintain long‑term viability through an ongoing commitment to customer satisfaction, growth and efficiency;
  • create an environment where all employees demonstrate the organization's values and celebrate their success;
  • and ensure that health, safety and the environment are paramount considerations in providing an ideal workplace.

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