OSFI Guideline E-23

Be OSFI E-23 ready before May 1, 2027.

Model risk management for Canadian banks, insurers and trust and loan companies. Inventory, risk-rate and govern every model, including AI and machine learning, with audit-ready evidence for OSFI.

  • ✓Scope which of your models and AI systems fall under E-23
  • ✓Review gaps across inventory, risk rating, lifecycle controls and governance
  • ✓Get a prioritized roadmap to May 1, 2027
“So repeatable... Asenion helps standardize our Model Risk Management practice.” — AI Governance Leader, Canadian regional bank
Book your 30-minute E-23 readiness call

30 minutes with our model risk team. No preparation needed.

Under OSFI Guideline E-23, a model is

Any statistical, judgmental or AI/ML technique that processes input data to generate results.

Whether built in-house or sourced from a vendor. OSFI expects an enterprise-wide model inventory, risk rating that drives governance intensity, controls across the full lifecycle (design, review, deployment, monitoring and decommissioning) and clear accountability up to senior management and the board. Third-party and vendor models are in scope.

If a model carries non-negligible risk, including credit, pricing, fraud, AML, capital or generative AI models, it needs full lifecycle governance under E-23.

E-23 applies to every FRFI in Canada
  • ✓Banks and foreign bank branches
  • ✓Life insurance and fraternal companies
  • ✓Property and casualty insurers
  • ✓Trust and loan companies
Why Asenion

Why Canadian FRFIs choose Asenion for E-23.

Asenion is a Canadian AI governance company that has helped banks standardize model risk management since 2018. Our OSFI E-23 policy pack gives your model risk, compliance and internal audit teams one place to govern traditional and AI models against the guideline.

01

Complete model inventory

One evergreen inventory of every model, including AI/ML and vendor models, with owners, versions, data sources, approved uses and limitations.

02

Risk rating that drives governance

Rate each model on financial impact, complexity, autonomy and data reliability, so governance intensity scales with model risk as E-23 expects.

03

Audit-ready lifecycle evidence

Evidence for design, independent review, deployment, drift monitoring and decommissioning, ready for OSFI, internal audit and the board.

OSFI finalized E-23 on September 11, 2025

Your E-23 readiness call, in 30 minutes.

We’ll scope your models, review your gaps, outline a roadmap to May 1, 2027 and show how Asenion’s OSFI E-23 policy pack turns the guideline into controls, tests and evidence.