Financial Sector Policy
Master of Science (Business Administration), University of British Columbia
Bachelor of Commerce (Honours), Queen's University
Mark Zelmer has more than 30 years experience dealing with financial sector policy and regulatory issues having worked for the Office of the Superintendent of Financial Institutions, Canada (OSFI); the Bank of Canada; and the International Monetary Fund (IMF). He served first as an Assistant Superintendent and then as Deputy Superintendent of Financial Institutions at OSFI from December 2011 until June 2016. Prior to that he spent more than 20 years with Bank of Canada serving in progressively more senior positions, including as the first leader of its Financial Stability Department from September 2008 until November 2011. He also spent almost four years with the IMF from January 2000 until November 2003 where he served first as senior economist and then as Deputy Division Chief in what is now its Monetary and Capital Markets Department.
Mark also has been an active contributor to the global regulatory reform agenda in the wake of the financial crisis. As a member of the Basel Committee on Banking Supervision from September 2008 through June 2016 he chaired the development of several components of the Basel III framework and led a peer review assessment of the European Union's adoption of Basel III capital requirements. He also served on the Financial Stability Board's Standing Committee on Supervisory and Regulatory Cooperation from July 2014 to June 2016 and co-chaired its work on structural vulnerabilities associated with the global asset management industry.
Mark has also been busy since retiring from OSFI. He currently sits on the Boards of Directors of Assuris and State Street Trust Company of Canada and has helped the International Monetary Fund with its recent assessments of the Japan and US financial sector. In response to a request from the UK government he also conducted an independent review of the prudential supervision of a medium-sized UK bank (Co-Op Bank plc) that nearly failed in 2013.