Because of the degree of specialization within the industry, it's a matter of balance between training and development of existing staff and bringing in new people who have been there, seen it, done it on the outside, and can bring a little more current information.
Some examples of specialties at the forefront today would be credit risk, operational risk, and stochastic modelling, because of the risk assessment models that are being introduced and that we supervise. Those types of individuals are difficult to find.
One of the advantages we have, though, as the regulator, particularly now, is the good reputation OSFI has. These people are talented but scarce, and they see OSFI as a tremendous learning experience.
With respect to training, we have to ensure that the people who have been with OSFI longer keep current. So we bring in specialists. We have internal training from those new hires, who bring more recent experience. In addition, we bring in other specialists from wherever we need to find them.
