CASE STUDY: FSRAO Digital Transformation to FSRAForward

From Obligation to Optimization

EXECUTIVE SUMMARY

FSRA was formed through the merger of two regulatory bodies. As a result, it inherited fragmented systems, inconsistent data, and aging technology in urgent need of replacement. As a new organization, FSRA also needed to build trust across the sectors it regulates. In response, FSRA launched a Digital Transformation program “FSRAForward“ focused on modernizing core capabilities, streamlining processes, and fostering collaboration through harmonized data and tools. The program aimed to support a more efficient, agile, and trusted regulatory environment.

OBJECTIVE: Convert Vision into Purposeful, Actionable Deliverables

Senior leadership undertook a strategic assessment to define a future vision grounded in principle-based regulation. Confronted with the dual challenge of maintaining regulatory oversight while modernizing core capabilities and technology, they developed a comprehensive transformation blueprint. To realize this vision, FSRA launched the Digital Transformation initiative—mandated to design the future state by establishing the program structure, governance framework, and foundational processes and controls required to support a complex, multi-year, multi-faceted program that turns vision into outcomes.

KEY CHALLENGES: Culture, Talent, Technology & Internal Processes

FROM BLUEPRINT TO PROGRAM: Mobilizing FSRAForward

To advance its transformation vision and operationalize the blueprint, FSRA engaged seasoned consultant Marlene Jackson, Principal and Managing Director of Brightline Group, appointing her as Delivery Lead, Digital Transformation. Marlene was mandated to stand up the FSRAForward program (formerly Digital Transformation), translating strategic intent into a fully structured, governed, and executable initiative. She was responsible for establishing the governance framework, delivery structure, and operational controls needed to support a complex, multi-year program. Her role included managing vendor relationships, embedding program discipline, defining stakeholder engagement models, and implementing foundational processes across planning, execution, and risk management. This mandate positioned FSRA to confidently transition from vision to execution, laying the groundwork for the next phase of the FSRAForward program.

OUTCOME: Deployment Readiness

Conclusion

Turning Vision into Momentum: The success of FSRAForward was rooted in a clear strategic vision, deliberate planning, and the timely engagement of the right expertise. By aligning leadership intent with structured execution, FSRA transformed ambition into action—building the foundational capabilities, processes, and partnerships needed to drive its regulatory modernization. This coordinated approach not only enabled FSRA to move confidently from planning to deployment readiness, but also positioned the organization to sustain progress, navigate complexity, and deliver on its mandate as a modern, outcomes-driven regulator.

Since its inception in June 2018, the Financial Services Regulatory Authority of Ontario (FSRAO/FSRA) has worked to become a principles-based regulator supported by a risk-based framework. The goal was to reduce regulatory burden and improve efficiency, flexibility, and innovation. At the same time, FSRA aimed to enhance consumer outcomes without compromising trust or financial stability. A core part of this transformation is replacing manual processes with harmonized data, advanced analytics, and digital infrastructure.

To successfully transition to its future state, FSRA recognized the opportunity for meaningful organizational change. As a newly established regulator, it faced early-stage challenges, including a fragmented culture, limited operational maturity, and rigid procurement practices—but also a clear vision for transformation. With no prior experience delivering an initiative of this scale and complexity, FSRA acknowledged the need to strengthen internal capacity and capability. Gaps in technology, processes, and delivery frameworks underscored the urgency of building a solid foundation. To advance its vision and accelerate progress, FSRA recognized that engaging external expertise would be essential to catalyze the transformation ahead.

Underpinned by expert-led guidance, FSRA successfully advanced from strategic planning to operational readiness by establishing the core structures, tools, and processes required to execute the FSRAForward program. This included managing the relationship with FSRA’s system integrator, Deloitte, and developing comprehensive stakeholder engagement frameworks for both internal and external audiences. Interaction models were defined across workstreams to ensure alignment and coordination, while standardized reporting mechanisms were put in place to track schedule, budget, risks, issues, and key decisions.

An integrated program roadmap and master delivery plan were created to guide execution, supported by detailed methodologies for resource planning and financial tracking. FSRA also developed onboarding processes in collaboration with Procurement to ensure seamless team integration and partnered with the Risk team to embed a proactive, risk-aware approach to program management. With these foundational elements in place, FSRA was well-positioned to move forward confidently into the next phase of its transformation journey.