Celebrating Another Achievement

We are excited to announce we placed No. 168 on the inaugural Report on Business ranking of Canada’s Top Growing Companies for 2019. This marks our second growth award in 2019, having been ranked to the Growth 500 earlier this month for the seventh consecutive year.  The list of Canada’s Top Growing Companies aims to celebrate entrepreneurial achievement by identifying and amplifying the success of growth-minded, independent businesses in Canada.

Canada’s Top Growing Companies ranked Canadian companies based on three-years of revenue growth. Optimus SBR earned its spot on the list of Top Growing Companies with three-year growth of 212%! “This is such an honour for everyone at Optimus SBR and we are very proud of this achievement,” says Kevin Gauci, CEO Optimus SBR.

“We created Canada’s Top Growing Companies program because we believe there is much Report on Business readers can learn from the successes of the country’s best entrepreneurs,” says Derek DeCloet, Editor of Report on Business and Executive Editor at The Globe and Mail. “We’re excited to be telling their stories.”

“The 400 companies on the inaugural Report on Business ranking of Canada’s Top Growing Companies ranking demonstrate ambition, innovation and tremendous business acumen,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “Their contributions to the economy help to make Canada a better place, and warrant commendation.”

The full list of 2019 winners, and accompanying editorial coverage, is published in the October issue of Report on Business magazine—out now—and online at tgam.ca/TopGrowing.


About The Globe and Mail

The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With the award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.6 million readers every week. The Report on Business magazine reaches 1.8 million readers in print and digital every issue. Their investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.


For more information, you can contact us anytime through our contact form or by emailing us at info@optimussbr.com.

Intelligent Growth. Culture Obsessed.

On September 12th, 2019, Canadian Business and Maclean’s magazine released the list of Canada’s Fastest-Growing Companies and ranked Optimus SBR No. 273  on the Growth 500. Produced by Canada’s premier business and current affairs media brands, the Growth 500 ranks Canadian businesses on five-year revenue growth. This is the seventh year that Optimus SBR has ranked on the Growth 500, exemplifying our mantra of Intelligent Growth, Culture Obsessed.

“Optimus SBR is honoured to be named as one of Canada’s fastest-growing companies again this year,” says CEO Kevin Gauci. “We have an incredible dynamic team of entrepreneurial thinkers with a passion for growing both our business as well as our clients’, and this achievement reflects the talent and hard work of our firm. Thank you to everyone at Optimus SBR for once again helping us achieve this honour.”

“The companies on the 2019 Growth 500 are truly remarkable. Demonstrating foresight, innovation and smart management, their stories serve as a primer for how to build a successful entrepreneurial business today,” says Beth Fraser, Growth 500 program manager. “As we celebrate over 30 years of the Canada’s Fastest-Growing Companies program, it’s encouraging to see that entrepreneurship is healthier than ever in this country.”

For over 30 years, the Growth 500 has been Canada’s most respectable and influential ranking of entrepreneurial achievement. Ranking Canada’s Fastest-Growing Companies by five-year revenue growth, the Growth 500 profiles the country’s most successful growing businesses. The Growth 500 is produced by Canadian Business. Winners are profiled in a special Growth 500 print issue of Canadian Business (packaged with the October issue of Maclean’s magazine) and online at Growth500.ca and CanadianBusiness.com. Founded in 1928, Canadian Business is the longest-serving and most-trusted business publication in the country. It is the country’s premier media brand for executives and senior business leaders.

For more information, you can contact us anytime through our contact form or by emailing us at info@optimussbr.com.


At Optimus SBR, we regularly keep an eye on public sector developments. In March, we discussed Ontario’s changing health care landscape, Ontario Health Teams (OHTs), and how organizations can respond. Since then, there have been several new developments which matter a lot for health and social system organizations.

First, the Premier’s Council on Improving Healthcare and Ending Hallway Medicine issued its second and final report, “A Healthy Ontario: Building a Sustainable Health Care System.”[1] While it comprises a set of recommendations and is not yet a policy, it gives some hints on the government’s direction, including potential changes to privacy and home care legislation, a focus on virtual care, and continued strong emphasis on the role of primary care in a more integrated health system. OHTs are clearly central to the thinking of the Council as well.

Second, following a flurry of activity leading up to the May 15th deadline to undertake the OHT Self-Assessment, the Ministry of Health (MOH) found over 150 Self-Assessment Forms (SAFs) on its proverbial front step, an overwhelming response. Finally, on July 18th, Minister Elliott and Deputy Angus announced via webinar the results of the process, through which 31 groups have been invited to proceed to the Full Application stage of the OHT process. Since then, a series of webinars have been made available to prospective groups on a wide variety of topics related to OHTs and the Full Application.

Why does all this matter? Because organizations need to figure out what a single fiscal and clinical accountability structure looks like for their patients and themselves in an OHT world, and how to work with others to get there. The MOH has made some significant decisions. As a result, for many organizations now, it’s decision time.


Ontario Health Teams and the Designation Process

As mentioned, the OHT process started with the SAFs. For reference, we have reproduced the MOH’s diagram from the OHT guidance document below:[2]

Figure 1: The Ontario Health Team Designation Process


Source: Ministry of Health

Now that the MOH has completed its validation process for the 150-plus SAFs received, it has sorted the groups into ones that will:

Following our recent achievement of being ranked 27th in our category of the top 50 Best Workplaces in Canada in 2019 by Great Place to Work®, we are proud to announce that our organization has been named on two additional 2019 lists of Best Workplaces™ – Professional Services and Mental Wellness. At Optimus SBR, our success is directly correlated to the happiness and engagement of our people. Each of us embody the entrepreneurial spirit and have something unique to contribute to the fabric of our organization.

The 2019 Best Workplaces™ for Professional Services and Mental Wellness lists are compiled by the Great Place to Work® Institute. To be eligible for the Professional Services list, organizations must be Great Place to Work Certified™ in the past year, work primarily in the Professional Services Industry, and offer customized, knowledge-based services to clients. To be eligible for the Mental Wellness list, organizations must also be Great Place to Work Certified™ and at least 80% of employees must agree their workplace is psychologically and emotionally healthy. Great Place to Work® determines the best based on the overall Mental Wellness Index score from employees, as well as the range and quality of programs which encourage mental wellness.

About Optimus SBR

Optimus SBR was built on a simple but powerful premise; Let’s build a consulting organization where we would want to work. An organization where our employees come first, culture is key, and our clients would love to work with usSince inception in 2010, Optimus SBR has understood that success was dependent on creating a positive and engaging workplace. We have a number of employee-led committees: Corporate Social Responsibility, Ministry of Fun, Optimus Women’s Network, People & Culture, Health & Wellness, Geek Lab, and Pro Bono. Each of these committees takes great pride in defining and executing on our amazing culture, both internally and externally. We are Canada’s largest independent consulting firm and in less than a decade, we have increased our employee headcount nearly tenfold. We have also been consistently named one of the fastest growing companies in North America, and recognized several times as a top employer.

About Great Place to Work®

Great Place to Work® is the global authority on high-trust, high-performance workplace cultures. Over 8,000 organizations are surveyed by GPTW, representing more than 10 million employees in over 50 countries. The results provide tremendous understanding of effective business cultures and the increasingly complex marketplace. Through proprietary assessment tools and services, GPTW recognizes the world’s Best Workplaces™ in a series of national lists including those published by The Globe & Mail (Canada) and Fortune magazine (USA). GPTW provides the benchmarks and expertise needed to create, sustain, and recognize outstanding workplaces.

Getting Ahead of Regulatory Changes:
Yes, It Can Be Done.

In the wake of the 2008 financial crisis, governments and regulators around the world have imposed a seemingly unending series of new regulations on financial institutions (FIs) – think Basel, Anti-Money Laundering (AML), International Financial Reporting Standards (IFRS), and proposals to amend capital market legislation in Ontario to regulate benchmarks like the Canadian Dollar Offered Rate (CDOR) and the Canadian Overnight Repo Rate Average (CORRA), to name a few.[1] The focus on financial safety for consumers, markets and the world economy continues to generate new regulations that are hard to predict – who would have thought FI sales practices would be a focus across North America two years ago?

They keep coming, and they matter. All of them cost money. “Small” changes can cost $20 million for an FI to comply, while larger ones are upward of $100 million, and even more if the program goes off the rails. Regulators often require such programs to meet tight deadlines, after which the work does not stop, but rather continues in a different form as the organization learns to work under the new regulatory regime. Some regulatory changes in reporting (e.g., IFRS) affect bottom-line reporting directly. Rarely does an executive get excited by compliance – or at least, before they learn their organization might not be able to comply, at which point everyone gets excited and agitated. Until then, everybody wants to go to the party – that is, be compliant with regulatory changes – but nobody wants to stay and clean up – that is, put in the time and effort required to implement these changes.

At Optimus SBR, we run very large programs for financial services companies; we’ve completed 25 such implementations in the last year alone.  We know that every organization responds to these challenges and implements solutions differently.

Based on this experience, we offer below an overview of four challenges, and four solutions for FIs working to stay on top of regulatory changes today and tomorrow.

Four Challenges 

FIs do many things well – they operate at a great scale, pool capital for investment, and price and allocate risk, supporting robust financial markets and economic growth. They do all this repeatedly and, for the most part, without much drama. So why should they struggle with regulatory change? There are several reasons.

It’s always more work than you think.

Regulatory change programs typically require the cooperation of multiple divisions or departments – often Risk, Finance, IT, Business Intelligence, not to mention HR or product lines. To further complicate matters, these change programs are often misidentified as simple regulatory or accounting projects. In reality, these are actually large, complex, multi-function projects or programs.

At first, FIs often suppose they need to coordinate with others who already have what is needed to proceed. Then, slowly, they’ll realize they don’t have the critical components, such as analytics and modelling tools, or data in a form that’s usable to genuinely impact the critical path to delivery.

In the meantime, the regulator’s deadline hasn’t changed. You will find that no one person knows everything the organization needs to know, precisely because this is highly complex and new terrain. But the organization will need to draw on its collective wisdom to get all this knowledge in one place and will need to do so well before the deadline. Often this means an enormous amount of work, and many organizations do not realize this until it is too late.

Your current organizational design and infrastructure was not built for this.

Regulatory compliance creates new responsibilities and accountabilities that can cut across organizations. The Sarbanes-Oxley Act, for example, meant many FIs’ Enterprise Risk divisions found themselves responsible for calculations that directly affected financial statements, which had previously been regarded as the sole preserve of Finance departments, to increase accountability and ensure that financial disclosures are accurate and controlled. The Sarbanes-Oxley Act also affected contributors to disclosures, requiring them to design, run, and evidence controls for auditors.

Regulatory programs often drive changes in accountabilities, working relationships, and much else besides the initial requirements. Infrastructure – be it physical, organizational or electronic – that has sufficed for years or decades is often deemed inadequate for new activities and tasks, and there’s no time to replace it before the regulator’s deadline.

And just to complicate things further, many of the new requirements are now calling for augmented historical information. Data that was never previously collected or subject to quality control is now required. Teams are left scrambling to complete a puzzle with pieces that don’t fit or don’t exist at all.

A lot of energy is spent trying to keep your eye on the right prize.

When organizations do get Risk, Finance, IT, Business Intelligence and product people in a room together, they often find it difficult to focus on the regulatory concerns, compliance requirements, and parameters that are important. Finance cares about the details balancing correctly. Risk is focused on the biggest enterprise risks, monetary or otherwise. Business Intelligence is worried about the accuracy of the data and flexibility of analytical tools.

Depending on the change in question, the regulatory division might be concerned about things that are immaterial. Controls and auditors may follow frameworks that require new focuses, some of which may not be the critical path for the project.

In other words, everyone is having a hard time getting on the same page when it comes to what actually matters, which in this instance, is what the regulator requires.

To further complicate things, divisional or department concerns, and localized focus may obscure the real work at hand or mistake it for the core need rather than knock-on implications that will need to be dealt with later on. And between corralling the disparate information in an environment that wasn’t designed to handle this, you’ve got enough work to do without getting distracted by secondary concerns.

It’s a marathon and a sprint.

Deadlines to implement regulatory changes are beginnings, not the end. While cobbling together the infrastructure, data, reporting, and organizational know-how to comply is no small feat, it typically takes many months, or years, for these capabilities to become business as usual. Just as you let out a big exhale crossing the regulator’s finish line, you can see you still have a much longer road ahead of you – better take a deep breath.

Depending on the scale of change and impact on workflows, organizational designs and target operating models may need to be adjusted. Integration with other standard reporting and governance controls may be required.

In short, organizations need to find a way to make living with the new regulatory change sustainable. This requires knowledge transfer, transitioning people and knowledge from programs and projects to operations, and ensuring everything can be executed repeatedly.

Four Solutions

Take another deep breath. Despite the number of big challenges and a looming deadline, you can come out on top if you execute on the following.

Get with the Program.

To make sure everyone appreciates how much work regulatory change can be, take it seriously and lay the foundations early. Set up a large program with many separate but interrelated projects or workstreams. Many organizations can run projects – few can run programs effectively.

By doing this, you and your organization will begin to understand the end-to-end change requirements and their severity, the impact on the business, and the challenge of meeting the regulator’s timelines.

If you have been through an experience like this, you already get it. If your colleagues have not, or have not had to live with the consequences, they will not. They will need to change how they work and who they work with. You need to set up a program to help them do this.

Figure out what is going to happen once you hit the gas.

Part of the reason people don’t realize how much work a new regulation can create is because it may not affect aspects of the business that are typically gauged to determine whether something is “big” – e.g., dollars, employees, branches, transformations, number of products affected, and so on.

New data and reporting requirements can still require a massive effort, even if the book of business in question is small. The same goes for the number of products affected – major changes to a few products or new data collection requirements can drive enormous amounts of work. Sometimes, it is simply a higher order skillset or level of execution that is needed. When a VP asks, “So, how big is this?” there’s often no immediate answer.

One way to find an answer is to conduct careful discovery grounded in fact. As we said, no one person in the organization knows everything needed to gauge the extent of the work required. Domain expertise matters. Data expertise matters. In general, depth matters, so it is worth diving in early to get a handle on things.

You can’t boil the ocean, so don’t.

You can’t make wholesale changes to your organization in response to every new regulatory directive. However, you can figure out where change can happen, and where it is unlikely to be successful in the short term.

Once you have set up a program and completed your discovery sessions, you need to assess the organizational and resource constraints you will have, and what changes to ask of key stakeholders.

On the bright side, this can help create a burning platform – large change in the face of constraints creates more concern than an ambiguous amount of change and loose talk of how to address it.

Find your Switzerland.

You need someone in charge who understands the amount of work required and its complexity, and who is also seen as a neutral third party. You also need a consistent gauge of where the organization is in the implementation life cycle.

Internal parties are technically capable, but a department or division may be seen as biased and have blind spots. Third parties can offer better transparency and reporting of problems, because their careers and reputations don’t suffer the same way from reporting bad news as internal resources might. Also, neutral third parties can more easily ensure equal voices across divisional lines.

Call the Program Management Experts

Must-do projects like regulatory changes can seem overwhelming and daunting, but it doesn’t need to be. With some careful forethought and the right expertise, regulatory programs can extend beyond just staying onside with the regulator, and set your organization up for long-term success.

In the meantime, if you need help preparing for this hard work, give us a call, or send us a note.

Carolyn Kingaby, Senior Vice President, Financial Services

Peter Snelling, Senior Vice President

[1] See Government of Ontario (2018). A Plan for the People: Ontario Economic Outlook and Fiscal Review, Toronto: Queen’s Printer, p. 57.

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