Mr. Gaspar Csete is a director at the Office of the Superintendent of Financial Institutions within the Housing and Mortgage Risk Division. In this role, he has been responsible for identifying risks in the RESL space and coming up with responses to those risks as appropriate. He has been leading the effort on developing the Loan to Income ratio-based supervisory measure but has also been responsible for the annual calibration of the MQR.

Prior to his current role, he worked in the Industry Surveillance and Credit Risk Divisions of OSFI, where he helped coordinate different work streams across both the retail and wholesale risk areas. He took a leading role in several broader FRFI-facing initiatives, including work on CLPs, underwriting guidance, and setting expectations on innovative products in RESL.

Before joining OSFI, Gaspar spent his entire career at Capital One’s Canadian operations in a variety of first line roles, spanning from marketing strategy through collections, to digital product management, but spent the majority of his time in the second line credit risk management function. In this role, he was responsible for effective challenge on all credit strategies, he owned the provisions, stress testing, and was responsible for all economic analysis.

Stefania Mellace is a Senior Manager in the Housing and Mortgage Risk Division at the Office of the Superintendent of Financial Institutions (OSFI). In her role, she managed the development of the Loan-to-Income supervisory measure and the calibration of the minimum qualifying rate (or “mortgage stress test”). She began her career at OSFI in the Credit Risk Division, where she led a cross-sector review of compliance with OSFI Guideline B-20 – Residential Mortgage Underwriting Practices and Procedures. Prior to joining OSFI, Stefania was a Director in Enterprise Risk Management at Royal Bank of Canada, where she was responsible for provisioning and risk reporting at the enterprise level.

Stefania holds a Bachelor of Business Administration (Hons.) from Schulich School of Business and is a Chartered Professional Accountant (CPA, CA). Outside of work, she loves travelling with her family, playing tennis, and riding around on her Vespa scooter.