Penny Lee                                                     
Consultant
Former Senior Director, Property & Casualty Insurance Group, OSFI

Penny Lee is an independent consultant. Prior to becoming an independent consultant, Penny enjoyed a long career as a financial services regulator with the Office of the Superintendent of Financial Institutions (OSFI) before retiring in 2020. Her last full-time position was Senior Director at OSFI, where she was the Head of Supervision, responsible for the Property & Casualty Insurance sector.

Previous roles at OSFI included Managing Director, Financial Institutions Group – Insurance and Director, Life Conglomerate Group. Penny also represented OSFI at the Canadian Council of Insurance Regulators (CCIR) and with other industry (regulatory) groups.

Penny has over 30 years of executive leadership experience in the financial services industry, in both the private and public sector. Her deep public sector experience gained at OSFI is complemented by years of progressive leadership roles in the life insurance industry. Her breadth of experience encompasses risk management, corporate governance, finance, accounting, internal audit, general administration, marketing & sales etc.

Penny holds an Accredited Accounting Professional Designation (CPA, CGA) and Certificate, Fellow in Board Governance (FBG) from the Canadian Board Diversity Council.

She serves on the board of the Property & Casualty Insurance Compensation Corporation (PACICC) and not-for-profits.