Good to see you again too.
There are quite formal evaluation processes in place in the university - things like student experience questionnaires, iCevals, etc. Feedback is provided formally on these evalutions to the teaching and learning committees of the appropriate faculties and schools. Where there are apparent weaknesses, processes are put in place to address this. Faculties and schools put plans and strategies into place and these are evaluated in the next round to see if changes/improvements etc have been successful. It is not a perfect sytem, but there is increasingly a culture of understanding that feedback needs to be addressed in some concrete way, both positive and negative feedback.
On a less formal note, there is considerable emphasis on providing feedback on assessment items as part of courses. This includes looking carefully at assessment practices to ensure that appropriate feedback is given to students in an appropriate time frame. Again there are difficulties with this, but the culture is gradually changing and 'closing the feedback loop' is becoming more common.