Actuarial Specialist, Life Insurance (RE-07)

Duties

OSFI’s Actuarial Division is seeking a highly motivated individual to carry out the role of Actuarial Specialist, Life Insurance. The successful candidate will provide actuarial advice to teams in OSFI’s Regulation and Supervision Sectors with respect to the actuarial function and the associated risk management activities of life insurance companies, including actuarial valuation, financial statement presentation and capital requirements and lead or participate in benchmarking and related projects. The successful candidate will also provide technical actuarial advice in developing assessment criteria which will be used to review future applications for the use of internal models to determine regulatory capital. The successful candidate must be a seasoned professional capable of enhancing and contributing to the division’s efforts to influence insurance practices, including Canadian and international standard setting that affects actuarial and risk management practices.

Intent of the process

This selection process may be used to establish a pool of qualified candidates, which could be used to staff similar or identical positions with various linguistic profiles and requirements, security profiles and various tenures.

Positions to be filled: 1

Information you must provide

Your résumé.

You must meet all essential qualifications in order to be appointed to the position. Other qualifications may be a deciding factor in choosing the person to be appointed. Some essential and other qualifications will be assessed through your application. It is your responsibility to provide appropriate examples that illustrate how you meet each qualification. Failing to do so could result in your application being rejected.

In order to be considered, your application must clearly explain how you meet the following (essential qualifications)

ESSENTIAL EDUCATION
● A university degree or an acceptable combination of education, experience and training.
● Fellowship of the Canadian Institute of Actuaries or equivalent designation.

Degree equivalency

ESSENTIAL EXPERIENCE
● Recent and relevant experience in the Life insurance industry obtained through insurance, consulting or regulatory work.
● Actuarial experience in the valuation of policy liabilities or in critiquing risk management practices in insurance companies.

The following will be applied / assessed at a later date (essential for the job)

English essential

Information on language requirements

ESSENTIAL KNOWLEDGE
● Extensive actuarial knowledge of the Life insurance industry and applicable regulatory requirements.
● Knowledge of Canadian regulatory capital requirements as they impact life insurance liabilities.
● Knowledge of international financial standards as they pertain to Canadian insurers.

ESSENTIAL COMPETENCIES
● Professional Judgment
● Collaboration
● Building Business Relationships

The following may be applied / assessed at a later date (may be needed for the job)

ASSET EDUCATION
● An MBA, CERA, CA, CGA, CMA, CFA, or other relevant designation focused on risk management.

Degree equivalency

ASSET EXPERIENCE
● Experience leading or participating in technical committees of the actuarial profession or the life industry.
● Management level experience.
● Leadership or participation in actuarial committees of the Canadian Institute of Actuaries, Society of Actuaries or equivalent.

ASSET KNOWLEDGE
● Leading edge knowledge of actuarial and finance models used by the insurance industry and their application in implementing Canadian actuarial standards.
● Knowledge of Canadian regulatory capital requirements as they pertain to the use of internal models.

ASSET COMPETENCIES
● Results Orientation
● Critical Thinking
● Excellent written communication skills
● Excellent oral communication skills

ORGANIZATIONAL NEEDS
● In order to meet the organization’s employment equity objectives in support of a diversified workforce, ‘right fit’ selection for this position may be made from among qualified candidates who self-declare as being Persons with a disability or Aboriginal peoples.

OPERATIONAL REQUIREMENTS
● Willingness to travel both domestically and internationally.

Conditions of employment

Reliability Status security clearance

Other information

For this selection process, it is our intention to communicate with candidates via email. Candidates must include a valid email address in their application. It is the candidate’s responsibility to ensure accurate information is provided and updated as required. As a result you must update your personal information on your Public Service Resourcing System profile if it changes.

Applicants must clearly demonstrate using concrete examples, how they meet the education and experience factors listed under the essential qualifications, as well as any of the asset qualifications that are applicable. Applicants must provide concrete examples that illustrate how they meet the requirement, as well as time lines of when this experience was gained (please indicate month and year).

Internal indeterminate employees of OSFI at the same group and level or equivalent may be considered for deployment or assignment before considering applicants in the advertised appointment process.

Reference checks may be conducted.

Your application may be used to assess written communication.

OSFI is a separate agency with its own classification and compensation system. OSFI's staffing is subject to the Public Service Employment Act (PSEA).

The client organization will accept applications on-line only. All job applications must therefore be submitted through the Public Service Resourcing System. To submit an application on-line, please select the button 'Apply online' below. Persons with disabilities preventing them from applying on-line are asked to contact 1-800-645-5605.

Applicants with disabilities: If you request special accommodation at any stage in the selection process, including technical aid to ensure an equitable assessment of your qualifications, please inform us by sending an e-mail to the following address .

The Public Service of Canada is committed to building a skilled, diverse workforce reflective of Canadian society. As a result, it promotes employment equity and encourages candidates to indicate voluntarily on their application if they are a woman, an Aboriginal person, a person with a disability or a member of a visible minority group.

The Public Service of Canada is also committed to developing inclusive, barrier-free selection processes and work environments. If contacted in relation to a job opportunity or testing, you should advise the Public Service Commission or the departmental official in a timely fashion of the accommodation measures which must be taken to enable you to be assessed in a fair and equitable manner. Information received relating to accommodation measures will be addressed confidentially.

Preference

Preference will be given to veterans and to Canadian citizens, in that order.

Information on the preference to veterans

We thank all those who apply. Only those selected for further consideration will be contacted.