Actuarial Consultant, Private Pension Plans Division

Important messages

We are committed to providing an inclusive and barrier-free work environment, starting with the hiring process. If you need to be accommodated during any phase of the evaluation process, please use the Contact information below to request special accommodation. All information received in relation to accommodation will be kept confidential.

Information on accommodation for persons with disabilities

Duties

The Actuarial Consultant will be part of the Private Pension Plans Division (PPPD) within the Office of the Superintendent of Financial Institutions (OSFI) whose mandate is to protect pension plan members and other beneficiaries by developing guidance on risk management and mitigation, assessing whether private pension plans are meeting their funding requirements and managing risks effectively, and intervening promptly when corrective actions need to be taken.

The Actuarial Consultant will be expected to:
- Provide subject matter expertise on pension plans and pension legislation;
- Identify problems and emerging issues and consult with internal and external stakeholders to ensure that sound risk assessments and recommendations are made;
- Make decisions and recommendations that have an effect on plan members and other beneficiaries, employers, and plan administrators;
- Review actuarial reports, including those intended to support an application for the authorization of a transaction by the Superintendent, to ensure compliance with OSFI expectations;
- Perform estimates of pension plans’ financial positions to assist with supervisory work;
- Review the technical aspects of guidance and research papers from the Canadian Institute of Actuaries (CIA) and other professional associations, and keep PPPD informed of their impact;
- Provide technical actuarial advice on policy-related initiatives and changes to regulations; and
- Support and execute special projects related to the responsibilities of the PPPD.

Intent of the process

The immediate need is to staff one position with a language requirement of bilingual imperative CBC/CBC on an indeterminate basis.

A pool of qualified or partially qualified candidates may be created to staff similar positions with various tenures (indeterminate, term, acting, etc.), linguistic requirements (bilingual imperative, bilingual non-imperative, English or French essential, etc.), linguistic profiles (CBC/CBC, BBB/BBB, etc.) and/or security requirements (reliability, secret, etc.) within OSFI.

Positions to be filled: 1

Information you must provide

Your résumé.

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

EDUCATION
- Graduation with a degree* from a recognized university with an acceptable specialization in accounting, actuarial science, business administration, economics, finance, mathematics, statistics or similar quantitative discipline.

* The term “degree” refers to a bachelor or a higher level degree, as established by educational authorities.

Degree equivalency

EXPERIENCE
- Experience in writing correspondence, reports, or briefing notes regarding issues associated with the financial sector, developing options, and making recommendations to senior management*
- Recent** and significant*** experience conducting research and analysis to provide actuarial advice related to issues associated with the financial sector

* Depending on the organizational structure, “senior management” could mean such levels of management as the executive group, director level and above, etc.
** Recent is defined as within the last five (5) years.
*** Significant will be evaluated in terms of the amount, complexity and diversity of work handled which would normally be acquired over a period of at least three (3) years and would demonstrate increasing responsibility and competencies.

If you possess any of the following, your application must also clearly explain how you meet it (other qualifications)

EDUCATION
- Graduation with a graduate degree* from a recognized university with an acceptable specialization in accounting, actuarial science, business administration, economics, finance, mathematics, statistics or similar quantitative discipline
- Professional designation in a field relevant to the duties of the position such as ACIA, ASA, FCIA, FSA, CFA or CERA

* The term “graduate degree” refers to a master’s or a higher level degree, as established by educational authorities.

Degree equivalency

EXPERIENCE
- Recent* and significant** experience in supervising, regulating, or administering registered pension plans***
- Recent* and significant** experience in developing and managing actuarial valuation models for registered pension plans***
- Recent* and significant** experience in developing assumptions used in actuarial reports for registered pension plans***
- Recent* and significant** experience conducting actuarial valuations and providing cost estimates for registered pension plans***
- Experience in working with pension investments
- Experience in developing regulatory policy and guidance or providing advice and interpretation of legislation to stakeholders

* Recent is defined as within the last five (5) years.
** Significant will be evaluated in terms of the amount, complexity and diversity of work handled which would normally be acquired over a period of at least three (3) years and would demonstrate increasing responsibility and competencies.
*** A registered pension plan is a plan that is registered under the Pension Benefits Standards Act, 1985 or subject to the Public Pensions Reporting Act, or a similar law of a province, and does not include registered retirement savings plans.

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

Bilingual - Imperative (CBC/CBC)

Information on language requirements

KNOWLEDGE
- Knowledge of significant issues facing Canadian pension plans
- Knowledge of OSFI’s Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans
- Knowledge of the General Standards of Practice of the CIA

COMPETENCIES
- Critical thinking
- Results orientation
- Impact and influence
- Service orientation

ABILITIES
- Ability to communicate effectively in writing
- Ability to communicate effectively verbally

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

KNOWLEDGE
- Knowledge of the Pension Benefits Standards Act, 1985
- Knowledge of the Pension Benefits Standards Regulations, 1985
- Knowledge of the Directives of the Superintendent Pursuant to the Pension Benefits Standards Act, 1985
- Knowledge of the Standards of Practice and Educational Notes of the CIA applicable to pension plans

OPERATIONAL REQUIREMENTS
- Ability and willingness to travel
- Ability and willingness to work overtime

Conditions of employment

Reliability Status security clearance

Other information

The Public Service of Canada is committed to building a skilled and diverse workforce that reflects the Canadians we serve. We promote employment equity and encourage you to indicate if you belong to one of the targeted groups when you apply.

Information on employment equity

A written examination may be administered.
An interview may be administered.

Reference checks may be sought.

The ability to communicate effectively in writing will be assessed using the candidate's application, as well as through the evaluation process.

Candidates invited to an interview will be required to bring proof of their education credentials, in the form of a diploma or official transcript (original documents only). Candidates with foreign credentials must provide proof of Canadian equivalency. Consult the Canadian Information Centre for International Credentials for further information at http://www.cicic.ca/.

Candidates must meet all of the essential qualifications to be appointed to a position. A candidate may be appointed to a position even though he/she does not meet any or all of the asset qualifications. However, meeting these criteria is desirable and may be a deciding factor in choosing the person to be appointed.

Depending on the requirements of the position(s) being staffed from this process, for current or future vacancies, any or all of the asset qualifications may be applied at any time during the staffing process, including screening. Candidates may be contacted and assessed against these criteria at any time during this process.

Achieving a representative workforce has been identified as an organizational need and may be applied in this appointment process. If this criterion is used, only those who have indicated that they are members of the specified designated group(s) will be considered.

A top down selection of candidates may be used in the determination of those to be given further consideration in the assessment process.

Persons are entitled to participate in the appointment process in the official language of their choice. Applicants are asked to indicate their preferred official language in their application.

For this selection process, our intention is to communicate with applicants by e-mail (including sending invitations for written tests and interviews). Applicants who apply to this selection process must include in their application a valid e-mail address and make sure this address is functional at all times and accepts messages from unknown users.

All job applications must be submitted through the Government of Canada public service jobs website. Do not email, fax, or mail hard copy documents as these will not be accepted. To submit an application online, please click on the "apply now" button.

If you do not have Internet access in your home or through friends, relatives or neighbours, here are some suggested locations: campus career centers, libraries, community centers, Internet cafés and Services Canada. You may also call 1-800-O-Canada (1-800-622-6232), or TTY 1-800-926-9105, for information on the nearest public Internet access locations.

Persons with a disability preventing them from applying on-line are asked to contact 1-800-645-5605.

Applicants with disabilities: If you require 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: .

OSFI's Ottawa location is downtown with easy access to shopping, restaurants, gyms, financial institutions and more. The building is less than a five minute walk from the Transitway and from the nearest STO stop.

As a Separate Agency, OSFI appoints employees in accordance with the Public Service Employment Act. OSFI is named in Schedule V of the Financial Administration Act and it offers the same pension and benefits plans as the core Federal Public Service. In addition to this, OSFI employees obtain a minimum of 4 weeks of vacation leave per year, earn a competitive salary, and are eligible for an annual performance bonus.

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.