Director, Life Insurance Capital

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 specialized accommodation. All information received in relation to accommodation will be kept confidential.

Assessment accommodation

Duties

Under the direction of the Managing Director, in support of Supervision and Risk Support Sectors, and other divisions in Regulation, the Director, Life Insurance Capital is accountable for directing the analysis, formulation, interpretation and promotion of regulatory capital rules, policies and guidelines. In doing so, the Director, Life Insurance Capital manages and leads a team that is responsible for the analysis of emerging domestic and global risks that necessitate changing capital requirements for federally regulated life insurers.

The Director, Life Insurance Capital provides leadership, direction and expertise to cross-sector teams within OSFI and industry advisory/consultation groups established by OSFI and is also responsible for the ongoing training of OSFI staff in the application of capital requirements for life insurers.

The Director and/or the Director’s staff also represent OSFI on international working groups, committees or task forces to discuss and present OSFI’s views pertaining to principles and standards relating to varied prudential issues affecting the insurance sector.

Intent of the process

This selection process will be used to fill one indeterminate English Essential REX-07 position per above and may be used to establish a pool of qualified or partially qualified candidates, which could be used to staff similar or identical positions with various linguistic profiles and requirements, various security profiles and various tenures.

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 post-secondary institution in commerce, accounting, business, actuarial science, mathematics, or finance.
- Professional designation such as CFA, CA, CGA, CMA, FSA, FCIA

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

Degree equivalency

EXPERIENCE:
- Significant** and recent*** experience in all of the following:
Developing recommendations and writing reports or briefing notes to senior management**** regarding issues associated with the life insurance industry
A broad range of various and complex related activities including, for example, financial analysis, risk management, underwriting, actuarial valuation and/or pricing, asset-liability management, strategic and financial planning;
Identifying and managing risks of a life insurance company with a life insurance company or consultancy firm.

- Experience in making presentations to senior management****
- Experience leading, developing, and coaching staff
- Experience in working with a wide range of stakeholders and in representing the positions of an organization

** Significant is defined as the breadth and depth of experience that would normally be acquired within seven (7) years, where the experience was part of the regular work duties of the candidate.
*** Recent is defined as “within the last ten (10) years”.
**** Senior Management: Depending on the organizational structure, senior management could mean such levels of management as the executive group, director level and above, etc.

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

ASSET EDUCATION:
- Graduation with a Master’s degree from a recognized post-secondary institution with an acceptable specialization in economics, commerce, business or public administration, finance, accounting, mathematics, actuarial science, public policy or a discipline related to the position.

Degree equivalency

ASSET EXPERIENCE:
- Experience working directly with OSFI’s Life Insurance Capital Adequacy Test, obtained through insurance, consulting, or regulatory work.
- Experience working with segregated fund guarantees obtained through insurance, consulting or regulatory work

ASSET KNOWLEDGE:
-Knowledge of the International Association of Insurance Supervisors (IAIS) global Insurance Capital Standard (ICS).

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

English essential

Information on language requirements

KNOWLEDGE:
- Extensive knowledge of the life insurance industry, including life insurance products and applicable regulatory requirements.
- Extensive knowledge of OSFI’s capital framework (e.g. guidelines, instructions and forms) applicable to life insurers.
- Extensive knowledge of international developments, particularly as they relate to accounting (e.g. IFRS 17: Insurance Contracts).

COMPETENCIES:
- Professional judgement
- Developing others
- Critical thinking
- Team leadership

ABILTIES:
- 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)

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 and ability to work overtime occasionally

Conditions of employment

CONDITIONS OF EMPLOYMENT:
- Security – Reliability Status
- Ability and willingness to travel within Canada and abroad

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 designated groups when you apply.

Information on employment equity

A written examination will be administered.

An interview will be administered.

Please note that OSFI has offices located in Ottawa, Toronto, Montreal, and Vancouver. If you are screened in, you may be required to travel to one of these locations to complete assessment (exam, interview, etc.).

Reference checks will 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: .

As a Separate Agency, the Office of the Superintendent of Financial Institutions (OSFI) appoints employees in accordance with the Public Service Employment Act (PSEA). OSFI is named in Schedule V of the Financial Administration Act (FAA) 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, with the exception of a job located in Nunavut, where Nunavut Inuit will be appointed first.

Information on the preference to veterans

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