Director (REX-07), Model Risk 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 specialized accommodation. All information received in relation to accommodation will be kept confidential.

Assessment accommodation

Duties

The Director positions within the Model Risk Division are responsible for leading a team of quantitative specialists involved in the review of financial institutions’ use and control of risk measurement and analytics. Responsibilities will include directing, overseeing and monitoring the work of the group as well as providing consulting advice on risk measurement, risk analytics, and modelling practice issues to other OSFI divisions, and the executive group. Leading, developing, and coaching staff are key responsibilities of these positions.

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: 2

Information you must provide

Your résumé.

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

ESSENTIAL EDUCATION
● A university degree with specialization in mathematics, statistics, commerce, business administration, finance, accounting, economics, or other relevant specialization OR an acceptable combination of education, experience and/or training.

Degree equivalency

ESSENTIAL EXPERIENCE
● Recent and significant experience in risk measurement, model development or model validation in the financial services industry*.
● Recent and significant experience critiquing risk management practices and identifying key risk areas in financial institutions.
● Experience in leading, developing, coaching, and/or training staff.

* Financial services industry as experience working in a financial institution, including banks, insurance companies, pension funds, wealth management firms, and accounting firms (dealing with audits), as well as government departments that directly deal with the supervision and regulation of these institutions, or other relevant areas.

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

English essential

Information on language requirements

ESSENTIAL KNOWLEDGE
● Knowledge of risk measurement practice in the financial industry, especially with respect to credit risk and market risk and/or counterparty credit risk.
● Knowledge of Basel model approval requirements for institutions (including associated control expectations).

ESSENTIAL COMPETENCIES
● Change Leadership
● Professional Judgement
● Developing Others
● Impact & Influence
● Excellent oral communication skills
● Excellent written communication skills

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

In addition to the Essential Qualifications identified above, please provide details if you possess one or more of the following Education and Experience criteria:

ASSET EDUCATION
● A master’s or Ph.D. degree with specialization in mathematics, statistics, computer science, commerce, business administration, finance, accounting, economics, or other relevant specialization.
● A relevant professional designation.

Degree equivalency

ASSET EXPERIENCE
You may be required to meet one or a combination of any of these asset experience criteria and therefore if you possess it you should provide details in your resume.

● Experience with quantitative methods including statistical analysis and advanced analytics techniques (i.e. artificial intelligence and machine learning) in the financial services industry*
● Experience with economic capital models, stress testing models, treasury models, valuation and pricing models, or other models used for risk measurement and / or management in the financial services industry.
● Experience with project management.

* Financial services industry as experience working in a financial institution, including banks, insurance companies, pension funds, wealth management firms, and accounting firms (dealing with audits), as well as government departments that directly deal with the supervision and regulation of these institutions, or other relevant areas.

ASSET KNOWLEDGE
● Knowledge of complex derivative products or banking products or insurance products and associated modeling practices.
● Knowledge of data science analytic techniques (predictive and prescriptive modeling), machine learning tools and algorithms, artificial intelligence applications, big data platforms or other relevant areas with applications in the financial sector.
● Knowledge of formal research techniques.

ASSET COMPETENCIES
● Results Orientation
● Innovation
● Critical Thinking
● Building Business Relationships
● Working as a Team

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
● Some out-of-town travel may be required.

Conditions of employment

Reliability Status security clearance

Agreement to be deployed into another REX position within OSFI at the same level.

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

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.

RESUMES:
Applicants must clearly demonstrate using sufficient details, how they meet the education and experience factors listed under the essential qualifications, as well as any of the asset qualifications that are applicable, including timelines of when this experience was gained (please indicate month and year). Lack of DETAILS may result in your application being rejected as the Assessment Board may have insufficient information to determine whether you meet the qualifications.

SCREENING QUESTIONS (if applicable):
It is the responsibility of the candidate to clearly outline that they meet each of the screening criteria (i.e. Education and Experience Qualifications, both Essential and Assets) by RESPONDING TO THE SCREENING QUESTIONS IN THE ONLINE APPLICATION. Please note that it is not sufficient to only state that the requirement is met or to provide a listing of current responsibilities, rather the candidate must provide concrete examples that illustrate how they meet the requirement. Your resume will be used to validate the answers provided; therefore, it should also contain sufficient details regarding your education and experience.

REFERENCE CHECKS/PERFORMANCE REVIEWS:
As part of the assessment, reference checks may be sought and candidates may be required to submit their performance reviews. For internal candidates of the Public Service, the Assessment Committee reserves the right to contact the internal candidates’ current manager(s).

Your application may be used to assess written communication.

Management may choose to invoke an asset(s) at any point of the process.
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.

An assignment/secondment or an acting appointment requires approval of your supervisor.

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 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 .

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.