Director, Various in Capital 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

Under the direction of their respective Managing Directors, and in collaboration with Supervision and Risk Support Sectors and other divisions in the Regulation Sector, the Directors of the Capital Definition and Precedents, Life Insurance Capital, Bank Capital – Market and Liquidity Risks, and Property and Casualty Insurance Capital teams (together referred to as Directors) are accountable for directing the analysis, formulation, interpretation and promotion of regulatory capital rules, policies and guidelines. In doing so, each Director defines deliverables and timelines and manages and leads a team that is responsible for the analysis of emerging domestic and global risks that necessitate changing capital, liquidity and other related requirements for federally regulated financial institutions.

The Directors provide leadership, direction and expertise to cross-sector teams within OSFI and industry advisory/consultation groups established by OSFI. They are also responsible for the ongoing training of OSFI staff in the application of capital, liquidity and other related requirements for financial institutions.

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

Intent of the process

This selection process will be used to fill four indeterminate Bilingual Imperative CBC/CBC positions 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: 4

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 economics, commerce, business or public administration, finance, accounting, mathematics, actuarial science, public policy or another discipline related to the position.

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

Degree equivalency

EXPERIENCE
- Experience in making presentations to senior management**
- Experience leading, developing, or coaching staff
- Significant*** and recent**** experience in developing recommendations and writing reports or briefing notes to senior management regarding issues associated with financial institutions or pension plans.

** Depending on the organizational structure, senior management could mean such levels of management as the executive group, director level and above, etc.
*** Significant is defined as the breadth and depth of experience that would normally be acquired over at least five (5) years, where the experience was part of the regular work duties of the candidate.
**** Recent is defined as “within the last seven (7) years”.

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 another discipline related to the position.
- Professional designation: CFA
- Professional designation: CPA
- Professional designation: FCIA
- Professional designation: FSA
- Professional designation: FCAS
- Professional designation: FRM

Degree equivalency

ASSET EXPERIENCE
- Experience with 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, treasury, compliance, trading.

For the Director, Capital Definition and Precedents
- Significant*** and recent**** experience in regulating, identifying, or managing risks of a deposit-taking institution or insurance company within a regulatory body, regulated financial institution, or a consultancy firm.
- Experience working directly with OSFI’s capital adequacy requirements in respect of a financial institution’s qualifying regulatory capital (as they pertain to each industry) obtained through regulatory, industry, or consulting work.

For the Director, Life Insurance
- Significant*** and recent**** experience in identifying and managing risks of a life insurance company with a life insurance company or consultancy firm.
- 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

For the Director, Bank Capital – Market and Liquidity Risks:
- Significant*** and recent**** experience in identifying and managing market risk or liquidity risk of a financial institution within a regulatory body, regulated financial institution, or a consultancy firm.
- Experience working with OSFI’s market risk capital adequacy requirements or with OSFI’s liquidity adequacy requirements obtained through regulatory, industry, or consulting work.

For the Director, P&C Insurance:
- Significant*** and recent**** experience in identifying and managing risks of a P&C insurance company with a P&C insurance company or consultancy firm.
- Experience working directly with OSFI’s P&C Insurance Minimum Capital Test for Federally Regulated Property and Casualty Insurance Companies, obtained through insurance, consulting, or regulatory work.

*** Significant is defined as the breadth and depth of experience that would normally be acquired over at least five (5) years, where the experience was part of the regular work duties of the candidate.
**** Recent is defined as “within the last seven (7) years”.

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 domestic and international regulatory/standards developments (e.g. International Financial Reporting Standards, International Capital Standards, Basel III framework) that relate to financial institutions.
- Knowledge of current and emerging trends and risks as they relate to the financial services industry, both domestic and global.
- Knowledge of policy tools to assess, measure and control risks undertaken by financial institutions.

COMPETENCIES
- Professional judgement
- Developing others
- Critical thinking
- Change leadership

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)

ASSET KNOWLEDGE
For the Director, Life Insurance and the Director, P&C Insurance:
- Knowledge of IFRS 17: Insurance Contracts

In addition, for the Director, Life Insurance:
- Knowledge of the life insurance industry, including life insurance products, their risks, and applicable regulatory requirements.
- Knowledge of OSFI’s life insurance capital framework (e.g. guidance, instructions and forms).

In addition, for the Director, P&C Insurance:
- Knowledge of the P&C insurance industry, including P&C insurance products, their risks, and applicable regulatory requirements.
- Knowledge of OSFI’s P&C insurance capital framework (e.g. guidance, instructions and forms).

For the Director, Capital Definition and Precedents:
- Knowledge of regulatory capital and financial market instruments, including their key characteristics, risks and issues.
- Knowledge of OSFI’s capital guidance and standards in respect of a financial institutions’ qualifying regulatory capital.

For the Director, Bank Capital – Market and Liquidity Risks:
- Knowledge of OSFI’s prudential guidance for financial institutions in regards to market risk or liquidity risk.
- Knowledge of market risk or liquidity risk, including risk management processes related to market risk or liquidity risk.
- Knowledge of data analysis in risk measurement of market risk or liquidity risk.

ASSET COMPETENCIES
- Innovation
- Building business relationships
- Working as a team

OPERATIONAL REQUIREMENTS
- Ability and willingness to work overtime occasionally
- Ability and willingness to travel within Canada and abroad

Conditions of employment

- Reliability Status security clearance
- Ability and willingness to travel within Canada and abroad
- 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

In order for your application to be considered, you must submit a completed questionnaire. You will be required to demonstrate how you meet the education and experience criteria (essential and asset) for the initial screening, in answering online screening questions. It is NOT sufficient to only state that the qualifications are met or to provide a listing of current or past responsibilities. Rather, you must clearly demonstrate HOW, WHEN and WHERE the qualification was met through substantiation by examples. Information on your described education and experience provided in the screening questions should be supported by your résumé. Please note that your ability to communicate effectively in writing will be assessed throughout the application. Therefore, we recommend you use complete sentences where appropriate. Failure to provide the above information in the format required may result in your application being rejected from the process.

A written examination will be administered. Please note that the written examinations will take place during the period between: September 17 to September 26, 2019.

An interview will be administered. Please note that interviews will take place during the period between: October 2 to October 25, 2019.

Reference checks may be sought.

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.).

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, operational requirements, and organizational needs may be applied at the time of staffing. 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 Public Service Resourcing System (PSRS). Do not fax or mail hard copy documents as these will not be accepted. To submit an application online, please click on the button "apply now".

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.