Manager, Insurance Supervision Sector

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

As a support to the director for an assigned portfolio of financial institutions, this position is responsible for the day-to-day risk management analysis and direction of a team of professionals providing prudential supervisory activities in accordance with OSFI’s Supervisory Framework. These activities assess the safety and soundness of property and casualty insurance institutions with the primary mission to safeguard policyholders from undue loss. This includes:
- Review and provide timely input into the assigned federally regulated financial institutions' (FRFIs) key risk areas, internal risk management and internal control practices, risk models, etc.;
- Operationalize day-to-day supervisory activities associated with the assigned FRFI (e.g. planning and executing the supervisory strategy; analysing and assessing of the financial condition, risk profile and risk management practices; reviewing and maintaining documentation; writing reports and making presentations to a range of stakeholders, including senior management; following up on all issues reported on;
- Contribute to OSFI insurance-related policy development;
- Providing operational leadership to a small team of professionals in charge of the direct prudential supervision of a portfolio of property and casualty institutions.

Developing, coaching, and leading staff are part of key responsibilities of this position.

The successful candidate will possess varied and solid experience in the financial services industry and an in-depth understanding of the performance indicators and/or regulatory metrics common to the financial industry and techniques used in their measurement and management.

Work environment

The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987 to contribute to the safety and soundness of the Canadian financial system. OSFI supervises and regulates federally registered banks and insurers, trust and loan companies, as well as private pension plans subject to federal oversight.

What OSFI offers
OSFI is a separate agency that offers a competitive salary and eligibility for performance pay annually. People are the foundation of our organization. You will become part of a diverse community that acknowledges that everyone has varied experience and fosters an environment where communication and teamwork amplify our effectiveness.

Working at OSFI offers the following:

Mandate
The work you do at OSFI matters. Your efforts contribute to the safety and soundness of the financial sector. A strong financial sector promotes competition, and benefits all Canadians.

Learning & Development
Our organization understands that ongoing learning and development is critical and necessary, and must evolve with developments in the Financial Sector. Learning and Development is a key component of our Human Capital Strategy.

Community & Culture
We strive to create a working environment that allows employees to work to their fullest potential. We strive to promote employee wellbeing, including a focus on balancing work and personal needs. Subject to operational requirements, we offer opportunities for flexible working arrangements.

Benefits
As a Federal Government Agency, OSFI offers a number of competitive benefits to its employees, including a Defined Benefit Pension Plan, maternity and parental leave benefits, vacation (4 weeks), personal and family leave days.

Intent of the process

The Office of the Superintendent of Financial Institutions (OSFI) is seeking a highly motivated individual to join its Property and Casualty (P&C) Insurance Supervision Sector.

This selection process may be used to establish a pool of partially qualified and/or qualified candidates which could be used to staff similar positions at the Office of the Superintendent of Financial Institutions.

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)

ESSENTIAL EDUCATION
- A degree* from a post-secondary institution in commerce, business administration, finance, economics, accounting, actuarial science, mathematics, or another speciality relevant to the position.
OR
- Any other degree* from a post-secondary institution with a membership in a Canadian professional association of actuaries, accountants or CFA charterholders.

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

Degree equivalency

ESSENTIAL EXPERIENCE
- Recent* and considerable** experience in the following:

• Conducting research and analysis of financial or non-financial risks (e.g. credit, market, liquidity, operational, insurance, regulatory compliance, strategic, actuarial) affecting the financial sector (e.g. banks, insurance companies) and making recommendations in regards to those risks;
OR
• Developing or interpreting risk management policies/procedures, prudential guidance, regulatory expectations or public policy related to the financial sector.

- Experience in leading, managing or developing and coaching staff.

* Recent: Experience acquired within the last five (5) years.
** Considerable: A depth of experience accumulated over a period of at least three (3) years.

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

ASSET EDUCATION
- A graduate (Master’s or Doctorate) degree* from a post-secondary institution in commerce, business administration, finance, economics, accounting, actuarial science, mathematics, or another speciality relevant to the position.
OR
- Professional designation in a field relevant to the duties of the position, for example: CPA (CA, CGA, CMA), CFA, CRM, CIA, FRM, FCAS/ACAS, FCIA/ACIA, or PRM.

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

Degree equivalency

ASSET EXPERIENCE
- Experience identifying key risk areas and assessing risk management and oversight practices in P&C insurers.
- Experience in a P&C insurance line of business or in one of the following areas in a P&C insurance company: Financial Analysis; Accounting; Underwriting; Actuarial (pricing or valuation); Claims; Risk Management; or Strategic Analysis and Planning.
- Experience in actuarial consulting related to P&C insurance.
- Experience in audit of P&C insurance or reinsurance companies.
- Experience carrying out the prudential regulation or supervision of financial institutions.

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

Bilingual - Imperative (CBC/CBC)

Information on language requirements

ESSENTIAL KNOWLEDGE
- Knowledge of current and emerging key risks in the P&C insurance industry.
- Knowledge of governance and risk management practices currently employed in financial institutions.
- Knowledge of the Canadian regulatory framework for financial institutions.

ESSSENTIAL COMPETENCIES
- Developing others
- Professional judgment
- Results orientation
- Impact and Influence
- Working as a team

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

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

ASSET KNOWLEDGE
- Knowledge of new regulatory requirements and international developments related to P&C insurers.

ORGANIZATIONAL NEEDS
In order to meet OSFI’s Employment Equity objectives in support of a representative workforce, “right fit” selection for this position may be made from among qualified candidates who self-declare as “aboriginal” and/or “person with a disability”.

OPERATIONAL REQUIREMENTS
- Willingness and ability to travel.

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 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. Failure to provide the above information in the format required may result in your application being rejected from the process.

By providing the required information in the suggested format, you will ensure that the assessors are in a position to assess the depth, complexity and scope of your experience.

A written examination will be administered.

An interview will be administered.

Reference checks may be sought.

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

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 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.