Managing Director (REX-08), Market & Liquidity 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 Risk Support Sector (RSS) is seeking to fill the Managing Director position in the Market and Liquidity Risk Division. The Managing Director will lead teams responsible for supervisory risk assessments (of market and liquidity risks), provide consulting advice to Management and Executives within the Risk Support Sector and other sectors, and work collaboratively across OSFI on broader initiatives. The successful candidate will possess varied and solid experience in the financial services industry and an in-depth understanding of current business issues and trends in the environment. Developing, coaching, and leading staff (at all levels, including Executive) is a key responsibility of this position.

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.

Risk Support Sector is a cross-industry function within OSFI that evaluates specific aspects of risk management capability within federally regulated financial institutions (FRFIs). The sector’s horizontal perspective on risk informs the development of supervisory risk assessments and regulatory expectations for Canada.

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 organisation. You will become part of a diverse community that acknowledges 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 Canadian Financial Sector. A strong financial sector promotes competition, and benefits all Canadians.

Learning & Development
Our organisation understands that ongoing learning and development is critical and necessary, and must evolve with developments in the Financial Sector. Learning and Development is a 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 well being, including a focus on balancing work and personal needs. Where available, 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

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: 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 specializing in commerce, accounting, business, finance, actuarial science, computer science, economics , mathematics or related field OR a combination of relevant professional industry experience and education.

Degree equivalency

ESSENTIAL EXPERIENCE
• Recent and significant experience at the senior management level in the financial services industry*, or equivalent experience in one of the following areas: consulting to the financial services sector in respect of capital markets activity, capital markets experience or other relevant risk management experience in a regulatory function, front office trading.
• Significant experience developing, coaching, and training staff.

*Financial services industry includes 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
• In-depth knowledge of evolving business and environmental risk issues as they relate to the Canadian financial services industry, including banks and insurance companies, and in particular to the operation of the capital markets.
• Knowledge of international developments, particularly as they relate to risk management, capital and associated modelling techniques.
• Strong knowledge of governance and the risk management and internal control practices currently employed in trading and treasury activities.

ESSENTIAL COMPETENCIES
Leadership Role Model
• Collaboration: Sharing a community mindset, promoting cohesion and breaking down barriers.
• Agility: Adapting to environmental complexities through innovation.
• Transparency: Cultivating an open and trustworthy culture within the organization.
• Integrity: Stepping up to the obligations of leadership with authenticity.
• Excellent written communication skills
• Excellent oral 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 Asset Education and Asset Experience criteria identified below.

ASSET EDUCATION
• An MBA, CA, CGA, CMA, CFA, or other relevant 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.

• Significant experience in the overall management of a capital markets operation, including both the front office and middle/back offices.
• Experience with investment risk and pensions.
• Experience in strategy development, change management, and partnership building.
• Experience with current risk management techniques used in respect of capital markets and trading activities in financial institutions (deposit-taking and/or insurance).
• Experience developing, coaching, and training executive staff.
• Experience in a second line function, a central support function or multiple lines of business in the financial sector or in financial sector regulation and supervision.”

ASSET KNOWLEDGE
• Knowledge of risk dynamics within the capital markets (specifically the functioning and interdependencies of capital market products).
• Knowledge of complex products and fundamental risk elements.
• Knowledge of derivatives and trading operations.
• Strong knowledge of risk models, stress testing and other assessment techniques, including methods to assess and monitor such models.

ASSET COMPETENCIES
• Impact & Influence
• Developing Myself
• Critical Thinking
• Results Orientation
• Developing Others
• Change leadership
• 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.

Conditions of employment

Reliability Status security clearance

• Agreement to be deployed into another REX position within OSFI at the same level.
• In our current telework environment, the ability to work remotely from home with access to Internet in one’s residence is a condition of employment.

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

Assessments may be conducted virtually through email, telephone and/or videoconference. It is the candidates responsibility to ensure that their computer and mobile equipment is in working condition before starting an assessment.

Internal employees of OSFI at the same group and level may be considered and offered a deployment or assignment before considering other applicants.

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.

The following options may be used at any stage of the selection process in the determination of those to be given further consideration: random selection, top down selection, or meeting any asset qualifications.

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.