Actuarial Advisor (RE-06* See Important Messages) or Senior Actuary (RE-07)

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

LOCATION: This is a Toronto-based position with the possibility that the successful candidate may be able to work remotely from one of the OSFI offices across Canada (Montreal, Ottawa, Vancouver); the one closest to their place of residence. Working remotely will require travel to Toronto.

* NOTE: If a candidate is qualified and appointed at the RE-06 level and has obtained their Fellowship of the Canadian Institute of Actuaries (FCIA) the title of the position is Actuary.

NOTE: The classification level will be determined based on the depth and breadth of the successful candidate's qualifications, as well as their assessment results.

Duties

The (RE-06) Actuarial Advisor or (RE-07) Senior Actuary will provide actuarial advice to teams in OSFI’s Regulation Sector and Insurance Supervision Sector with respect to the actuarial function and the associated risk management activities of Property and Casualty (P&C) insurance companies, including actuarial valuation, financial statement presentation and capital requirements and lead or participate in benchmarking and related projects. The (RE-06) Actuarial Advisor or (RE-07) Senior Actuary will also provide technical actuarial advice in developing assessment criteria, which will be used to review future applications for the use of internal models to determine regulatory capital.

Work environment

Who we are
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 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 wellbeing, 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.

Who you are
You are a professional, capable of enhancing and contributing to the division’s efforts to influence P&C insurance practices, including Canadian and international standard setting that affects actuarial and risk management practices.

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 with specialization in actuarial science, business, commerce, economics, finance, mathematics, accounting or other relevant field OR an acceptable combination of relevant professional industry experience and education.
• RE-06 ONLY: Associateship of the Canadian Institute of Actuaries, the Casualty Actuarial Society or equivalent designation.
• RE-07 ONLY: Fellowship of the Canadian Institute of Actuaries or equivalent designation.

Degree equivalency

ESSENTIAL EXPERIENCE
• Recent and significant experience in the P&C insurance industry.
• Significant actuarial experience in the valuation of policy liabilities, stress testing, or in critiquing risk management practices in P&C insurance companies.
• Experience building/improving complex actuarial and/or statistical models.

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

ASSET EXPERIENCE
You may be required to meet a combination of any of these asset experience criteria:
• Experience leading or participating in technical committees of the actuarial profession.
• Experience in risk and economic capital modelling.
• Experience in catastrophe modelling.

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

Bilingual - Imperative (CBC/CBC)
Bilingual - Imperative (CBC/CBC)
Reading: C (advanced)
Writing: B (intermediate)
Oral: C (advanced)

Information on language requirements

Second Language Writing Skills Self-Assessment
In order to help you decide if you should apply to a bilingual position, an optional self-assessment of your writing skills in your second official language is available for you to take before completing your application.

For more information, please consult:
Unsupervised Internet Test of Second Language Writing Skills

ESSENTIAL KNOWLEDGE
• Extensive actuarial knowledge of P&C insurance industry and applicable regulatory requirements.
• Knowledge of Canadian Actuarial Standard Board’s Standards of Practice applicable to P&C insurers.

ESSENTIAL COMPETENCIES
• Professional Judgment
• Innovation
• Change Leadership
• Working as a team
• 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
• A graduate degree from a post-secondary institution.
• An MBA, CERA, CA, CGA, CMA, CFA, or other relevant designation focused on risk management.

Degree equivalency

ASSET KNOWLEDGE
• Extensive knowledge of international financial standard 17 as it pertains to Canadian insurers.
• Extensive knowledge of Canadian Institute Actuaries standards.
• Extensive knowledge of actuarial and finance models used by the insurance industry and applicable regulatory requirements.

ASSET COMPETENCIES
• Results Orientation
• Critical Thinking

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
• Travel may be required.

Conditions of employment

Reliability Status security clearance

In our current telework environment, the ability to work remotely from home within Canada 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

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.