Managing Director (REX-08), Life Insurance Group

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

This position is located in Toronto. As a result of the global pandemic, OSFI employees are currently working from home. Should the current telework environment no longer apply, the successful candidate will be required to report to and work onsite from the Toronto office.

Duties

The Managing Director is responsible for leading a team of analysts to carrying out the supervision of life insurance companies regulated by OSFI. The position is the lead analyst and relationship manager for the activities carried out in assessing the safety and soundness of the assigned financial institution or institutions, identifying unsafe practices, conducting risk assessments and taking direct and early intervention, as appropriate.

The position is responsible for providing high quality research and assessments and managing a team of analysts to fulfil this responsibility. The position will also coordinate and cooperate with specialist risk teams to review various risks, such as, operational, technological and product risks. Leading, developing, and coaching staff is another responsibility of the position.

Collaborating with supervisory teams is an important element of the role to ensure there is general consistency of practices across the supervisory teams in the performance of core supervisory activities.

This position will have an opportunity to influence regulatory policy, where appropriate for identifying potential impacts reflecting their knowledge of the industry and supervised financial institutions.

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 should possess the following attributes:
• You are an individual with a broad financial industry perspective and knowledgeable of the risks and issues faced by the life insurance industry.
• You are keenly interested in contributing your expertise to promote a safer financial system.
• You have sound knowledge of the current and are naturally curious of the emerging risks in the financial services industry.
• You know the techniques used in the measurement and management of current and emerging risks.
• You work well with others.
• Your critical thinking skills help to inform your decision-making.
• You are in support with OSFI’s corporate values which include respect, curiosity and stewardship

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 business, economics, finance, mathematics, science, actuarial science, accounting or a relevant field OR an acceptable combination of education and/or professional industry experience.

Degree equivalency

ESSENTIAL EXPERIENCE
• Recent and significant experience at the senior level working within the life insurance industry in one of the following areas: finance, risk management, internal audit, actuarial, valuation, pricing, asset-liability management, strategic and financial planning or other relevant areas AND/OR significant supervisory/regulatory experience in the life insurance industry at the senior level.
• Significant experience in leading/managing and/or developing/coaching staff.

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

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 in finance, accounting, science, actuarial science, economics, business administration, mathematics, or other relevant area.
• A professional designation (such as: CFA, FCIA, FSA, CPA and/or other relevant professional designations).

Degree equivalency

ASSET EXPERIENCE
You may be required to meet a combination of any of these asset experience criteria:
• Recent and significant experience at the senior level working within the Life insurance industry in two of the following areas: finance, risk management, internal audit, actuarial, valuation, pricing, asset-liability management, strategic and financial planning or other relevant areas AND/OR significant supervisory/regulatory experience in the life insurance industry at the senior level.
• Experience at the senior level working within the Life insurance industry in three of the following areas: finance, risk management, internal audit, actuarial, valuation, pricing, asset-liability management, strategic and financial planning or other relevant areas AND/OR significant supervisory/regulatory experience in the life insurance industry at the senior level.
• 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.
• Experience providing input into tactical or strategic objectives.
• Experience in making presentations to senior management or Board.
• Experience in managing multiple projects.

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

English essential

Information on language requirements

ESSENTIAL KNOWLEDGE
• Extensive knowledge of the domestic life industry including the regulatory environment, organizational structures, business models and products.
• Knowledge of governance and risk management practices currently employed to monitor and control the key risk areas impacting life insurers.
• Knowledge of Domestic and International regulatory requirements affecting life insurers particularly as they relate to accounting, capital and regulatory developments.

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)

ASSET KNOWLEDGE
• Knowledge of the property and casualty insurance industry.
• Knowledge of the mortgage insurance industry.

ASSET COMPETENCIES
• Critical Thinking
• Developing Others
• Results Orientation
• Professional Judgment
• Change Leadership
• Impact and Influence

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

CONDITIONS OF EMPLOYMENT

• Security – Reliability
• 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.
• 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

Assessments may be conducted virtually through email, telephone and/or videoconference. It is the candidate’s 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 without Internet access may also review jobs open to the public through INFOTEL at 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.