Senior Actuary

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 Ottawa, Ontario. 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 Ottawa office.

Duties

The Office of the Chief Actuary (OCA) has an important mandate in providing a range of actuarial valuation and advisory services to the Government of Canada in relation to a number of social security programs as well as federal public sector pension and benefits plans.

The Senior Actuary provides expertise to the Office of the Chief Actuary (OCA) in specific areas such as social security, pension plans and employee benefits, and acts as a representative of the OCA with national stakeholders and relevant organizations. This position leads the development of sound and professional actuarial advice on plans and programs under the responsibility of the OCA, plans and oversees the preparation of statutory and non-statutory actuarial reports and studies, and leads in the planning of various projects in this regard.

This position will play an important role of supporting the OCA in its journey towards its vision "To be recognized as the independent, impartial and trusted actuarial centre of excellence of the Government of Canada".

Work environment

Who we are:
The Office of the Chief Actuary is an independent unit within the Office of Superintendent of Financial Institutions (OSFI). The 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. It also offers actuarial services to the Government of Canada through the OCA.

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. Through its work, the OCA has an important and independent role to play in the commitments made to Canadians by the federal government to deliver and finance the promised benefits. As some of these promises are long-term, our work also aims at ensuring that decision-makers, Parliamentarians and the public understand the future costs and the risks associated with those promises.

Learning & Development:
Our organization understands that ongoing learning and development is critical and necessary, and must evolve with developments in our environment. Learning and Development is a key component of our Human Capital Strategy. The OCA offers the Development Program for Actuaries and supports the fulfillment of actuarial designations through the Actuarial Study Time Policy.

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, comprehensive health and dental plans that extend into retirement, maternity and parental leave benefits, vacation (4 weeks), personal and family leave days.

Intent of the process

The immediate need is to staff one position with a language requirement of English Essential on an indeterminate basis.

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
- Graduation with a degree* from a university with a specialization in actuarial science, mathematics, business, finance, commerce, economics, accounting or any other specialty related to the position.
- Fellow in the Canadian Institute of Actuaries (CIA).

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

Degree equivalency

ESSENTIAL EXPERIENCE
- Extensive** experience leading the preparation of actuarial valuations and cost estimates.
- Extensive** experience in providing advice and recommendations on the rationales in selecting the assumptions used in actuarial reports.
- Experience developing and influencing future directions by providing actuarial advices and services to various stakeholders.
- Experience in delivering speeches and/or presentations to various audiences.
- Experience in managing and initiating multi-step projects and/or multi-disciplinary projects involving various organizational participants who present different visions and objectives.
- Experience in preparing a wide-range of reports, briefing notes and correspondence for senior government officials and/or senior management.

** Extensive means the depth and breadth of experience that is normally acquired by performing the tasks continuously over a 5-year period.

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

English essential

Information on language requirements

ESSENTIAL KNOWLEDGE
- Expert knowledge of the design, financing and actuarial reporting related to the relevant types of programs such as social security programs, and/or pension plans, and/or employee benefits programs.
- In-depth knowledge of risk sensitive approaches related to stress testing.
- In-depth knowledge of the applicable Actuarial Standards of Practice of the Canadian Institute of Actuaries.
- In-depth knowledge and understanding of policy, economic and demographic trends related to social security programs, and/or public sector pension plans, and/or benefits to public sector employees.

ESSENTIAL COMPETENCIES
- Developing Others
- Working as a team
- Professional Judgment
- Building Business Relationships
- Impact and Influence

ESSENTIAL ABILITIES
- Strong ability to communicate effectively verbally.
- Strong ability to communicate effectively in writing.

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

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
- Ability and willingness to travel on occasion.
- Ability and willingness to work overtime on occasion.

Conditions of employment

- Security: Reliability Status
- 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

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.

A written examination may 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.

Candidates invited to an interview will be required to provide proof of their education credentials, in the form of a diploma or official transcript.

Candidates must meet all of the essential qualifications to be appointed to a position.

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 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.