Principal Analyst (RE-05), Property and Casualty 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.

NOTE: If you have applied to the Principal Analyst (RE-05), Property and Casualty Insurance Group reference number: SIF20J-018925-000335 and selection process number: 19/20-SIF-EA-6312, please note that your previous results may be applied to this process, as the assessment tools have not changed.

Duties

What You Will Be Doing:
The Property & Casualty Insurance Group (PCG) is looking for highly motivated individual to join the Toronto Office in the position of Principal Analyst. The Principal Analyst is involved in the analysis and assessment of the risk profile and risk management practices of federally regulated property and casualty insurance institutions. The candidate’s accountabilities may include:

• Interacting with Senior Management, Board of Directors and other key stakeholders at Federally Regulated Financial Institutions (FRFIs).
• Assessing the inherent risks and determining factors that drive the risk profile at FRFIs.
• Ongoing monitoring of FRFIs including analysing regulatory returns and other information, with an emphasis on capital strength and emerging risks.
• Leading assessments/reviews of significant activities or control functions at FRFIs.
• Working with OSFI’s Risk Support Sector, including specialists from the Actuarial Division, Credit Risk Division, Operational Risk Division, Model Risk Division, Risk Surveillance and Sector Oversight Division, Culture and Conduct Risk Division, and Market and Liquidity Risk Division.
• Working with external supervisory partners (National and International).
• Identifying best practices and emerging trends.

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 property and casualty insurance industry and risk management perspective.
• You are keenly interested in contributing your expertise to promote a safer financial system.
• You have sound knowledge of the current and emerging risks in the property and casualty insurance 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.

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

Degree equivalency

ESSENTIAL EXPERIENCE
• Recent and significant property & casualty insurance industry experience relating to the business activities in one of the following areas: compliance or risk management practices, management of business lines, reinsurance, financial analysis, audit, underwriting, actuarial and claims OR recent and significant supervisory/regulatory experience in the property & casualty insurance industry.

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 post-graduate degree.
• A CPA professional designation.
• A CFA professional designation.
• A relevant professional designation.
• Recognized advanced training relevant to the business activities of the property & casualty industry.

Degree equivalency

ASSET EXPERIENCE
You may be required to meet a combination of any of these asset experience criteria:
• Experience in leading/managing/coaching teams of people.
• Experience in financial data analytics and interpreting industry results in the property and casualty insurance industry.
• Experience in project management.
• Experience in preparing reports and presenting information to senior management
• Experience using statistical tools and software applications for data analysis in the property and casualty insurance industry.

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

English essential

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 performance indicators in the P&C insurance sector.
• Knowledge of the regulatory environment for the Canadian financial services industry.

ESSENTIAL COMPETENCIES
• Professional Judgment
• Collaboration
• Critical Thinking
• Results Orientation
• Excellent oral communication skills
• Excellent written communication skills

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

ASSET KNOWLEDGE
• Comprehensive understanding of OSFI’s Supervisory Framework.

ASSET COMPETENCIES
• Building Business Relationships
• Innovation
• Working as a team
• Developing myself

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

Some travel may be required.

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.

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.