Reference Number
SIF21J-018925-000499
Selection Process Number
21/22-SIF-EA-7462
Organization
Office of the Superintendent of Financial Institutions Canada
Year
2021-2022
Days Open
35
Classification
REREX07
City
MULTIPLE
Type
External
Total
25
Employment Equity
16
(64%)
Screened out
0
(0%)
Screened in
23
(92%)
Employment Equity 64% 16
Screened Out 0% 0
Screened In 92% 23
Women 52% 13
Visible minority 40% 10
Indigenous 0% 0
People with disabilities 0% 0
English 80% 20
French 20% 5
Citizens 88% 22
Permanent Residents 0% 0
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.
VACCINATION REQUIREMENT:
On October 6, 2021, the Government of Canada announced details of its plans to require vaccination across the federal public service:
• https://www.canada.ca/en/treasury-board-secretariat/news/2021/10/backgrounder-covid-19-vaccine-requirement-for-the-federal-workforce.html
As per OSFI’s Policy on COVID-19 Vaccination, employees must attest to their vaccination status. The requirement for employees to be fully vaccinated applies whether they are teleworking, working remotely or working on-site. This is a condition of employment and it applies to indeterminate (permanent), determinate (term), casual, and student hiring. Should you reach the point in the selection process where it is necessary to verify terms and conditions of employment, then the hiring manager or a human resources representative will contact you in order to complete an attestation.
LOCATION:
This position is located in Toronto, however, the successful candidate may work from the Toronto office, Montréal office, or Ottawa office.
As a result of the global pandemic, OSFI employees are currently working from home. Should the current telework environment no longer apply, and contingent on the operating model adopted by OSFI, you may be required to report into and work onsite from one of the following offices: Toronto, Ottawa or Montreal. As our telework arrangements are evolving, we encourage you to apply.
EMPLOYMENT EQUITY:
Achieving a representative and diverse workforce has been identified as an organizational need for OSFI and may be applied at any time during 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. As such, first consideration for an appointment may be given to candidates who self-declare as belonging to one of the four designated employment equity groups (Persons with a disability, Aboriginal people, Members of a Visible Minority, or Women).
In order to self-declare, please ensure to check off the appropriate box within the online application under the Employment Equity section. We encourage you to consult theses links to learn more about employment equity and self-declaration:
• https://www.canada.ca/en/public-service-commission/jobs/services/gc-jobs/employment-equity.html
• https://www.canada.ca/en/public-service-commission/jobs/services/gc-jobs/applying-government-canada-jobs-how-to-apply.html#EE
OSFI’s Actuarial Division is seeking a highly motivated individual to join their team in the role of Director. The Director manages and directs a team of actuarial staff in the areas of property and casualty insurance and/or life insurance; directs the process of assessing the actuarial function in a portfolio of insurers in support of Supervision and in accordance with OSFI’s Supervisory Framework. The Director also provides technical actuarial support to Lead Supervisors across the Insurance Supervision Sector and to Regulation Sectors, as requested.
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. 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 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 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 collaborative, agile and you lead with transparency and integrity.
The immediate intent is to staff one Bilingual - Imperative (CBC/CBC) position.
A pool of qualified or partially qualified candidates may be created to staff similar or identical positions with various linguistic profiles and requirements, security profiles and/or various tenures within the Office of the Superintendent of Financial Institutions, which may vary according to the position being staffed.
Positions to be filled: 1
Your résumé.
ESSENTIAL EDUCATION
• A degree from a post-secondary institution with specialization in actuarial science, mathematics, business, commerce, economics, finance, accounting or other relevant field OR an acceptable combination of relevant professional industry experience and education.
• Fellowship in the Canadian Institute of Actuaries.
ESSENTIAL EXPERIENCE
• Recent and significant experience reviewing or preparing reports in one of the following areas within the financial services industry*: risk management, underwriting, actuarial valuation and/or pricing, asset-liability management and financial planning.
• Recent and significant experience communicating to senior management complex risk management issues affecting multiple stakeholders.
• Recent and significant experience in leading, developing, and/or coaching staff.
*Financial services industry includes experience working in a financial institution, including banks, insurance companies, 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.
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.
ASSET EXPERIENCE
You may be required to meet a combination of any of these asset experience criteria:
• 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 leading or participating in technical committees of the actuarial profession.
• Experience in pricing, valuations or risk management of segregated funds or participating insurance products.
• Experience managing multiple projects.
• Experience working in two or more of the following industries:
- Life Insurance Industry
- Property and casualty insurance industry
- Mortgage insurance industries.
Various language requirements
The immediate intent is to staff one Bilingual - Imperative (CBC/CBC) position.
Bilingual - Imperative (CBC/CBC)
English Essential
Reading: C (advanced)
Writing: B (intermediate)
Oral: C (advanced)
Information on language requirements
ESSENTIAL KNOWLEDGE
• Knowledge of emerging risks and current actuarial practices.
• Knowledge of the Canadian Institute of Actuaries Standards of Practice as it applies to life insurance, mortgage insurance or property and casualty insurance.
• Knowledge of International Financial Reporting Standard 17.
ESSENTIAL COMPETENCIES
• 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 oral communication skills
• Excellent written communication skills
ASSET KNOWLEDGE
• Knowledge of one or more of the following capital frameworks:
- Life Insurance Capital Adequacy Test (LICAT)
- Mortgage Insurer Capital Adequacy Test (MICAT)
- Minimum Capital Test (MCT)
• Extensive knowledge of the legislative and regulatory framework applicable to federally regulated financial institutions.
• Knowledge of OSFI’s Supervisory Framework.
ASSET COMPETENCIES
• Critical Thinking
• Change Leadership
• Developing Others
ORGANIZATIONAL NEEDS
OSFI is committed to having a skilled and diverse workforce representative of the Canadian population. In order to meet our employment equity objectives, selection for this position may be made from among qualified candidates who self-declare as belonging to one of the following Employment Equity groups: Persons with a disability, Aboriginal people, Members of a Visible Minority, or Women. OSFI is committed to diversity and inclusion and we strongly encourage candidates to self-declare if they belong to one of these designated employment equity groups.
OPERATIONAL REQUIREMENTS
Willingness to travel.
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.
• Agreement to be deployed into another REX position within OSFI at the same level.
• All employees of the Office of the Superintendent of Financial Institutions (OSFI) are required to be fully vaccinated against COVID-19 and attest to their vaccination status unless accommodated based on a medical contraindication, religion, or another prohibited ground for discrimination as defined under the Canadian Human Rights Act.
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
OSFI is a separate agency with its own classification and compensation system. OSFI's staffing is subject to the Public Service Employment Act (PSEA).
Internal employees of OSFI at the same group and level may be considered and offered a deployment or assignment before considering other applicants.
An assignment/secondment or an acting appointment requires approval of your supervisor.
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.
Note that you should be ready to provide proof of your education credentials if requested as part of the staffing process.
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.
ASSESSMENT:
Your application may be used to assess written communication.
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.
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).
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.
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 will be given to veterans first and then to Canadian citizens and permanent residents, 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.