Actuary / Actuarial Advisor

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

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

POSITION LOCATION:
This position is located in Ottawa, 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, Montréal or Ottawa. Working remotely will require travel to Ottawa. As our telework arrangements are evolving, we encourage you to apply.

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.

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 Actuary or Actuarial Advisor leads the development of sound and professional actuarial advice on plans and programs under the responsibility of the Office of the Chief Actuary, 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.

The Actuary or Actuarial Advisor plays 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".

At hire, the Actuary or Actuarial Advisor is enrolled in the Development Program for Actuaries (DPA). The DPA aims to develop high-calibre individuals. The development takes place through challenging work assignments, job coaching and a combination of formal and informal training, which sharpens the knowledge, skills and competencies of individuals in order for them to move to a higher working level position (RE-07).

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.

The Social Programs section of the OCA is responsible for work related to the Canada Pension Plan (CPP), the Old Age Security (OAS) Program, the Canada Student Financial Assistance (CSFA) Program and the Employment Insurance (EI) Program.

The Public Sector Pension Plans section of the OCA is responsible for work related to all pension arrangements provided by the federal government to its various groups of employees, including the Public Service (PS),the Canadian Armed Forces (CAF), the Royal Canadian Mounted Policy (RCMP), parliamentarians and federally-appointed judges.

The Benefits section of the OCA is responsible for work related to Veterans benefits as well as to group insurance benefit plans such as health, dental, disability and life insurance coverage for employees of the PS, CAF and RCMP.

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 intent of this process is to staff a few RE-06 positions within the OCA on an indeterminate basis. Appointed candidates will be enrolled into the Development Program for Actuaries of the Office of the Chief Actuary.

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: Number to be determined

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, or any other specialty related to the position.
- Fellow of the Canadian Institute of Actuaries (CIA).**

*The term degree refers to a baccalaureate or a higher level degree, as established by educational authorities.
**8 years of relevant experience and the successful completion of three (3) actuarial exams (or equivalent) towards the Fellowship of the Canadian Institute of Actuaries will be considered equivalent to the designation.

Degree equivalency

ESSENTIAL EXPERIENCE
- Significant*** experience leading the preparation of actuarial valuations and cost estimates.
- Significant*** experience in recommending and providing advice on the rationales in selecting the assumptions used in actuarial reports.
- Significant*** experience in using one of the following programming languages: Fortran, SQL, Excel, Visual Basic for Applications (VBA), SAS and ProVal.
- Experience attending and participating in stakeholder meetings.

*** Significant means the depth and breadth of experience that is normally acquired by performing the tasks continuously over a 3-year period.

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

Various language requirements
English or French Essential, Bilingual - Imperative (BBB/BBB, CBC/CBC)

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
- In-depth knowledge of relevant programs such as the Canadian retirement system, social security programs, and/or public sector insurance and pension plans, and/or benefits to public sector employees and Veterans, including the relevant acts, regulations and government policies such as CPP, EI, CSFA, PSSA, CFSA, RCMPSA, VAC, etc.
- 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 or the International Actuarial Association; and the relevant sections of the Public Sector Accounting Handbook of the Chartered Professional Accountants Canada.

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

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.

All employees of the Office of the Superintendent of Financial Institutions (OSFI) are required to be fully vaccinated against COVID-19 unless accommodated based on a medical contraindication, religion, or another prohibited ground for discrimination as defined under the Canadian Human Rights Act.

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.

Internal employees of OSFI at the same group and level may be considered and offered a deployment or assignment before considering other applicants.

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 with foreign credentials must provide proof of Canadian equivalency. Consult the Canadian Information Centre for International Credentials for further information at http://www.cicic.ca/.

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 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.