Director (REX-07), Climate Risk Hub

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

In conjunction with OSFI’s transformational blueprint referenced in our recent announcement* of priorities, our newly established Climate Risk Hub is inviting applicants for several exciting opportunities at the REX-07 group level starting in early 2022.

*https://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/sp-ds/Pages/pr20211104.aspx

POSITION LOCATION:
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, Montreal, Ottawa, or Vancouver. 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 a human resources representative will contact you in order to complete an attestation.

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

Duties

WHAT YOU WILL BE DOING:
These leadership positions will be responsible for and assigned to the implementation of one of the following strategic initiatives:
• Policy and Risk Management – The development of innovative and comprehensive prudential climate risk policy and supervisory risk management expectations.
• Scenario Analysis and Risk Quantification – The development of climate scenario analysis and stress testing exercises for a range of banks, insurers and pension plans for both physical and transition risks, and the examination of how climate-related risks are reflected within capital adequacy assessments.
• Data Analytics, Measurement and Disclosure – The development of a climate risk-related data strategy to transform climate risk data into decision-useful information, including key performance indicators and metrics, to support disclosures by Federally Regulated Financial Institutions (FRFIs).
• Stakeholder Engagement – The development of a climate-related risk engagement strategy that promotes early and ongoing consultation with the public, FRFIs, industry representative groups, domestic partners and international standard-setters.

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 the development of climate risk solutions and the promotion of a safer financial system.
• You have sound knowledge of the current and emerging climate-related risks in the financial services industry.
• You know the techniques used in the measurement and management of climate and emerging risks.
• You work well with others.
• Your critical thinking skills help to inform your decision-making.

Work environment

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.

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. Your efforts contribute to the safety and soundness of the financial sector. A strong financial sector promotes competition, and benefits all Canadians.

Learning & Development
Our organization understands that ongoing learning and development is critical and necessary, and must evolve with developments in the Financial Sector. Learning and Development is a key 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. 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, maternity and parental leave benefits, vacation (4 weeks), personal and family leave days.

Intent of the process

This selection process will be used to staff several leadership positions responsible to manage policy and risk management, scenario analysis and risk quantification, data analytics, measurement and disclosure, and stakeholder engagement.

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: 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:
• A degree from a post-secondary institution with specialization in business, commerce, economics, finance, mathematics, environmental science, engineering, accounting or other relevant field.

Degree equivalency

ESSENTIAL EXPERIENCE:
• Recent and significant experience in one of the following areas in the public or private financial services sector*:
- Policy development and risk management,
- Model development, scenario analysis and stress testing,
- Data analytics and accounting/disclosure,
- Risk quantification, measurement, capital policy-making and/or capital management,
- Managing relations and engagement with domestic and international regulatory authorities and climate-related standard-setters.
• Experience in making presentations and/or conveying complex issues** to multiple levels of management and stakeholders.
• Experience in leading, developing, and/or coaching staff.

* Financial services sector includes experience working in a financial institution, including banks, insurance companies, pension funds, wealth management firms as well as government departments or agencies that directly deal with the supervision and regulation of these institutions, or other relevant areas.
** Complex issues is defined as multidimensional, highly technical, precedent-setting issues.

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 (i.e., Masters or Doctorate) from a post-secondary institution in finance, business, mathematics, accounting, computer science, science, engineering or economics with specializations in climate and environmental change, earth and environmental sciences, environment and sustainability, data science, financial mathematics, modelling or econometrics.

Degree equivalency

ASSET EXPERIENCE:
• At least 5 years of relevant work experience, with a preference for experience in the fields of climate change, Environmental, Social, and Governance (ESG) or sustainability.
• A strong foundation in quantitative analysis, statistics, econometrics, modelling, and/or big data processing.
• 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, including the assessment of environmental, climate and social risks.
• Experience in the use of climate change and catastrophe scenarios, models, projections and data.
• Experience with climate-related financial accounting and disclosures.
• Experience with a regulatory authority or standard-setting body.

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

Various language requirements
English essential, Bilingual imperative (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:
• Knowledge of the causes and drivers of climate change, the impacts, and the global response and actions needed to address challenges in the financial services sector.
• Knowledge of climate-related transition and physical risks.
• Knowledge of financial sector-related domestic and international climate risk policy, regulatory guidance and developments, organizations and standard-setting bodies, with in-depth knowledge of at least one of the of the following areas: risk measurement and management, scenario analysis and stress testing methodologies, data and taxonomy implications, disclosure frameworks, and industry best practices.

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.
• Critical Thinking: The identification and evaluation of evidence to guide decision-making. It involves, interpreting, linking, and analyzing information in order to define issues, trends and/or arrive at solutions to problems.
• 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:
• Knowledge of decarbonization of the financial sector and understanding the financial impacts of climate change.
• Knowledge of credit or market risk rating systems, catastrophe modelling, and/or financial and risk reporting.
• Knowledge of data science, manipulation of large amounts of data, and the Task Force on Climate-Related Financial Disclosures (TCFD) and other disclosure frameworks.
• Knowledge of climate scenario, probabilistic and geospatial modelling, including the Network for Greening the Financial System (NGFS) and other climate change scenarios, models, and projections.

ASSET COMPETENCIES:
• Developing Others
• Building Business Relationships
• Professional Judgment

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 and ability to work overtime, often on short notice.
• Willingness and ability to travel within Canada and occasionally internationally (should the telework environment no longer apply).

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 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.

• 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

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 may be administered.

Reference checks may be sought.

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

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 bring proof of their education credentials, in the form of a diploma or official transcript (original documents only). 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. A candidate may be appointed to a position even though he/she does not meet any or all of the asset qualifications. However, meeting these criteria is desirable and may be a deciding factor in choosing the person to be appointed.

Depending on the requirements of the position(s) being staffed from this process, for current or future vacancies, any or all of the asset qualifications may be applied at any time during the staffing process, including screening. Candidates may be contacted and assessed against these criteria at any time during this process.

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: .

As a Separate Agency, the Office of the Superintendent of Financial Institutions (OSFI) appoints employees in accordance with the Public Service Employment Act (PSEA). OSFI is named in Schedule V of the Financial Administration Act (FAA) and it offers the same pension and benefits plans as the core Federal Public Service.

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.