Senior Manager, Pension Actuarial

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

POSITION LOCATION:
This position is located in Ottawa; however, the successful candidate may work from the Ottawa, Toronto or Montreal 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: Ottawa, Toronto, 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).

*The term “Aboriginal” is used within this job advertisement as it relates to the Employment Equity Act and other legislative frameworks. The term “Indigenous” is used where possible, in alignment with the United Nations Declaration on the Rights of Indigenous Peoples.

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

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.

Duties

The Senior Manager, Pension Actuarial (the “Senior Manager”) within the Private Pension Plans Division (PPPD) is responsible for striving to protect the rights and interests of federally regulated pension plan members and other beneficiaries by ensuring that pension plans are funded in compliance with the federal pension plan legislation, professional standards and accepted actuarial practice. The Senior Manager is the primary source of actuarial expertise on federally regulated pension plans within OSFI. They lead the pension Actuarial team, which is responsible for reviewing actuarial reports and assessing actuarial matters in pension plans, providing actuarial advice to the Pension Supervision, Approvals and Policy teams, providing training to pension supervisors on actuarial issues, staying abreast of the latest developments in the pension industry and actuarial practice, and assessing and responding to the Actuarial Standards Board on revisions to the Canadian Institute of Actuaries’ standards and guidance.

Work environment

Our Role:
OSFI is an independent federal government agency that regulates and supervises more than 400 federally regulated financial institutions and 1,200 pension plans to determine whether they are in sound financial condition. In fulfilling its mandate, OSFI supports the government's objective of contributing to public confidence in the Canadian financial system.
Learn more about us 👉 https://youtu.be/QO_3vnPKuZI

Our People and Culture:
People are the foundation of our organization. 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.
Hear about our people 👉 https://youtu.be/diUspmpYWQI

Our Rewards:
💵 Compensation: OSFI offers a competitive salary, and employees may be eligible for in-range increases and economic adjustments. Salaries are based on qualifications, experience and knowledge. The Public Service Pension Plan is a defined benefits pension plan (indexed for inflation), where both the employer and the employee contribute.

💰 Performance Pay: OSFI employees are eligible for an annual bonus based on their performance throughout the year.

✈️ Vacation and Leave: OSFI employees start with 4 weeks of paid vacation, 2 personal days and 5 days of Family Related Leave with Pay among other various types of paid and unpaid leave.

💻 Flexible Work Arrangements: OSFI offers flexible work arrangements by providing support for compressed work week schedules, flexible work hours and teleworking, in order for employees to achieve their work objectives while achieving balance between work and homelife.

📖 Learning and Development: OSFI offers career advancement opportunities and encourages innovative thinking in its work environment. Employees may be reimbursed for relevant professional association membership fees.

Intent of the process

The immediate need is to staff one position with a language requirement of bilingual imperative CBC/CBC on an indeterminate basis.

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

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 duties of the position.
- Fellow of the Canadian Institute of Actuaries (FCIA).

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

Degree equivalency

ESSENTIAL EXPERIENCE
- At least 10 (ten) years of recent significant experience* in providing actuarial advice on pension issues.
- Extensive** experience in providing advice and making recommendations to internal or external senior management***.
- Extensive** experience in influencing external stakeholders.

*The required experience above must have been part of the regular work duties of the candidate and must have been within the last 15 years. Whether the experience was significant will be evaluated in terms of the amount, complexity and diversity of work handled.
**Extensive means the depth and breadth of experience that is normally acquired by performing the tasks continuously over a 5-year period.
***Depending on the organizational structure, senior management could mean such levels of management as the executive group or employees at the director level and above.

If you possess any of the following, your application must also clearly explain how you meet it (other qualifications)

ASSET EDUCATION
- A graduate degree* from a recognized university in a field relevant to the duties of the position.
- Professional designation in a field relevant to the duties of the position such as Chartered Enterprise Risk Analyst (CERA) or Chartered Financial Analyst (CFA).

*The term "graduate degree" refers to a master’s or a higher-level degree, as established by educational authorities

Degree equivalency

ASSET EXPERIENCE
- Experience in brokering ideas and managing conflicting stakeholder needs.
- Experience in leading the preparation of actuarial valuations where pension assets and liabilities are projected using stochastic modelling.
- Experience in working with the Pension Benefits Standard Act, 1985 and its regulations.
- Experience leading or participating in pension related committees of the Canadian Institute of Actuaries, Society of Actuaries or equivalent.
- Experience in working with pension investments.
- Experience in developing regulatory policy and guidance or providing advice and interpretation of legislation to stakeholders.

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

Bilingual - Imperative (CBC/CBC)

Information on language requirements

ESSENTIAL KNOWLEDGE
- Knowledge of key risks facing the Canadian pension industry.
- Expert knowledge of the Canadian Institute of Actuaries Standards of Practice and Guidance as they apply to pension plans.

ESSENTIAL COMPETENCIES
- Collaboration
- Innovation
- Critical Thinking
- Results Orientation
- Inclusion
- Leading People

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

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

ASSET KNOWLEDGE
- Knowledge of OSFI’s Instruction Guide for the Preparation of Actuarial Reports for Defined Benefit Pension Plans.

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

Secret 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

OSFI is a separate agency with its own classification and compensation system. OSFI's staffing is subject to the Public Service Employment Act (PSEA).

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.

The ability to communicate effectively in writing may be assessed using the candidate's application, as well as through the evaluation process.

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.

A top down selection of candidates may be used in the determination of those to be given further consideration in the assessment process.

Eligible candidates may be considered and offered a deployment before considering other applicants.

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 or mail hard copy documents as these will not be accepted. To submit an application online, please click on the "apply now" button. Persons without Internet access may also review jobs open to the public through INFOTEL at 1-800-645-5605.

If you have a limitation that may impact your performance at any steps of the assessment process (such as submitting the application, written test or an interview), you may request an accommodation. Assessment accommodations are designed to remove barriers, and to ensure that candidates with limitations can fully demonstrate their abilities. Should you wish to be accommodated, please inform us by sending an e-mail to the following address: . All information received in relation to accommodation will be kept confidential.

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.