Senior Actuary

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 the 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:
OSFI is committed to achieving a representative workforce that reflects the diversity of the Canadian population. We are dedicated to building and promoting a diverse, equitable and inclusive workforce, representative of all Canadians regardless of race, ethnicity, colour, religion, sex, age, disability, sexual orientation, gender identity or expression, socio-economic background or lived experience. By embracing diversity and inclusion, our department ensures broader discussions, better decisions, and a more positive workplace.

We welcome all candidates, including Indigenous Peoples, Black, other racialized groups, persons with disabilities and members of the LGBTQ2+ community to apply and strongly encourage candidates to self-declare if they belong to an Employment Equity designated group Aboriginal* Peoples, Persons with Disabilities, Women or Visible Minorities - Black people and other racialized groups.

*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.

While many programs and initiatives have already been implemented in line with our commitments to diversity and inclusion, we aim to improve! We invite you to be part of the change by joining an organization where individual differences are recognized, valued and respected.

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

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 Senior Actuary provides expertise to the Office of the Chief Actuary (OCA) in specific areas such as social security, pension plans and employee benefits, and acts as a representative of the OCA with national stakeholders and relevant organizations. This position leads the development of sound and professional actuarial advice on plans and programs under the responsibility of the OCA, 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 Senior Actuary 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”.

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.

Work environment

Our Role:
The Office of the Chief Actuary is an independent unit within the Office of Superintendent of Financial Institutions (OSFI). 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. 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. It also offers actuarial services to the Government of Canada through the OCA.
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. We have several networks dedicated to ensuring that the department continues to grow as an inclusive, accessible, respectful and diverse workplace. All employees are encouraged and welcome to join the following networks and participate in their activities and events.
• Diversity of Thought
• Family Responsibilities
• Gender
• LGBTQ2IS
• Mental Health and Accessibility
• Multiculturalism (Affinity Groups: Indigenous, Asian, Black)
• Unconscious Bias
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. The OCA offers the Development Program for Actuaries and supports the fulfillment of actuarial designations through the Actuarial Study Time Policy.

Intent of the process

The immediate need is to staff one position with a language requirement of English or French essential 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 requirements and/or various tenures within the Office of the Superintendent of Financial Institutions (OSFI), 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 position.
• Fellow in the Canadian Institute of Actuaries.

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

Degree equivalency

ESSENTIAL EXPERIENCE
• Extensive** experience leading the preparation of actuarial valuations and cost estimates.
• Extensive** experience in providing advice and recommendations on the rationales in selecting the assumptions used in actuarial reports.
• Experience developing and influencing future directions by providing actuarial advices and services to various stakeholders.
• Experience in delivering speeches and/or presentations to various audiences.
• Experience in managing and initiating multi-step projects and/or multi-disciplinary projects involving various organizational participants who present different visions and objectives.
• Experience in preparing a wide-range of reports, briefing notes and correspondence for senior government officials and/or senior management.

** Extensive means the depth and breadth of experience that is normally acquired by performing the tasks continuously over a 5-year period.

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

English or French

Information on language requirements

ESSENTIAL KNOWLEDGE
• Expert knowledge of the design, financing and actuarial reporting related to the relevant types of programs such as social security programs, and/or pension plans, and/or employee benefits programs.
• 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.
• In-depth knowledge and understanding of policy, economic and demographic trends related to social security programs, and/or public sector pension plans, and/or benefits to public sector employees.

ESSENTIAL COMPETENCIES
• Growth and Development
• Collaboration
• Critical Thinking
• Interpersonal Communication

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 work overtime.

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.
• Ability and willingness to travel within Canada when required.

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

For external processes (as indicated by the abbreviation “EA” in the selection process number), only those selected for further consideration will be contacted.

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

Assessments (such as written exams, interviews and reference checks) 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.

Candidates must meet all of the essential qualifications to be appointed; however, one or more asset criteria may be invoked at any stage of the process.

Depending on the number of applicants, volume management strategies such as random selection, top-down approach and/or establishing cut-off scores to determine who will continue in the staffing process, may be used for the purpose of managing applications. Please note that although you may attain the established pass mark on any of the assessments used in this staffing process, management may decide to use a higher cut off score.

Eligible candidates may be considered and offered a deployment or interchange 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.

Email correspondence will be used as the main method of communication with candidates for this selection process, please ensure it accepts messages from unknown users. Please note that you need to provide valid and updated contact information.

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.