Principal Analyst/ Policy Analyst/ Specialist (Various job titles)

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

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀- - - * - - -

WE ARE LOOKING FOR PEOPLE TO JOIN AN IMPORTANT AND EXCITING INITIATIVE ON HOUSING FINANCE IN CANADA!

Are you interested in contributing to public confidence in the Canadian financial system?
Are you interested in joining a growing organization?
Are you interested in analytics, data, risk or policy work?

You might be the person we are looking for! The Office of the Superintendent of Financial Institutions (OSFI) is seeking RE-05 Principal/Policy Analysts and RE-06 Specialists to join our team.

You can be part of our exciting transformation as we become more dynamic and agile, building public confidence in Canada’s financial system.

To keep pace with growing and increasingly complex demands associated with the Housing sector, OSFI is seeking highly motivated individuals with a residential mortgage/housing financial industry and risk management perspective to participate in the supervision, analysis and assessment of the financial condition, risk profile and risk management practices of Canada’s federally regulated deposit taking and mortgage insurance institutions. The Principal Analyst/Policy Analyst/Specialist is a key participant in the ongoing monitoring, analysis, and surveillance of residential mortgage/housing/real estate secured lending business line activities and policies related to these activities. This position also participates in the preparation of analysis, emerging risk trends and reports to senior management and other Federal government agencies on OSFI’s Housing/Residential mortgage work.

The hiring managers will review the employee submissions to identify suitable candidates for these opportunities based on alignment of skill set.

POSITION LOCATION:
Positions being staffed from this process may be located in our Toronto, Ottawa, Vancouver or Montreal offices.

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, Vancouver or Montreal. As our telework arrangements are evolving, we encourage you to apply.

Duties

SUPERVISION
Key activities:
• Gather and analyse institution specific housing/residential mortgage relevant data from various internal sources to identify performance trends and areas for further analysis.
• Perform institution and peer analysis (regular and ad hoc) on various housing/residential mortgage measures to identify emerging risks.
• Support management reporting on institution specific and peer trending on various housing/residential mortgage measures (drawing conclusions from the data, summarizing findings in a concise manner and preparing tables, charts etc.) to convey information to both internal and external stakeholders.
• Research various housing related products (such as pricing and profitability structure) and their funding.
• Support enterprise-wide initiatives to enhance data quality and analytics.

CREDIT RISK
Key activities:
• Undertake quantitative and qualitative credit risk analyses on the impact and implications of potential policy and macro-economic changes to support supervisory assessments.
• Identification of emerging credit risk issues and trends across peers and at the industry and financial institution level.
• Develop, maintain, and enhance reporting platforms, regulatory returns or templates, and/or dashboards.
• Participate in the assessment of credit risk practices across financial institutions and sectors through cross sector examinations and monitoring activities.
• Support the specialty sector activities with respect to communication, internally and externally.

INDUSTRY SURVEILLANCE
Key activities:
• Working with our Risk Data and Analytics department and internal stakeholders, design, maintain, and continuously improve our surveillance dashboards for both the housing and mortgage markets.
• Lead internal forums for the discussion on these topics and proactively identify areas of concern (e.g. investor mortgages).
• Retrieve and manipulate data for both reporting and analysis purposes from our internal database.
• Perform both regular and ad hoc analysis on specific issues as they become relevant, ranging from sizing the impact of potential policy changes to running scenario analysis on different macroeconomic conditions.
• Prepare briefing notes and presentations in support of housing work at OSFI.
• Support central initiatives by providing expertise and relevant information on broader housing and mortgage market trends.

PRUDENTIAL POLICY
Key activities:
• Conduct research and analyses of prudential regulatory policy on real estate secured lending and housing finance, including reviews of domestic and international practices.
• Prepare reports, briefings and presentations on policy research findings, analyses, advice and recommendations for OSFI senior management and other audiences.
• Support senior colleagues with development of regulatory guidance to federally regulated financial institutions, including drafting, public consultation, internal training and external information session events.

Work environment

As a Principal Analyst/ Policy Analyst/Specialist, you will assist (Credit Risk, Supervision, Prudential Policy and Industry Surveillance, depending on the specialty selected) in a variety of initiatives:

SUPERVISION
The Supervision group is responsible for supervising federally regulated financial institutions including banks, trust companies and mortgage insurers. The Principal Analyst/Specialist in Supervision is responsible for supporting the assessment of the risks and controls of housing related products offered by both Systemically Important and Small and Medium Sized Banks as well as mortgage insurers and capital, funding and liquidity implications.

CREDIT RISK
The Credit Risk Division undertakes assessments of the credit exposures and related risk management practices of federally regulated financial institutions. The Analyst in the Credit Risk Division is responsible for the assessment of credit risk activities and trends within financial institutions and across sectors as it relates to Housing and Real Estate Secured Lending.

INDUSTRY SURVEILLANCE:
The Industry Surveillance team has been tasked with taking a high-level view and create an understanding of the broader trends and issues affecting the financial sector as a whole and not just at the individual institution level. The retail credit risk team has a particularly large focus on the real estate secured lending segment, due to its oversized importance on the balance sheets and capital positions of lending institutions.

PRUDENTIAL POLICY:
The Prudential Policy team oversees the development and implementation of OSFI external guidance that fosters sound risk management and governance practices of federally regulated financial institutions. This includes OSFI’s guidance on residential mortgage underwriting (Guideline B-20) and residential mortgage insurance underwriting (Guideline B-21). The Analyst in Prudential Policy is responsible for supporting the development of regulatory guidance on real estate secured lending and OSFI’s positions with respect to various housing finance policy issues.

Who You Are
You should possess the following attributes:
• You are an individual with a broad Housing industry or residential real estate risk management perspective.
• You have sound knowledge of the current and emerging risks in the Housing industry.
• You are enthusiastic about developing and applying analytical insights into the measurement and management of current and emerging risks in Housing.
• You are keenly interested in contributing your expertise to promote a safer financial system.
• You work well with others.
• Your critical thinking skills help to inform your decision-making.

Successful applicants may be initially placed in a position that matches their knowledge and experience. Your career path at OSFI can include positions in more than one sector.

Intent of the process

Immediate and Anticipatory Staffing.

We currently have 4 indeterminate opportunities available at the Principal Analyst/Policy Analyst/Specialist (RE-05/RE-06) levels starting as early as September 2022, within the Credit Risk (1 position), Banking Supervision (1 position), Prudential Policy (1 position), and Industry Surveillance (1 position) specialty areas.

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 OR an acceptable combination of relevant professional industry experience and education.

Degree equivalency

ESSENTIAL EXPERIENCE
• Relevant and significant Retail Real Estate Secured Lending (RESL) experience in the financial services sector* in one or more of the following key areas: Risk Management, Governance, Policy, Retail Secured Lending Credit or Underwriting or Financial Reporting, Data Analytics OR Experience in supervising financially regulated institutions.
• Relevant experience in the identification, assessment, monitoring, quantification and/or measurement, and/or management and mitigation of Real Estate Secured Lending risks.

*Financial services sector experience is defined as experience working in:
(a) a financial institution, including banks, trust and loan companies, cooperative credit unions, mortgage finance companies, brokers or other firms related to mortgage financing
(b) firms dealing with consulting engagements of such institutions,
(c) technology and data companies providing RESL services to financial services sector institutions or linked to the delivery of financial services
(d) government departments that directly deal with the supervision and regulation of these institutions, or
(e) other relevant areas related to Housing in Canada.

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

ASSET EDUCATION
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.
• A graduate or post-graduate degree from a post-secondary institution with relevance to the financial services sector, such as a degree in finance, business, commerce, economics, mathematics, actuarial science, statistics, engineering, computer science or data analytics.
• A relevant professional designation (e.g., CPA, CFA, FRM, CMA, CERA, FCIA, CRM).
• Recognized advanced training relevant to the Housing and the financial services sector.

Degree equivalency

ASSET EXPERIENCE
You may be required to meet a combination of any of these asset experience criteria:
• Recent and significant experience in one or more of the following:
o The Banking Industry in residential mortgages
o Residential mortgage lending
o Mortgage insurance activities
o Credit risk analysis, assessment, and risk management
o Market surveillance
o Policy development
• Experience in liaising with and making presentations to Senior Management.
• Experience in data and analytics including modern business information tools (such as Power BI or Tableau for visualization) for the analysis and assessment of one or more of the following: Credit, Macro-economics, Liquidity and/or Market risks.
• Experience with coding in different languages, such as SQL, Natural Language Processing or Azure Synapse Analytics, Azure Cognitive Services, or data science languages, such as Python and R.

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

Various language requirements
Various Linguistic 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 current and emerging credit risks and techniques used in the measurement and management of risk in housing/residential secured lending in the financial services industry.

ESSENTIAL COMPETENCIES
• Critical Thinking
• Results Orientation
• Collaboration

ESSENTIAL ABILITIES
• Ability to communicate effectively in writing
• Ability to communicate effectively verbally

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

ASSET KNOWLEDGE
• Knowledge of risk assessment principles, risk analysis, or internal controls; including second line or 1B challenge functions. (e.g., portfolio analytics, risk rating methodologies, or policy development) currently employed in financial institutions to measure or manage current or emerging risks in Housing.
• Knowledge of the performance indicators in the Housing and/or Residential Real Estate Secured Lending.
• Knowledge of the performance indicators in the mortgage insurance sector.
• Knowledge of regulatory returns for banks or mortgage insurers
• Knowledge of data science analytic techniques (modeling, machine learning and artificial intelligence applications).

ASSET COMPETENCIES
• Interpersonal Communication
• Innovation

ORGANIZATIONAL NEEDS
OSFI is committed to having a skilled and diverse workforce representative of the Canadian population. 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 as required.

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

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 invite you to be part of the change by joining an organization where individual differences are recognized, valued and respected. We welcome all candidates 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.

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

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.