Principal Analyst - Banking

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:
Positions being staffed from this process may be located in our Toronto, Vancouver, Ottawa, or the 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.

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

Duties

To keep pace with growing and increasingly complex demands, the OSFI’s Supervision Sector is seeking highly motivated individuals with a broad 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 institutions. The Principal Analyst is a key participant in the ongoing monitoring and on-site review of significant business line activities and control functions. This position also participates in the analysis and identification of both sound practices and emerging risk trends across financial sectors.

Work environment

Are you highly driven and analytical? Do you thrive in rapidly changing environments? You might be the person we are looking for! The Office of the Superintendent of Financial Institutions (OSFI) is seeking RE-05 Principal Analysts 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.

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. 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.

Intent of the process

Immediate and Anticipatory Staffing.

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
• A degree from a post-secondary institution OR an acceptable combination of relevant professional industry experience and education.

Degree equivalency

ESSENTIAL EXPERIENCE
• Significant experience in the financial services industry* in one or more of the following key areas: Risk Management, Finance, Corporate Governance, Compliance, Internal Audit, External Audit (includes experience in assessing risk and control effectiveness), Commercial and/or Retail Credit, Underwriting, Analysis of Profitability, Control Effectiveness and Financial Results, Strategic Planning, Mergers and acquisitions, Data Analytics OR Experience in supervising financially regulated institutions.
• Significant experience in the identification, assessment, monitoring, quantification and/or measurement, and/or management and mitigation of risks.
• Experience in liaising with and making presentations to Senior Management.

*Financial services industry experience is defined as experience working in one or more of the following areas: (a) financial institutions including banks, finance companies, trust and loan companies, and insurance companies (b) firms dealing with audits or consulting engagements to such institutions (including reinsurance brokers) (c) technology and data companies providing services to financial institutions or linked to the delivery of financial services (d) government departments that directly deal with the supervision and regulation of these institutions (e) First Nation Institutions including: Band operations, trustees or administrators of pension plans, lending institutions or other related areas providing financial services (f) other relevant areas such as financial risk management, investment management, corporate treasury functions or commercial lending.

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 business and regulatory environments in which deposit-taking institutions operate.
• Knowledge of the key products and functions and the performance indicators in the banking sector.
• Knowledge of current and emerging risks, issues, or trends in the financial services sector and the information and techniques used in the measurement and management of associated risks.

ESSENTIAL COMPETENCIES
• Collaboration
• Critical Thinking
• Innovation

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 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).
• Recognized advanced training relevant to the business and/or risk management activities of the financial services sector.

Degree equivalency

ASSET EXPERIENCE
You may be required to meet a combination of any of these asset experience criteria:
• Experience in relationship or key account 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, Liquidity, Market, Insurance, or Operational risk.
• Recent and significant experience in one or more of the following:
o The Banking Industry
o The P&C Insurance Industry
o The Life Insurance Industry
o Consumer/residential mortgage lending or mortgage insurance activities
o Credit risk analysis, assessment, and risk management
o Liquidity or liquidity risk management
o Operational risk management, including third-party risk and business continuity planning
o Capital and/or capital management
o Capital markets risk analysis and assessment
o Monitoring or assessing the performance of regulatory capital models
o Model risk management
o Retail lending, commercial lending, corporate lending, capital markets or problem loan management.
• Experience with Natural Language Processing and/or Natural Language Generation.
• Experience with Azure Synapse Analytics, Azure Cognitive Services.
• Experience with data science languages, such as python and R.
• Experience with modern programming languages, such JavaScript, Java, PHP or node.js.
• Experience in a central support function (including CSS) within financial sector regulation and/or supervision.

ASSET KNOWLEDGE
• Knowledge of OSFI’s role in the supervision of the Canadian Financial System.
• Knowledge of OSFI’s Supervisory Framework including guidelines.
• Knowledge of relevant global risk management and accounting principles and standards (e.g., Basel Committee, International Association of Insurance Supervisors, and International Accounting Standards Board) and their application to both large and small financial institutions.
• Knowledge of governance and risk management practices currently employed in financial institutions to measure and manage current and emerging risks.
• Knowledge of the performance indicators in the banking sectors.
• Knowledge of the performance indicators in the insurance sectors.
• Knowledge of actuarial and finance models used by the insurance industry and applicable regulatory requirements.
• Knowledge of mathematical concepts and analytics used to measure risk in credit or market risk models.
• Knowledge of regulatory returns.
• Knowledge of data science analytic techniques (modeling, machine learning and artificial intelligence applications).
• Knowledge of technology risk, innovative FinTech and InsurTech products and/or cyber risk as they relate to the financial services sector.
• Knowledge of regulatory technology and supervisory technology.

ASSET COMPETENCIES
• Interpersonal Communication
• Results Orientation
• Inclusion

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 as required.
Availability and willingness to travel on occasion, both domestically and/or internationally.

Conditions of employment

Security – Reliability

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.

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.

An acting appointment requires approval of your supervisor. You are encouraged to discuss with your manager your intent to apply to this role.

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.