Senior Analyst, Regulatory Affairs Division

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 one of the OSFI offices across Canada (Toronto, Montreal, Ottawa, or Vancouver).

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.

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 or more 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 immediate need is to staff one (1) Senior Analyst position. This process may also be used to staff future needs for a manager position.

Manager, Approvals:
The Manager will lead a team that is responsible for analyzing applications from Federally Regulated Financial Institutions (FRFIs) and Pension Plans (FRPPs) as well as from applicants wishing to establish operations under the FRFI statutes administered by OSFI and developing recommendations for the Minister of Finance and the Superintendent of Financial Institutions. In carrying out these tasks, the Manager is expected to identify issues that may pertain to the application; assess, analyze and develop recommendations on more complex applications and establish and maintain working relationships with internal and external stakeholders. The Manager may also be involved in developing or overseeing the development of written guidance to stakeholders on approval procedures and participating on or managing project teams, as required. As a People Leader, the Manager will provide ongoing feedback, coaching and mentoring to individual team members, promote continuous improvement of individual and team performance, and provide a stimulating, challenging, and motivating work environment.

Manager or Senior Analyst, Legislative Policy, Interpretations and Compliance:
The Manager/Senior Analyst is responsible for providing advice on managing issues relating to legislation and regulations, including legislative policy and compliance responsibilities and the interpretation of the statutes that apply to FRFIs and FRPPs. In carrying out these tasks, the Manager/Senior Analyst is expected to provide advice on the interpretation and application of the Bank Act, Insurance Companies Act, Trust and Loan Companies Act, Pension Benefits Standards Act, 1985 or Pooled Registered Pension Plans Act and regulations made thereunder; provide subject matter expertise in reviewing and responding to enquiries requiring interpretation of existing legislation, regulations and guidance; propose revisions to legislation, regulations, guidelines and OSFI policies that would enhance the regulatory and supervisory framework. As a People Leader, the Manager will provide ongoing feedback, coaching and mentoring to individual team members, promote continuous improvement of individual and team performance, and provide a stimulating, challenging and motivating work environment.

Manager or Senior Analyst, Prudential Policy and Strategic Policy Liaison:
The Manager/Senior Analyst is responsible for researching, undertaking analysis and providing advice to senior management on a wide variety of policy issues affecting FRFIs and FRPPs, the broader financial sector, or OSFI’s supervision and regulation of FRFIs and FRPPs; contributing to the development of prudential guidance applicable to FRFIs and FRPPs; and the strategic management of OSFI’s relationships with key public sector stakeholders. As a People Leader, the Manager will provide ongoing feedback, coaching and mentoring to individual team members, promote continuous improvement of individual and team performance, and provide a stimulating, challenging, and motivating work environment.

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. 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 benefit 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 (1) Senior Analyst position in Ottawa with a language requirement of English essential on an indeterminate basis. This process may also be used to staff future needs for a manager position.

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, 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 recognized post-secondary institution in commerce, business administration, finance, economics, accounting, law, actuarial science, mathematics, public administration, public policy, or another speciality relevant to the duties the position.

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

Degree equivalency

ESSENTIAL EXPERIENCE
• Extensive** experience in one, or a combination, of the following areas:
1. Carrying out the prudential regulation or supervision of financial institutions or registered pension plans***, AND/OR
2. Researching and analyzing financial information, business plans or legal agreements related to the financial services sector (e.g. property and casualty insurers, life insurers, deposit taking institutions or pension plans), AND/OR
3. Developing risk management policies, procedures or guidelines related to the financial services sector, AND/OR
4. Identifying key risks of a financial institution or pension plan and making recommendations for the mitigation of those risks, AND/OR
5. Assessing compliance with, interpreting or providing advice on corporate or commercial statutes and regulations, AND/OR
6. Planning and conducting research or analysis of public policy in relation to financial institutions or pension plans (e.g., guidelines, laws, regulations), AND/OR
7. Establishing partnerships and collaborating or engaging with internal and external stakeholders to discuss prudential recommendations or public policy issues.
• Experience providing written and oral advice, which includes policy positions and recommendations, to senior management****.

** Extensive means the depth and breadth of experience that is normally acquired by performing the tasks continuously over a 5-year period.
*** A registered pension plan is a plan that is registered under the Pension Benefits Standards Act, 1985 or subject to the Public Pensions Reporting Act, or a similar law of a province, and does not include registered retirement savings plans.
**** Depending on the organisational 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 (Master’s or Doctorate) degree from a recognized post-secondary institution in commerce, business administration, finance, economics, accounting, actuarial science, mathematics, public administration, or another speciality relevant to the duties of the position.
• A law degree (B.C.L, LL.L., LL.B. of J.D.) from a recognized Canadian university.
• Professional designation in a field relevant to the duties of the position (such as Accounting (CPA, CA, CMA, CGA), Employee Benefits (CEBS), Finance (CFA) or Actuarial (Associate or Fellow of the CIA)).

Degree equivalency

ASSET EXPERIENCE
• Experience interpreting legislation or regulations related to the Canadian financial sector (e.g. property and casualty insurers, life insurers, deposit taking institutions or pension plans).
• Experience developing or interpreting prudential guidance in Canada’s financial sector.
• Experience in public policy development or regulatory initiatives related to financial institutions or pension plans within a Canadian federal or provincial government department or agency.
• Experience working at a financial institution (e.g. Bank, insurance company, mortgage insurance company, etc.)
• Experience in developing, coaching people and/or leading teams.

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

Various language requirements
English Essential
Bilingual imperative – BBB/BBB
Bilingual imperative – CBC/CBC

Information on language requirements

ESSENTIAL KNOWLEDGE
• Knowledge of emerging risks and significant issues affecting the financial services sector.

ESSENTIAL COMPETENCIES
• Critical Thinking
• Results Orientation
• Interpersonal Communication

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 the regulatory framework* applicable to financial institutions or pension plans.
• Knowledge of public policy or regulatory initiatives of federal or provincial government departments or agencies that may affect FRFIs or FRPPs, or OSFI’s oversight of FRFIs or FRPPs.
• Knowledge of capital markets and financial products.

* Regulatory framework is the laws, regulatory guidelines, and supervisory approach.

ASSET COMPETENCIES
• Innovation

FOR MANAGER POSITION ONLY:
• Leading People
• 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
• Willingness and availability to work overtime occasionally.
• Willingness and availability to travel domestically and/or internationally when required.

Conditions of employment

Reliability Status security clearance

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.

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.

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.