Managing Director, Industry Surveillance 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 Toronto; 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

Duties:
Applied Risk Research and Analytics (ARRA) is seeking to fill the Managing Director position in the Industry Surveillance Division. The Managing Director will lead teams responsible for scanning, quantifying, and prioritizing macro-prudential risks in the economic environment that could impact the FRFIs OSFI supervises. The function also provides second line challenge to front line functions on risk perspective, response, and alignment with OSFI’s risk appetite framework. ARRA provides leadership and expertise that drives a data and analytic approach which enables risk-intelligent decision making across OSFI’s functional areas. The role will provide consulting advice to Management and Executives within the Strategy, Risk, and Governance, and other sectors, and work collaboratively across OSFI on broader initiatives.

The successful candidate will possess varied and solid experience in the financial services industry and an in-depth understanding of current business issues and trends in the environment. Developing, coaching, and leading staff (at all levels, including Executive) is a key responsibility of this position.

Specific responsibilities of Industry Surveillance Division include:
(a) constantly scanning the macro-environment for timely identification of current risks and changes in the trends and paradigm shifts.
(b) quantifying these risks, threats and interdependencies through the development of fit-for-purpose tools and the use of all available data sources in support OSFI’s risk-intelligent decision-making.
(c) deploying critical resources strategically and in accordance with OSFI’s risk appetite framework to promote optimal risk responses at the enterprise level.
(d) providing effective challenge by questioning assumptions and risk perspectives to identify organisational limitations or blind spots and facilitate appropriate resource allocation and continuous improvement.
(e) facilitating a macro-risk focused approach to prudential regulation/supervision across OSFI’s diverse functional areas.

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
• 2SLGBTQIA+
• 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 intention is to staff the position indeterminately.

This selection process may be used to establish a pool of qualified or partially qualified candidates, which could be used to staff similar or identical positions with various linguistic profiles and requirements, security profiles and various tenures.

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 postsecondary institution with specialization in commerce, accounting, business, finance, actuarial science, computer science, economics or mathematics OR a combination of education, experience and training.

Degree equivalency

ESSENTIAL EXPERIENCE
-Recent* and significant* experience in ONE or more of the following:

• At the senior management level in the financial services industry*;
• Consulting to the financial services sector;
• Consulting to capital markets;
• Consulting to economics;
• Credit assessment
• Other relevant risk management experience in a regulatory function, front office trading, or middle office operations.

AND

- Significant* experience developing, coaching, and training staff.

*Financial services industry experience is defined as experience working in one or more of the following areas: (a) financial institutions including banks, 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.

** Recent is defined as having acquired the experience within the last 10 years.

*** Significant is defined as having the depth and breadth of experience that is normally acquired by performing the tasks over a period of approximately six (6) years. Candidates must clearly demonstrate their roles and responsibilities pertaining to this experience.

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

ASSET EDUCATION
- MBA;
- CA, CGA, CMA, CFA, or other relevant designation.

Degree equivalency

ASSET EXPERIENCE
- Experience in strategy development, change management, and partnership building.
- Experience with project management.
- Experience developing, coaching, and training executive staff.

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

English essential

Information on language requirements

ESSENTIAL KNOWLEDGE
- In-depth knowledge of evolving business and environmental risk issues as they relate to the Canadian financial services industry, including banks, pensions, and insurance companies, and in particular knowledge and understanding of the macro-prudential risk environment

- Knowledge of international developments, particularly as they relate to risk management, capital and associated modelling and analytical techniques.

- Strong knowledge of governance and the risk management and internal control practices employed at financial institutions.

ESSENTIAL COMPETENCIES
- Critical Thinking
- Collaboration
- Leading People
- Inclusion

ESSENTIAL ABILITIES
- Excellent written communication skills
- Excellent oral communication skills

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 step 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.