Director, Enterprise Risk Management

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

OSFI believes in offering employees flexibility and in creating a workplace that is productive, engaging, collaborative, and inclusive, all the while being supportive of employees’ wellbeing. As such, OSFI is experimenting with a hybrid work model (a combination of telework and onsite work) that will shape how we use our physical workplace to establish new norms, ways of collaborating, and working together and will adjust its model based on lessons learned.

POSITION LOCATION / WORK ARRANGEMENT:
This position is located in Toronto. However, the successful candidate may report to the Toronto, Montreal, Ottawa, or Vancouver office for in-office work.

Due to the nature of the work and operational requirements, this position requires physical presence (in-office work) from one of the following OSFI offices across Canada - Toronto, Montreal, Ottawa, or Vancouver. The option of teleworking is available on a part-time basis in accordance with OSFI’s Guidelines on Telework. Teleworking arrangements are determined on a case-by-case basis depending on the nature of the work required by the position, the operational and business needs, as well as the candidate’s work preferences.

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 Director, Enterprise Risk Management is responsible for:
• Developing, implementing, integrating and ongoing management of OSFI’s Enterprise Risk Management (ERM) Framework;
• Developing and implementing processes to proactively identify, manage, report and monitor new and emerging risks, and address any changes to enterprise risk profile;
• Leading functional and/or sector risk assessments and developing and maintaining a risk data warehouse to support risk management, planning, reporting and performance measurement;
• Supporting senior leaders in fulfilling their risk oversight and monitoring responsibilities;
• Facilitating the integration of risk management with strategic and business planning, performance management, and other business processes, as needed; and
• Promoting awareness and an understanding of ERM across the organization through appropriate communication and training programs.

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 need is to staff two Director positions on an indeterminate basis, one position with a language requirement of bilingual imperative CBC/CBC and the other position with a language requirement of English essential.

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: 2

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 with specialization in business, commerce, economics, finance, mathematics, actuarial science, accounting or other relevant field OR an acceptable combination of relevant professional industry experience and education.

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

Degree equivalency

ESSENTIAL EXPERIENCE:

• Significant* experience in leading and executing complex** risk-based assessments within the financial services industry***.
• Significant* experience in the review or implementation of enterprise risk management frameworks and policies, including risk appetite frameworks, and monitoring the effectiveness of risk management activities.
• Experience in coaching, managing or leading teams of people.

*Significant is defined as having the depth and breadth of experience that is normally acquired by performing the tasks over a period of approximately five (5) years. Candidates must clearly demonstrate their roles and responsibilities pertaining to this experience.

**Complex assessments are assessments with at least three (3) of the following characteristics: multidimensional, sensitive, confidential, affecting many partners or stakeholders, precedent setting, having a major impact on the service or program delivery.

*** 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.

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

ASSET EDUCATION:
• A relevant graduate degree from a post-secondary institution.
• Professional designation in risk management with preferred specialization in Enterprise Risk Management (e.g., CRM-E or RF-E).

Degree equivalency

ASSET EXPERIENCE:
• Significant* experience in, identifying, assessing, managing, reporting, and monitoring new and emerging risks.
• Significant* experience in the assessment and implementation of Enterprise Risk Management systems or tools that enable effective and efficient risk management.
• Significant* experience working in a regulatory authority, financial services, or standard-setting body.
• Experience in relationship management.
• Experience in project management.
• Recent** and significant* experience in internal or external audit in the financial services industry***.

*Significant is defined as having the depth and breadth of experience that is normally acquired by performing the tasks over a period of approximately five (5) years. Candidates must clearly demonstrate their roles and responsibilities pertaining to this experience.

**Recent is defined as relevant experience acquired in the last five (5) years.

*** 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.

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

ESSENTIAL KNOWLEDGE:

• Knowledge of enterprise risk management frameworks and best practices.

ESSENTIAL COMPETENCIES:
• Interpersonal Communication
• Critical Thinking
• Collaboration
• Leading People
• Inclusion

ESSENTIAL ABILITIES:
• Ability to communicate effectively in writing.
• Ability to communicate effectively verbally.
• Ability to analyze, assess, measure risk, and provide advice on effective internal controls.

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

ASSET KNOWLEDGE:
• Knowledge of OSFI’s role in the supervision of the Canadian Financial System and OSFI’s Supervisory Framework.
• Knowledge of the current and emerging risks in the financial services industry.

ASSET COMPETENCIES:
• Innovation
• Impact and Influence
• Professional Judgment

OPERATIONAL REQUIREMENTS:
• Ability and willingness to work overtime.
• Ability and willingness to travel internationally and/or domestically when required.

Conditions of employment

• Security – Reliability Status
• In our hybrid workplace environment, the ability to work remotely from home within Canada with access to the Internet in one’s residence is a condition of employment.
• Agreement to be deployed into another REX position within OSFI at the same level.

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.

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.