Executive Director, Emerging Risks Operations

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

This position is located in Toronto. However, the successful candidate may work from the Montreal, Ottawa, Toronto or Vancouver office.

Due to the nature of the work and operational requirements, this position requires physical presence (in-office work) from one of the OSFI offices across Canada listed above. Senior executives are expected to work on-site the majority of their time, with occasional remote work from home within Canada, approved at their manager’s discretion.

Duties

OSFI is seeking to fill an Executive Director position to lead its Emerging Risk Operations (ERO)
Directorate.

The Executive Director, ERO is responsible for leading our non-financial risk specialist response and for taking all new and emerging risks that have been prioritized for action, and plan, develop, implement, and mature OSFI’s regulatory response to them. The nature of these risks is diverse, and, moreover, is unpredictable, with new, non-traditional risks emerging to which OSFI must respond, building new capacity and expertise and then determining how to effectively integrate and embed functions through OSFI.

The Directorate currently consists of five groups:

Non-Financial Risk:
• Leads and manages supervisory work in assessing and monitoring non-financial risks, including technology and cyber, operational risk, culture, and regulatory compliance
• Supports policy responses and guides the development and evolution of non-financial risk practices

Climate Risk Hub:
• Develops policy responses and establishes supervisory tools and expectations to manage climate-related risks

Digital Innovation Impact Hub:
• Leads on initiatives to regulate the evolving digital landscape and ensure that regulated entities are appropriately managing risks

Integrity and Security:
• Provide executive leadership in the development of guidance, supervisory tools and processes in support of OSFI's new integrity and security mandate.

Central Office:
• Provides sector-wide operational expertise and support with respect to finance, people management, information management, planning and governance

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.

📖 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 intent of this process is to fill one position on an indeterminate basis on a bilingual imperative (CBC/CBC) basis. If no bilingual imperative (CBC/CBC) appointment can be made, a bilingual non-imperative (CBC/CBC) appointment may be considered within this advertised appointment process.

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 (bilingual imperative, bilingual non-imperative, or English essential), security requirements and/or various tenures within various locations in the Office of the Superintendent of Financial Institutions (OSFI), 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)

EDUCATION
A degree* from a postsecondary institution, in law (B.C.L., LL.L., LL.B. or J.D.), commerce, business administration, finance, accounting or economics or another field relevant to the position or a professional designation in a related field (e.g. CA, FCIA).

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

Degree equivalency

EXPERIENCE

• Significant** and recent*** leadership experience at the senior executive level****, in banking, insurance, risk management, finance, or a regulatory function related to the financial sector*****.

• Significant**, and recent ***leadership experience, at the senior executive level****, in leading a team of diversified professional and technical specialists.

• Significant** and recent*** experience at the senior executive level **** in building and maintaining effective, long-term relationships with stakeholders in industry, government, or international organizations.

• Experience in the strategic planning and oversight of risk response operations in the financial sector*****.

• Experience managing financial and human resources.

** Significant experience is understood to mean the depth and breadth of the experience normally associated with having performed a broad range of various related activities over a period of at least 5 years.

*** Recent is defined as experience acquired in the last 7 years.

**** Senior executive level is defined at minimum EX-03 / REX-08 in the federal public service and VP in the financial sector, or equivalent.

***** Financial sector experience is defined as experience working in one or more of the following areas: (a) financial institutions including banks, trust and loan companies, insurance companies and pension plans (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) Indigenous Institutions including: Band operations, trustees or administrators of pension plans, insurance institutions, lending institutions or other related areas providing financial services (f) other relevant areas, such as but not limited to, 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)
Bilingual Non-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

KNOWLEDGE
• Knowledge of the regulatory framework (e.g., legislation, regulation, guidelines and other rules) affecting the federally regulated financial sector.

• Knowledge of current and emerging financial services industry***** risk trends and issues, including associated challenges and opportunities.

COMPETENCIES
• Leading People
• Inclusion
• Critical Thinking
• Collaboration

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

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

ASSET EXPERIENCE
• Significant** and recent*** leadership experience at the senior executive level****, in leading on the development and implementation of policy or operational advice pertaining to emerging risks affecting the federally regulated financial sector*****.

• Significant** and recent*** experience at the senior executive level **** in building and maintaining effective, long-term relationships with stakeholders specifically in the financial services industry.

• Experience in leading teams in the area of non-financial risk.

• Experience in leading organizations through transformation, innovation or change management initiatives.

** Significant experience is understood to mean the depth and breadth of the experience normally associated with having performed a broad range of various related activities over a period of approximately 5 years.

*** Recent is defined as experience acquired in the last 7 years.

**** Senior executive level is defined at minimum as EX-03 / REX-08 in the federal public service and as VP in the financial sector, or equivalent.

***** Financial sector experience is defined as experience working in one or more of the following areas: (a) financial institutions including banks, trust and loan companies, insurance companies and pension plans (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) Indigenous Institutions including: Band operations, trustees or administrators of pension plans, insurance institutions, lending institutions or other related areas providing financial services (f) other relevant areas, such as but not limited to, financial risk management, investment management, corporate treasury functions or commercial lending.

ORGANIZATIONAL NEEDS
To meet the organization’s employment equity objectives in support of a diversified workforce, ‘right fit’ selection for this position may be made from among qualified candidates who self-declare as being Persons with a disability or Aboriginal peoples.

OPERATIONAL REQUIREMENTS
• Ability and willingness to travel and to work overtime, when required

Conditions of employment

Secret security clearance

Consent to the possibility of being deployed to another equivalent REX position at OSFI.

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 the only method of communication with candidates for this selection process, please ensure it accepts messages from unknown users. Please ensure you check your spam folder for any communications from OSFI. You must 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.

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

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.