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.
POSITION LOCATION / WORK ARRANGEMENT:
The designated worksite for this position is the Ottawa, Ontario OSFI Office. However, the employee may work from the Ottawa, or Montreal office.
OSFI’s hybrid model includes telework and mandatory onsite presence. The terms of the employee’s telework arrangement will be established in accordance with the Directive on Telework and the Guidelines on Hybrid Work. These arrangements must be reviewed annually, at a minimum, and can be subject to change.
EMPLOYMENT EQUITY:
OSFI is 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 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. Indigenous refers to North American Indigenous people as members of First Nations, Inuit, or Métis. North American Indigenous people or members of First Nation include treaty, status or registered Indigenous people, as well as those non-status and non-registered.
STREAM RE-05:
Develop sound and professional actuarial advice on plans and programs under the responsibility of the Office of the Chief Actuary, carry out actuarial reviews and/or statutory and non-statutory actuarial reports and studies, and conduct component of various projects in this regard.
STREAM RE-06:
Lead the development of sound and professional actuarial advice on plans and programs under the responsibility of the Office of the Chief Actuary, plan and oversee the preparation of actuarial reviews and/or statutory and non-statutory actuarial reports and studies, and lead the planning of various projects in this regard.
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 and to ensure they protect themselves against threats to their integrity and security. 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
Why Choose OSFI:
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. OSFI is passionate about fostering a workplace where all people feel welcome, can reach their full potential, and contribute their unique perspectives and experience to the success of the team. We have several networks dedicated to ensuring that the department continues to grow as an inclusive, accessible, respectful, and diverse workplace. Some examples include: 2SLGBTQIA+, Mental Health and Accessibility, Multiculturalism (Affinity Groups: Indigenous, Asian, Black), Unconscious Bias.
Hear about our people 👉 https://youtu.be/diUspmpYWQI
💵 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.
🏥 Health Care Coverage: OSFI employees and their dependents are eligible to be enrolled in the Public Service Health Care Plan, designed to supplement provincial/territorial health insurance plans.
💰 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.
The immediate need is to staff one position with a language requirement of English or French essential on an indeterminate basis.
A pool of qualified or partially qualified candidates may be created to staff similar or identical positions with various linguistic profiles, security requirements, tenures, or locations within the Office of the Superintendent of Financial Institutions (OSFI), which may vary according to the position being staffed.
Positions to be filled: 1
Your résumé.
ESSENTIAL EDUCATION
STREAM RE-05:
Graduation with a degree* from a recognized post-secondary institution with a specialization in actuarial science, mathematics or any other specialty related to the position.
AND
a) Successful completion of three (3) actuarial exams (or equivalent) towards the Fellowship of the Canadian Institute of Actuaries (or the Society of Actuaries or the Casualty Actuarial Society).
OR
b) Graduation with an actuarial science degree** from a CIA accredited university.
STREAM RE-06:
Graduation with a degree* from a recognized post-secondary institution with a specialization in actuarial science, mathematics or any other specialty related to the position.
AND
a) Fellow of the Canadian Institute of Actuaries.
OR
b) 8 years of relevant experience and the successful completion of three (3) actuarial exams (or equivalent) towards the Fellowship of the Canadian Institute of Actuaries (or the Society of Actuaries or the Casualty Actuarial Society) or Graduation with an actuarial science degree** from a CIA accredited university will be considered equivalent to the designation.
*The term degree refers to a baccalaureate or a higher level degree, as established by educational authorities.
**Refer to The Canadian Institute of Actuaries (CIA) Education for the full list of approved CIA accredited universities.
ESSENTIAL EXPERIENCE
STREAM RE-05:
• Significant* experience conducting actuarial valuations and providing cost estimates OR reviewing actuarial reports to provide actuarial advice.
• Experience in developing rationales in the selection of the assumptions used in actuarial reports OR in developing critical analysis about the assumptions used in actuarial reports.
STREAM RE-06:
• Significant* experience leading the preparation of actuarial valuations and cost estimates OR leading the review of actuarial reports to provide actuarial advice.
• Significant* experience in recommending and providing advice on the rationales in selecting the assumptions used in actuarial reports OR in providing critical analysis about the assumptions used in actuarial reports.
• Experience attending and participating in stakeholder meetings.
*Significant is defined as: the depth and breadth of experience that is normally acquired by performing related activities continuously over a 3 year period.
ASSET EXPERIENCE
STREAMS RE-05 AND RE-06:
• Significant* experience in using one or more of the following programming languages: Fortran, SQL, Visual Basic for Applications (VBA), SAS and ProVal.
*Significant is defined as: the depth and breadth of experience that is normally acquired by performing related activities continuously over a 3 year period.
Various language requirements
Various profiles: English Essential, French Essential or Bilingual Imperative BBB/BBB, Bilingual Imperative CBC/CBC (linguistic profile based on the position to be staffed)
Information on language requirements
ESSENTIAL KNOWLEDGE
STREAM RE-05:
• Knowledge of actuarial principles related to valuations of pension plans, or social security programs, or insurance or benefits programs.
• Knowledge of risks faced by pension plans, or social security programs, or insurance or benefits programs.
• Knowledge of the applicable Actuarial Standards of Practice of the Canadian Institute of Actuaries or the International Actuarial Association.
STREAM RE-06:
• Extensive knowledge of actuarial principles related to valuations of pension plans, or social security programs, or insurance or benefits programs.
• Extensive knowledge and understanding of risks faced by pension plans, or social security programs, or insurance or benefits programs.
• Extensive knowledge of the applicable Actuarial Standards of Practice of the Canadian Institute of Actuaries or the International Actuarial Association.
ESSENTIAL COMPETENCIES
STREAMS RE-05 AND RE-06:
• Collaboration
• Growth and Development
• Critical Thinking
• Inclusion
STREAM RE-05:
• Innovation
STREAM RE-06:
• Results Oriented
ESSENTIAL ABILITIES
STREAMS RE-05 AND RE-06:
• Ability to communicate effectively in writing.
• Ability to communicate effectively verbally.
• Advanced ability to use MS Excel and MS Word or similar softwares.
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 or more 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
STREAMS RE-05 AND RE-06:
• Ability and willingness to work overtime on occasion.
• Ability and willingness to travel on occasion within Canada when required.
Reliability Status security clearance
CONDITIONS OF EMPLOYMENT
STREAMS RE-05 AND RE-06:
• 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.
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).
• All written and verbal communication obtained throughout the staffing process, from the time of application to close of process, may be used to evaluate the candidate.
• Candidates must meet all of the essential qualifications to be appointed; however, depending on the requirements of the specific position(s) being staffed, one or more asset criteria or organizational need may be invoked at any stage of the process.
• Staffing 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.
• During the staffing process, various assessment methods can be utilized, including but not limited to written exams and interviews. These assessments may be conducted either remotely or in-person at one of our OSFI offices (Toronto, Ottawa, Montreal or Vancouver).
• 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.
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.