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, Toronto, Montreal or Vancouver 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.
Under the direction of the Managing Director, and in collaboration with other divisions in the Risk Advisory Hub and others in the broader Supervision Sector and other OSFI Sectors, the Director, Capital and Liquidity Standards Division is accountable for directing the analysis, formulation, interpretation, and promotion of regulatory rules, policies and guidelines relating to regulatory capital, liquidity, and other related requirements. In fulfilling the accountabilities for this position, the Director defines deliverables and timelines and manages and leads a team that is responsible for the analysis of emerging domestic and global risks that necessitate changing capital, liquidity and other related requirements for federally regulated financial institutions (FRFIs).
The Director provides leadership, direction and expertise to cross-sector teams within OSFI and industry advisory groups. They are also responsible for the ongoing training of OSFI staff in the application of capital, liquidity and other related requirements for FRFIs.
The Director and the Director’s staff may also represent OSFI on international and domestic working groups, committees or task forces to discuss and represent OSFI’s views pertaining to principles and standards relating to varied prudential issues affecting FRFIs.
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.
The immediate intent of this process is to fill one position on an indeterminate (permanent) 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.
Bilingual non-imperative: The individual appointed will either meet the language profile at the time of appointment, agree to attain the required level of language proficiency within two years of the date of appointment, or be exempted from meeting the language requirements of the position on medical grounds or as a result of their eligibility for an immediate annuity within two years of appointment.
A pool of qualified or partially qualified candidates may be created to staff similar or identical positions with various linguistic profiles (bilingual imperative, bilingual non-imperative, English essential or French Essential), security requirements, tenures, and/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
• A degree* from a recognized 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 or training.
*The term "degree" refers to a baccalaureate or a higher-level degree, as established by educational authorities.
ESSENTIAL EXPERIENCE
• Experience in making presentations to senior management** in the financial services industry***.
• Significant**** experience in developing recommendations and writing reports or briefing notes regarding risks associated with financial institutions or the broader financial sector.
• Experience in coaching, managing, or leading a team.
**Depending on the organizational structure, senior management could mean such levels of management as director level and above, or private-sector equivalent.
***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, 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.
****Significant is defined as the depth and breadth of the experience normally associated with the performance of the duties for a period of 5 years.
ASSET EDUCATION
• A Master’s degree from a recognized post-secondary institution with specialization in business, commerce, economics, finance, mathematics, actuarial science, accounting or other relevant field.
• A relevant recognized professional designation.
ASSET EXPERIENCE
• Significant* experience in regulating, identifying, or managing risks of financial institutions within a regulatory body, regulated financial institution, or a consultancy firm.
• Experience in a minimum of two complex** activities as follows: financial analysis, risk management, underwriting, actuarial valuation or pricing, asset-liability management, strategic and financial planning, treasury, compliance, or trading.
• Experience working directly with OSFI’s capital adequacy requirements in respect of a financial institution’s qualifying regulatory capital obtained through regulatory, industry, or consulting work.
*Significant is defined as the depth and breadth of the experience normally associated with the performance of the duties for a period of 5 years.
**Complex activities are activities 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.
Bilingual - Imperative (CBC/CBC)
Information on language requirements
ESSENTIAL KNOWLEDGE
• Knowledge of domestic and international capital frameworks (e.g., guidelines, instructions, reporting forms) applicable to federally regulated deposit-taking institutions.
• Knowledge of current and emerging trends and risks as they relate to federally regulated deposit-taking institutions.
• Knowledge of policy tools to assess, measure, and control risks undertaken by federally regulated deposit-taking institutions.
ESSENTIAL COMPETENCIES
• Collaboration
• Critical Thinking
• Leading People
• Inclusion
• Innovation
ESSENTIAL ABILITIES
• Ability to communicate effectively in writing.
• Ability to communicate effectively verbally.
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
• Ability and willingness to work overtime.
Secret security clearance
• 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.
• Ability and willingness to travel internationally and/or domestically when required.
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.