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 Toronto, Ontario, OSFI Office, which will be considered the employee’s regular place of work.
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.
The Director (REX-07) position is part of the Market and Liquidity Risk Division (MLRD). MLRD is involved in the supervision and assessment of inherent liquidity risk, trading and non-trading market risk, counterparty credit risk, and the associated controls in federally regulated financial institutions (FRFIs) and federally regulated private pension plans. The Director is accountable for providing risk assessment and monitoring activities in liquidity risk as part of OSFI’s supervisory process. Leading, developing, and coaching staff are key responsibilities of this position.
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 need is to staff one position on an indeterminate (permanent) basis, with a language requirement of English Essential.
This selection process may be used to establish a pool of qualified candidates, which could be used to staff similar or identical positions with various linguistic profiles (bilingual imperative, bilingual non-imperative, English essential, or French 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
Your résumé.
ESSENTIAL EDUCATION
• A degree* from a post-secondary institution with specialization in finance, risk management, mathematics, actuarial science, economics, accounting, computer science, or other relevant field OR an acceptable combination** of relevant experience AND education or training.
*The term "degree" refers to a baccalaureate or a higher-level degree, as established by educational authorities.
**At the manager’s discretion, OSFI may consider candidates who do not possess a degree or diploma but meet the combination of experience and education or training if concrete examples are provided.
ESSENTIAL EXPERIENCE
• Experience in coaching, managing, or leading teams of people.
• Extensive* experience in large deposit-taking institutions (DTIs) assessing risk exposure, risk taking strategies, risk mitigating strategies, or risk management practices, or equivalent experience in consulting to the large DTIs.
• Significant** and recent*** experience in one or both of the following areas:
- Liquidity risk management in banking or capital market businesses in the 1st line or 2nd line functions
- Liquidity crisis management and contingency planning
• Experience in interpreting liquidity regulation and implementing internal and external liquidity reporting in large DTIs.
*Extensive is defined as having the depth and breadth of experience that is normally acquired through the direct responsibility for a wide variety of complex files or projects by performing the tasks over a period of approximately five (5) years. Candidates must clearly demonstrate their roles and responsibilities pertaining to this experience.
**Significant is defined as having the depth and breadth of experience that is normally acquired through the direct responsibility for a wide variety of complex files or projects by performing the tasks over a period of approximately three (3) years. Candidates must clearly demonstrate their roles and responsibilities pertaining to this experience.
***Recent is defined as ANY relevant experience gained within approximately the last 5 years.
ASSET EDUCATION
• A relevant graduate degree from a recognized post-secondary institution.
• A relevant professional financial designation (for example, MBA, CERA, CA, CGA, CMA, CFA, or other relevant designation).
ASSET EXPERIENCE
• Experience in synthesizing information and delivering presentations to senior management*.
• Experience with managing interest rate risk in the banking book, or investments, or front-office trading.
• Experience in capital reporting or management.
• Experience in contributing to the development of risk management framework and policies for capital markets or treasury activities in institutions.
*Depending on the organizational structure, senior management could mean such levels of management as the Managing Director level and above, or private-sector equivalent.
English essential
Information on language requirements
ESSENTIAL KNOWLEDGE
• Knowledge of risk management practices related to liquidity risk.
• Knowledge of key functions and operating models related to liquidity risk management in large DTIs.
• Knowledge in corporate treasury activities and trading business.
• Knowledge of banking products and capital markets instruments.
• Knowledge of risk trends and key developments in domestic and international liquidity risk regulations.
ESSENTIAL COMPETENCIES
• Leading People
• Inclusion
• Critical Thinking
• Collaboration
• Innovation
ESSENTIAL ABILITIES
• Ability to communicate effectively in writing.
• Ability to communicate effectively verbally.
ASSET KNOWLEDGE
• Knowledge of risk models, stress testing, or other assessment techniques
• Knowledge of accounting concepts and methodologies
• Knowledge of banking or insurance regulations.
• Knowledge of key functions and participants in the financial market.
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.
OPERATIONAL REQUIREMENTS
• Ability and willingness to work overtime.
• Ability and willingness to travel within Canada when required.
• Ability and willingness to travel internationally when required.
Reliability Status 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.
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.