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 Managing Director, Market and Liquidity Risk Division is responsible for directing a centre of expertise in an area of financial risk, such as liquidity risk, trading market risk, non-trading market risk, and counterparty credit risk. The MD manages the specialist support to OSFI’s lead supervisors in risk assessments of federally regulated financial institutions (institutions) and fedreall regulated pension plans (pension plans) in accordance with OSFI’s Supervisory Framework, works collaboratively across OSFI in developing and implementing OSFI regulations, and other broader initiatives. The successful candidate will possess varied and solid experience in the financial services industry and an in-depth understanding of current business issues and trends in the environment. Developing, coaching, and leading staff (at all levels, including executive) is a key responsibility 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
• Leadership experience at the executive level managing a team.
• Significant* experience in leading, planning, and carrying forward multi-step or multi-disciplinary initiatives.
• Significant* experience working with the assessment, management, or control of financial risk in the financial services** industry.
• Significant* experience working within the financial services industry**, consulting to the financial services industry**, or in the supervision of financial institutions in one or more of the following areas:
- Treasury activities in one of the following functions: asset-liability management, liquidity risk management, funding, or front-office and cash management
- Capital markets groups in one of the following functions: front-office trading, trading floor support, or middle-office risk controls
- Risk management functions supporting treasury or capital markets groups
*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.
**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.
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
• Significant* experience in the management of a capital markets operation, including the front, middle, or back offices.
• Significant* experience with developing risk management framework and policies for capital markets or treasury activities in financial institutions.
• Experience with investment risk or pensions.
• Experience in capital management, forecasting, or planning.
*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.
English essential
Information on language requirements
ESSENTIAL KNOWLEDGE
• Knowledge in one or more of the following risk areas: liquidity, trading market risk, non-trading market, or counterparty credit risk.
• Knowledge of key financial products and instruments for trading and banking businesses, their risk charteristics, and implications to financial institutions.
• Knowledge of domestic financial institutions including their business models and organizational structures.
• Knowledge of market environments and key market functions and activities impacting the working of the financial system and its participants.
• Knowledge of governance and the risk management and internal control practices currently employed in trading or treasury activities.
ESSENTIAL COMPETENCIES
• Leading people
• Inclusion
• Critical thinking
• Collaboration
• Results orientation
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, including methods to assess and monitor such models.
• Knowledge of international developments in banking or insurance regulations.
• Knowledge of non-regulated financial institutions or other businesses involved in financial services in Canada and broader risk trends in the context of emerging risks.
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.