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:
The designated worksite for this position is the Toronto, Ontario OSFI Office. However, the employee may work from the Toronto, 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. OSFI executives are currently required to work in the office at least 16 days per month; however, this may be subject to change depending on new direction.
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.
This position within Banking Risk and Capital is responsible for leading a team of specialists involved in the review of financial institutions’ use and control of risk measurement models and analytics. Responsibilities will include directing, overseeing and monitoring the work of the group as well as providing consulting advice on risk measurement, risk analytics, and modelling practice issues to other OSFI divisions, and the executive group. 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 with a language requirement of English Essential on an indeterminate (permanent) basis.
A pool of qualified or partially qualified candidates may be created to staff similar or identical positions with various linguistic requirements and/or profiles, 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 experience and education or training.
NOTE: At the manager’s discretion, OSFI may consider candidates who do not possess a degree but meet the combination of experience and education or training if concrete examples are provided.
See link below for information on degree equivalency.
ESSENTIAL EXPERIENCE
• Recent and significant* experience in risk measurement, model development, model implementation, or model validation in the financial services industry.
• Recent and significant* experience identifying key model risks in the financial services industry.
• Experience in coaching, managing, or leading teams of people.
*Recent and significant is defined as the depth and breadth of the experience normally associated with the performance of the duties for a period of 3 years gained within approximately the last 5 years.
NOTE: Financial services industry includes, banks, credit unions, insurance companies, trust and loan companies, pension funds, rating agencies and credit bureaus and other relevant areas such as audit firms, consultant agencies, regulatory bodies, Indigenous insurance and lending institutions as well as pension plans.
ASSET EDUCATION
• A relevant recognized professional designation.
• A relevant graduate degree from a recognized post-secondary institution.
See link below for information on degree equivalency.
ASSET EXPERIENCE
• Experience with quantitative methods including statistical analysis and advanced analytics techniques (i.e. artificial intelligence or machine learning) in the financial services industry.
• Experience with monitoring or dashboard design & implementation.
• Experience with one or more of the following models used for risk measurement or management in the financial services industry:
- VaR models
- Counterparty credit risk models
- Treasury models
- Valuation and pricing models
- Other models deemed relevant
NOTE: Financial services industry includes, banks, credit unions, insurance companies, trust and loan companies, pension funds, rating agencies and credit bureaus and other relevant areas such as audit firms, consultant agencies, regulatory bodies, Indigenous insurance and lending institutions as well as pension plans.
English essential
Information on language requirements
ESSENTIAL KNOWLEDGE
• Knowledge of risk measurement practices in the financial services industry with respect to credit risk or counterparty credit risk.
• Knowledge of Basel model approval requirements for the financial services industry, including associated control expectations.
ESSENTIAL COMPETENCIES
• Leading People
• Inclusion
• Critical Thinking
• Collaboration
ESSENTIAL ABILITIES
• Ability to communicate effectively in writing.
• Ability to communicate effectively verbally.
ASSET KNOWLEDGE
• Knowledge of complex derivative products, banking products, or insurance products AND associated modelling practices.
• Knowledge of formal research techniques.
• Knowledge in data science analytic techniques (ie. predictive and prescriptive modelling).
• Knowledge in machine learning tools and algorithms.
• Knowledge in artificial intelligence applications.
• Knowledge in big data platforms.
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.
• Ability and willingness to travel internationally and/or domestically 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'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.