Selection Process Number:

26-27-SIF-EA-JR100597

Division:

Insurance

Group and Level:

REX 07

Salary Range:

$167,700.00 - $209,400.00

Employment Tenure:

Indeterminate

Positions Available:

1

WHO CAN APPLY

Persons residing in Canada, and Canadian citizens and Permanent residents abroad.

IMPORTANT INFORMATION

This poster will close at 12:00 AM EST on the posting’s indicated closing date (note that for those in the Pacific Time Zone, this corresponds to 9:00PM PST on the previous day). To be considered, your application must be submitted before the specified deadline. If you experience any technical issues submitting your application, please email a screenshot of the issue to [email protected].

Due to weekly system maintenance, Workday will be unavailable for 3 hours every Friday from 11pm to Saturday 2am EST.

Applicants must submit a resume as part of this job application. Do not include a cover letter as part of your submission.

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.

Information on assessment accommodation.

POSITION DETAILS

CLASSIFICATION This position is classified at the REX-07 group and level which is roughly equivalent to the EX-03 group and level.

LOCATION

These positions are located in Toronto. Working from the Ottawa, Montreal or Vancouver office may be approved, depending on worksite availability. Due to the nature of the work and operational requirements, these positions require full-time physical presence in the office. As such, these positions are not suitable for telework.

PROCESS INTENT

The immediate need is to staff one position with a language requirement of English essential on an indeterminate basis in the Insurance Division. 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.

KEY RESPONSIBILITIES

The Director, Insurance Supervision (the Director) is responsible for leading, developing, and coaching a team of supervisory staff responsible for the supervision of one or more insurers. Key responsibilities include risk identification and assessment, planning, directing, and overseeing supervisory activities while ensuring that work is risk focused, aligned with our mandate, supports timely intervention activities, and is consistent with our risk driven resource allocation requirements. The Director is also responsible for supervisory work supporting new applicants. Collaborating with supervisory teams across the Risk Assessment and Intervention Hub (RAIH) as well as specialists is an significant element of the Director’s role. Specialists include varied teams in Risk Advisory Hub (RAH); Risk, Strategy and Policy Sector (RSP); and Integrity, National Security and Integrated Solutions Sector (INSIS). Primary objectives of such collaboration include ensuring timely and appropriate risk assessments and contributing to consistency in supervisory processes across RAIH.

The Director is also responsible for interagency liaison on key files.

In addition, the Director is committed to providing meaningful and timely insights and advice to management, as needed, to enhance the quality and consistency of supervisory outputs and effectiveness. The Director also has an opportunity to influence supervisory methods and regulatory policy, where appropriate, by identifying potential impacts reflecting their knowledge of the industry and supervised financial institutions.

ESSENTIAL QUALIFICATIONS

OFFICIAL LANGUAGE PROFICIENCY

- English Essential

Information on language requirements In order to be considered, your application must clearly explain how you meet each of the following education and experience criteria. ESSENTIAL EDUCATION

- A degree from a recognized post-secondary institution with specialization in business, commerce, economics, finance, mathematics, actuarial science, accounting, or a related field OR an acceptable combination (1*) of relevant experience and education or training.

NOTE: (1*) 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.

Information on degree equivalency

ESSENTIAL EXPERIENCE

- Significant (2*) insurance industry (either life or property and casualty) experience in both of the following:
- managing a team or managing projects that involve people leadership AND




- developing and delivering presentations to senior management (3*) or boards of directors of financial institutions
- Significant (2*) insurance industry (either life or property and casualty) experience in either one of the following:
- identifying, assessing, and critiquing financial or non-financial risk in financial institutions OR
- managing and controlling financial or non-financial risk in financial institutions

Note (2*) 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 years. Candidates must clearly demonstrate their roles and responsibilities pertaining to this experience.

(3*) Senior management refers to C-suite executives such as chief executive officer, chief financial officer, and chief risk officer.

The following essential knowledge, competencies and abilities will be assessed at a later date.

ESSENTIAL KNOWLEDGE

Knowledge of

- insurers including the range of products and business models
- governance and risk management practices employed by insurers to monitor and control their key risks
- major domestic regulatory or legislative requirements affecting insurers
- current and emerging trends and risks as they relate to the insurance industry

ESSENTIAL COMPETENCIES

- Leading people

- Inclusion

- Results orientation

- Critical thinking

ESSENTIAL ABILITIES

- Ability to communicate effectively in writing
- Ability to communicate effectively verbally

ASSET QUALIFICATIONS

If you possess any of the following education or experience criteria, your application must clearly explain how you meet them (may be needed for the job). ASSET EDUCATION

- A relevant graduate degree from a recognized post-secondary institution (for example, MBA, MAcc., MFin., or other relevant graduate degree).
- A relevant professional financial designation (for example, CERA, CPA, CA, CGA, CMA, CFA, FRM, FCIA, or other relevant designation).

ASSET EXPERIENCE

- Significant (*2) experience in one or more financial or non-financial risk areas such as (but not limited to):
- insurance risk
- reinsurance risk
- investment risk
- market risk
- liquidity risk
- asset-liability management
- technology and cyber risk
- Extensive (4*) experience identifying, assessing, and critiquing financial or non-financial risk in financial institutions
- Extensive (4*) experience managing and controlling financial or non-financial risk in the financial institutions.
- Extensive (4*) experience leading people in the development and execution of complex (5*) initiatives, whether as a people manager or project lead.

Note (2*) 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 years.

(4*) 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 years. Candidates must clearly demonstrate their roles and responsibilities pertaining to this experience.

(5*) Complex initiatives are initiatives with at least three of the following characteristics: multidimensional, sensitive, confidential, affecting many partners or stakeholders, precedent setting, having a major impact on the service or program delivery.

OPERATIONAL REQUIREMENTS

- Ability and willingness to work overtime.
- Ability and willingness to travel domestically and internationally when required.

CONDITIONS OF EMPLOYMENT

- Security – Reliability
- The ability to work remotely from home within Canada with access to the Internet in one’s residence is a condition of employment.
- Working on-site on a full-time basis from the OSFI office.
- Agreement to be deployed into another REX position within OSFI at the same level.

ORGANIZATIONAL NEEDS

- Retaining OSFI affected/opting employees.
- 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, Indigenous Peoples, 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.

OTHER INFORMATION

- Organizational needs may be applied first, therefore, OSFI affected/opting employees may be given first consideration over other applicants. Please note that in some cases deployments may also be considered for the retention of employees.
- 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. Employment equity - Canada.ca
- 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 those who applied; however, only candidates selected for further consideration will be contacted.
- Eligible candidates may be considered and offered a deployment before considering other applicants.
- A DEPLOYMENT is a permanent movement of an employee at level or equivalent level within an organization to another organization in the core public administration, the OAG, or to the five separate agencies named in Schedule V to the FAA whose appointments are made in accordance with the Public Service Employment Act (PSEA). A deployment does not constitute a promotion or change a person's period of employment from a specified term to indeterminate.
- The use of generative artificial intelligence (AI) tools, sites, and applications based on large language models (e.g. ChatGPT, Dall-E, Microsoft Copilot), is permitted for this application. You must cite any AI tool used by identifying the AI-generated content and its source.
- 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).
- Candidates are entitled to participate in the appointment process in the official language of their choice.
- Email correspondence will be the primary method of communication with candidates for this selection process. Ensure you check your spam folder for any communications from OSFI ([email protected]). You must provide valid and updated contact information.
- All job applications must be submitted through Workday: OSFI’s recruiting platform. Do not email your application as it will not be accepted. To submit an application online, please click on the "Submit" button.
- 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: [email protected]. All information received in relation to accommodation will be kept confidential.

- You are responsible for ensuring that the personal information provided in your candidate profile in Workday is accurate and up to date (e.g., contact information, status of any priority entitlements, veteran/mobility status, citizenship, etc.). If your personal information needs to be updated after you have submitted your application, you must contact us at [email protected].

Failure to do so may mean that you are either not considered or eliminated from the process.

CONTACT INFORMATION

OSFI Staffing Team EMAIL: [email protected]

PLEASE DO NOT APPLY TO THIS EMAIL ADDRESS, USE THE APPLY BUTTON.

📌 Director - Insurance Supervision (Toronto)
🏢 Bureau du surintendant des institutions financières Canada
📍 Toronto