Selection Process Number:

Group and Level:

Salary Range:

Employment Tenure:

Positions Available:

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 RE-06 group and level which is roughly equivalent to the CT-FIN-04 group and level.

LOCATION:

This position is located in Toronto. Other satellite locations such as Ottawa, Montreal and Vancouver may be approved, depending on worksite availability.

OSFI’s work 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 related organizational directions. These arrangements must be reviewed annually, at a minimum, and can be subject to change.

SALARY

The RE-06 salary is from $124,500 to $160,800.

PROCESS INTENT

The immediate need is to staff two (2) Specialist positions with a language requirement of English essential on an indeterminate 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.

KEY RESPONSIBILITIES:

The Market and Liquidity Risk Division is seeking highly motivated individuals to join the team as a Specialist. The positions will be part of a team involved in the analysis of federally regulated financial institutions (FRFIs) inherent market risk, and assessment of related controls over such risks. The successful candidates will have increasing levels of responsibility for leading various work streams and contribute to the leadership and operations of the group.

As a subject matter expert, the Specialists will:

• Apply advanced knowledge of non-trading market risk, particularly interest rate risk in the banking book (IRRBB), to conduct in-depth analysis, support supervisory assessments, and identify emerging risks.
• Lead discussions with financial institutions pertaining to non-trading market risk topics.
• Conduct complex reviews and ongoing monitoring of IRRBB, prepare formal reports, and communicate assessments to various internal and external stakeholders including senior executives.
• Enable collaboration within MLRD and across OSFI to drive outcomes aligned with our mandate.
• Contribute to building an agile, risk responsive, continuous monitoring process that adapts to the evolving risk environment.

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 OR diploma from a recognized post-secondary institution with specialization in finance, risk management, financial engineering, accounting, computer engineering, economics, or other relevant field.

OR

• An acceptable combination* of relevant professional industry experience AND education or training.

*At the manager’s discretion, OSFI may consider candidates who do not possess the stated education but meet the combination of experience and education or training if concrete examples are provided.

Information on degree equivalency

ESSENTIAL EXPERIENCE:

• Significant (1*) experience in the financial services industry (2*), in one or more of the following areas:
  • Market risk management
  • Corporate treasury
  • Front-office trading
  • Investment management
  • Central banking
  • Model risk management and/or validation
  • Financial or risk consulting

• Experience in critiquing risk management practices and identifying key risk areas in the financial services industry (2*).

*NOTE:

(1*) 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.

(2*) 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.

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

ESSENTIAL KNOWLEDGE:

• Knowledge of the business and environmental factors including current and emerging key risks as they relate to the financial services industry.

• Knowledge of the assessment of risk and risk management practices related to IRRBB.

ESSENTIAL COMPETENCIES:

• Collaboration
• Critical Thinking

• Results Orientation

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.

• A relevant recognized professional designation such as CFA, FRM, or PRM.

ASSET EXPERIENCE:

• Experience in writing reports and making presentations to a range of stakeholders.
• Experience in supervising, examining or auditing financial institutions.

• Experience in computer programming, data management or financial modelling.

The following asset knowledge and competencies may be assessed at a later date.

ASSET KNOWLEDGE:

• Knowledge of OSFI’s Supervisory Framework.
• Knowledge of risk and portfolio management processes.
• Knowledge of relevant governing legislation and key developments.

ASSET COMPETENCIES:

• Interpersonal Communication
• Leading People
• Inclusion

CONDITIONS OF EMPLOYMENT

• Security – Reliability Status
• The ability to work remotely from home within Canada with access to the Internet in one’s residence is a condition of employment.
• Ability and willingness to work overtime, when required.
• Ability and willingness to travel within Canada when required.
• Ability and willingness to travel internationally when required.

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.
• This process may also be used to staff a Manager position.
• The use of generative artificial intelligence (AI) tools, sites, and applications based on large language models (e.g. ChatGPT, Dall-E, Microsoft Copilot), is forbidden for this application. Plagiarism from any source, or the use of generative AI from any source, may be investigated and result in serious consequences, including the invalidation of your application and consequently, elimination from this selection process.
• 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]

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