Director (REX-07), Actuarial Division

Office of the Superintendent of Financial Institutions Canada - Toronto, ON (30+ days ago)

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Office of the Superintendent of Financial Institutions Canada
Toronto (Ontario)
$136,500 to $170,500

For further information on the organization, please visit Office of the Superintendent of Financial Institutions Canada

Closing date: 23 August 2020 - 23:59, Pacific Time

Who can apply: Persons residing in Canada and Canadian citizens residing abroad.

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Important messages

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.

Assessment accommodation


OSFI’s Actuarial Division is seeking a highly motivated individual to join their team in the role of Director. The Director manages and directs a team of actuarial staff in the areas of property and casualty insurance and/or life insurance; directs the process of assessing the actuarial function in a portfolio of insurers in support of Supervision and in accordance with OSFI’s Supervisory Framework. The Director also provides technical actuarial support to the Supervision and Regulation Sectors, as requested.

Work environment

Who we are
The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada, established in 1987 to contribute to the safety and soundness of the Canadian financial system. OSFI supervises and regulates federally registered banks and insurers, trust and loan companies, as well as private pension plans subject to federal oversight.

What OSFI offers
OSFI is a separate agency that offers a competitive salary and eligibility for performance pay annually. People are the foundation of our organisation. 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.

Working at OSFI offers the following:
The work you do at OSFI matters. Your efforts contribute to the safety and soundness of the Canadian Financial Sector. A strong financial sector promotes competition, and benefits all Canadians.

Learning & Development
Our organisation understands that ongoing learning and development is critical and necessary, and must evolve with developments in the Financial Sector. Learning and Development is a component of our Human Capital Strategy.

Community & Culture
We strive to create a working environment that allows employees to work to their fullest potential. We strive to promote employee wellbeing, including a focus on balancing work and personal needs. Where available, we offer opportunities for flexible working arrangements.

As a Federal Government Agency, OSFI offers a number of competitive benefits to its employees, including a Defined Benefit Pension Plan, maternity and parental leave benefits, vacation (4 weeks), personal and family leave days.

Who you are

You should possess the following attributes:
  • You are an individual with a broad financial industry and risk management perspective.
  • You are keenly interested in contributing your expertise to promote a safer financial system.
  • You have sound knowledge of the current and emerging risks in the financial services industry.
  • You know the techniques used in the measurement and management of current and emerging risks.
  • You work well with others.
  • Your critical thinking skills help to inform your decision-making.
Intent of the process

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 and requirements, security profiles and various tenures.

Positions to be filled: 1

Information you must provide

Your résumé.

In order to be considered, your application must clearly explain how you meet the following (essential qualifications)

  • A degree from a post-secondary institution with specialization in actuarial science, mathematics, business, commerce, economics, finance, accounting or other relevant field OR an acceptable combination of relevant professional industry experience and education.
  • Fellowship in the Canadian Institute of Actuaries.
Degree equivalency

  • Recent and significant experience reviewing or preparing reports in one of the following areas within the financial services industry*: risk management, underwriting, actuarial valuation and/or pricing, asset-liability management and financial planning.
  • Recent and significant experience communicating to senior management complex risk management issues affecting multiple stakeholders.
  • Experience in leading, developing, and/or coaching staff.
  • Financial services industry includes experience working in a financial institution, including banks, insurance companies, pension funds, wealth management firms, and accounting firms (dealing with audits), as well as government departments that directly deal with the supervision and regulation of these institutions, or other relevant areas.
If you possess any of the following, your application must also clearly explain how you meet it (other qualifications)

You may be required to meet a combination of any of these asset experience criteria:
  • Experience in a second line function, a central support function or multiple lines of business in the financial sector or in financial sector regulation and supervision.
  • Experience leading or participating in technical committees of the actuarial profession.
  • Experience managing multiple projects.
The following will be applied / assessed at a later date (essential for the job)

English essential

Information on language requirements

  • Knowledge of emerging risks and current actuarial practices.
  • Knowledge of the Canadian Institute of Actuaries Standards of Practice as it applies to life insurance.
  • Knowledge of International Financial Reporting Standard 17 as it pertains to Canadian life insurance.
  • Collaboration: Sharing a community mindset, promoting cohesion and breaking down barriers.
  • Agility: Adapting to environmental complexities through innovation.
  • Transparency: Cultivating an open and trustworthy culture within the organization.
  • Integrity: Stepping up to the obligations of leadership with authenticity.
The following may be applied / assessed at a later date (may be needed for the job)

In addition to the Essential Qualifications identified above, please provide details if you possess one or more of the following Asset Education and Asset Experience criteria identified below.

  • A graduate degree from a post-secondary institution.
Degree equivalency

  • Extensive knowledge of the operations and structure of the Canadian life insurance industry and insurers.
  • Extensive knowledge of the legislative and regulatory framework applicable to federally regulated financial institutions.
  • Extensive knowledge of LICAT.
  • Extensive knowledge of the pricing, valuation, or risk management of segregated funds or participating insurance products.
  • Knowledge of OSFI’s Supervisory Framework.
  • Excellent oral communication skills
  • Excellent written communication skills
  • Change Leadership
  • Developing Others
  • Impact and Influence
  • Building Business Relationships
  • Critical Thinking
  • Results Orientation
  • Professional Judgment
In order to meet the organization’s employment equity objectives in support of a diversified workforce, ‘right fit’ selection for this position may be made from among qualified candidates who self-declare as being Persons with a disability or Aboriginal peoples.

  • Willingness to travel.
Conditions of employment

Reliability Status security clearance

  • Security – Reliability
  • In our current telework environment, the ability to work remotely from home with access to Internet in one’s residence is a condition of employment.
  • Agreement to be deployed into another REX position within OSFI at the same level.
Other information

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

Internal employees of OSFI at the same group and level may be considered and offered a deployment or assignment before considering other applicants.

For this selection process, it is our intention to communicate with candidates via email. Candidates must include a valid email address in their application. It is the candidate’s responsibility to ensure accurate information is provided and updated as required. As a result you must update your personal information on your Public Service Resourcing System profile if it changes.

Applicants must clearly demonstrate using sufficient details, how they meet the education and experience factors listed under the essential qualifications, as well as any of the asset qualifications that are applicable, including timelines of when this experience was gained (please indicate month and year). Lack of DETAILS may result in your application being rejected as the Assessment Board may have insufficient information to determine whether you meet the qualifications.

SCREENING QUESTIONS (if applicable):
It is the responsibility of the candidate to clearly outline that they meet each of the screening criteria (i.e. Education and Experience Qualifications, both Essential and Assets) by RESPONDING TO THE SCREENING QUESTIONS IN THE ONLINE APPLICATION. Please note that it is not sufficient to only state that the requirement is met or to provide a listing of current responsibilities, rather the candidate must provide concrete examples that illustrate how they meet the requirement. Your resume will be used to validate the answers provided; therefore, it should also contain sufficient details regarding your education and experience.

As part of the assessment, reference checks may be sought and candidates may be required to submit their performance reviews. For internal candidates of the Public Service, the Assessment Committee reserves the right to contact the internal candidates’ current manager(s).

Your application may be used to assess written communication.

The following options may be used at any stage of the selection process in the determination of those to be given further consideration: random selection, top down selection, or meeting any asset qualifications.
An assignment/secondment or an acting appointment requires approval of your supervisor.

OSFI is a separate agency with its own classification and compensation system. OSFI's staffing is subject to the Public Service Employment Act (PSEA).

The client organization will accept applications on-line only. All job applications must therefore be submitted through the Public Service Resourcing System. To submit an application on-line, please select the button 'Apply online' below. Persons with disabilities preventing them from applying on-line are asked to contact 1-800-645-5605.

Applicants with disabilities: If you require special accommodation at any stage in the selection process, including technical aid to ensure an equitable assessment of your qualifications, please inform us by sending an e-mail to the following address


Preference will be given to veterans and to Canadian citizens, in that order, 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.