Actuarial Officer (Development Program for Actuaries)

Office of the Superintendent of Financial Institutions Canada - Ottawa, ON (20 days ago)

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Office of the Superintendent of Financial Institutions Canada - The Office of the Chief Actuary
Ottawa (Ontario)
AC-01, RE-04 - NOTE: This position is classified at the RE-04 group and level which is roughly equivalent to the AC-01 group and level.
$72,600 to $93,600

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

Closing date: 20 December 2019 - 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


The Office of the Chief Actuary (OCA) has an important mandate in providing a range of actuarial valuation and advisory services to the Government of Canada. To perform its mandate, the OCA relies on the work of a highly qualified and professional workforce – a workforce that is largely comprised of actuaries.

Social Programs:
An Actuarial Officer on the Social Programs team participates in the preparation of statutory actuarial valuations for various Canadian social programs such as the Canada Pension Plan, the Old Age Security Program, the Canada Student Loans Program and the Employment Insurance Program. The Actuarial Officer also assists in the development of actuarial advice to the government on any cost impacts of potential changes to these programs as well as in the preparation of various actuarial studies.

Pension Arrangements:
An Actuarial Officer on the Pension team participates in the preparation of statutory actuarial valuations for all pension arrangements provided by the federal government to its various groups of employees, including the Public Service, Canadian Armed Forces, Royal Canadian Mounted Police, parliamentarians and federal judges. The Actuarial Officer also participates in the preparation of actuarial valuations to account for these pension arrangements in the Public Accounts of Canada (accounting valuations). In addition, the Actuarial Officer participates in the development of actuarial advice to the government on any impact on future costs of potential changes to pension arrangements.

Benefits Programs:
An Actuarial Officer on the Benefits team participates in the development of actuarial advice on Veterans benefits and group insurance benefit plans such as health, dental, disability and life insurance coverage for employees of the Public Service, Canadian Armed Forces and RCMP. The Actuarial Officer also assists with annual accounting valuations of some of these benefits as well as assisting with cost estimates of potential plan amendments.

About the Development Program for Actuaries:
At hire, the Actuarial Officer is enrolled in the Development Program for Actuaries (DPA). The DPA aims to develop high-calibre individuals. The development takes place through challenging work assignments, job coaching and a combination of formal and informal training, which sharpens the knowledge, skills and competencies of individuals in order for them to move to higher working level positions (RE-05 to RE-07).

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 organization. You will become part of a diverse community that acknowledges that 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 financial sector. A strong financial sector promotes competition, and benefits all Canadians.

Learning & Development
Our organization understands that ongoing learning and development is critical and necessary, and must evolve with developments in the Financial Sector. Learning and Development is a key 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. Subject to operational requirements, 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.

Intent of the process

The intent of this process is to fill three (3) vacancies on an indeterminate basis. Vacancies are to be filled in each team (social programs, pension arrangements and benefits programs). Candidates appointed to fill these vacancies will be enrolled into the Development Program for Actuaries of the Office of the Chief Actuary.

A pool of qualified or partially qualified candidates may be created to staff similar positions with various tenures (indeterminate, term, acting, etc.) and/or security requirements (reliability, secret, etc.) within the Office of the Superintendent of Financial Institutions.

Positions to be filled: 3

Information you must provide

Your résumé.

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

  • Graduation by the end of May 2020 with a degree* from a university with acceptable specialization in actuarial science, mathematics or any other specialty related to the position.
  • Successful completion of two (2) exams (or equivalent) towards the Fellowship of the Canadian Institute of Actuaries.
  • The term degree refers to a baccalaureate or a higher level degree, as established by educational authorities.
Degree equivalency

  • Experience in statistical analysis or in using actuarial valuation models for social insurance, pension or employee benefits programs.
  • Experience in using one of the following programming languages: Fortran, SQL, Excel, Visual Basic for Applications (VBA), SAS and ProVal.
The following will be applied / assessed at a later date (essential for the job)

Various language requirements
English or French Essential, Bilingual Imperative BBB/BBB, CBC/CBC

Information on language requirements

  • Knowledge of relevant programs such as the Canadian retirement system, social security programs, and/or public sector insurance and pension plans, and/or benefits to public sector employees and Veterans.
  • Knowledge of one of the following programming languages: Fortran, SQL, Excel, Visual Basic for Applications (VBA), SAS and ProVal.
  • Critical Thinking
  • Developing Myself
  • Innovation
  • Collaboration
  • Results Orientation
  • Good ability to communicate effectively orally.
  • Good ability to communicate effectively in writing.
The following may be applied / assessed at a later date (may be needed for the job)

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.

Conditions of employment

Reliability Status security clearance

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

In order for your application to be considered, you must submit a completed questionnaire. You will be required to demonstrate how you meet the education and experience criteria (essential and asset) for the initial screening, in answering online screening questions. It is NOT sufficient to only state that the qualifications are met or to provide a listing of current or past responsibilities. Rather, you must clearly demonstrate HOW, WHEN and WHERE the qualification was met through substantiation by examples. Information on your described education and experience provided in the screening questions should be supported by your résumé. Please note that your ability to communicate effectively in writing will be assessed throughout the application. Therefore, we recommend you use complete sentences where appropriate. Failure to provide the above information in the format required may result in your application being rejected from the process.

A written examination may be administered.

An interview will be administered.

Reference checks may be sought.

Please note that OSFI has offices located in Ottawa, Toronto, Montreal, and Vancouver. If you are screened in, you may be required to travel to one of these locations to complete assessment (exam, interview, etc.).

Candidates invited to an interview will be required to bring proof of their education credentials, in the form of a diploma or official transcript (original documents only). Candidates with foreign credentials must provide proof of Canadian equivalency. Consult the Canadian Information Centre for International Credentials for further information at

Candidates must meet all of the essential qualifications to be appointed to a position. A candidate may be appointed to a position even though he/she does not meet any or all of the asset qualifications. However, meeting these criteria is desirable and may be a deciding factor in choosing the person to be appointed.

Depending on the requirements of the position(s) being staffed from this process, for current or future vacancies, any or all of the asset qualifications, operational requirements, and organizational needs may be applied at the time of staffing. Candidates may be contacted and assessed against these criteria at any time during this process.

Achieving a representative workforce has been identified as an organizational need and may be applied in this appointment process. If this criterion is used, only those who have indicated that they are members of the specified designated group(s) will be considered.
A top down selection of candidates may be used in the determination of those to be given further consideration in the assessment process.

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.

For this selection process, our intention is to communicate with applicants by e-mail (including sending invitations for written tests and interviews). Applicants who apply to this selection process must include in their application a valid e-mail address and make sure this address is functional at all times and accepts messages from unknown users.

All job applications must be submitted through the Public Service Resourcing System (PSRS). Do not fax or mail hard copy documents as these will not be accepted. To submit an application online, please click on the button "apply now".

If you do not have Internet access in your home or through friends, relatives or neighbours, here are some suggested locations: campus career centers, libraries, community centers, Internet cafés and Services Canada. You may also call 1-800-O-Canada (1-800-622-6232), or TTY 1-800-926-9105, for information on the nearest public Internet access locations.

Persons with a disability 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:

As a Separate Agency, the Office of the Superintendent of Financial Institutions (OSFI) appoints employees in accordance with the Public Service Employment Act (PSEA). OSFI is named in Schedule V of the Financial Administration Act (FAA) and it offers the same pension and benefits plans as the core Federal Public Service. In addition to this, OSFI employees obtain a minimum of 4 weeks of vacation leave per year, earn a competitive salary, and are eligible for an annual performance bonus.


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.