Job Description

Office of the Superintendent of Financial Institutions Canada - Credit Risk Division
Ottawa (Ontario), Toronto (Ontario), Montr\xc3\xa9al Island (Qu\xc3\xa9bec)
EX-03, RE-REX-07 - NOTE: This position is classified at the REX-07 group and level which is roughly equivalent to the EX-03 group and level.
$147,900 to $184,700 For further information on the organization, please visit Office of the Superintendent of Financial Institutions Canada Closing date: 13 February 2023 - 23:59, Pacific Time Who can apply: Persons residing in Canada, and Canadian citizens and Permanent residents abroad. Apply online

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
POSITION LOCATION:
OSFI believes in offering employees flexibility and in creating a workplace that is productive, engaging, collaborative, and inclusive, all the while being supportive of employees\xe2\x80\x99 wellbeing. As such, OSFI is experimenting with a hybrid work model (a combination of telework and onsite work) that will shape how we use our physical workplace to establish new norms, ways of collaborating, and working together and will adjust its model based on lessons learned.

This position is located in Toronto. However, the successful candidate may report to the Toronto, Montreal, or Ottawa office for in office work.

Due to the nature of the work and operational requirements, this position requires physical presence (in-office work) from one of the following OSFI offices across Canada: Toronto, Montreal, or Ottawa. The option of teleworking is available on a part-time basis in accordance with OSFI\xe2\x80\x99s Guidelines on Telework. Teleworking arrangements are determined on a case-by-case basis depending on the nature of the work required by the position, the operational and business needs, as well as the candidate\xe2\x80\x99s work preferences.

EMPLOYMENT EQUITY:
OSFI is committed to achieving a representative workforce that reflects the diversity of the Canadian population. We are 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 invite you to be part of the change by joining an organization where individual differences are recognized, valued and respected. 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 \xe2\x80\x9cAboriginal\xe2\x80\x9d is used within this job advertisement as it relates to the Employment Equity Act and other legislative frameworks. The term \xe2\x80\x9cIndigenous\xe2\x80\x9d is used where possible, in alignment with the United Nations Declaration on the Rights of Indigenous Peoples.

Achieving a representative and diverse workforce has been identified as an organizational need for OSFI and may be applied at any time during 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. As such, first consideration for an appointment may be given to candidates who self-declare as belonging to one or more of the four designated employment equity groups (Persons with a disability, Aboriginal people, Members of a Visible Minority, or Women).

In order to self-declare, please ensure to check off the appropriate box within the online application under the Employment Equity section. We encourage you to consult theses links to learn more about employment equity and self-declaration:

• https://www.canada.ca/en/public-service-commission/jobs/services/gc-jobs/employment-equity.html
• https://www.canada.ca/en/public-service-commission/jobs/services/gc-jobs/applying-government-canada-jobs-how-to-apply.html#EE

Duties

Duties
Credit Risk Directors are accountable for providing strategic direction to the unit\xe2\x80\x99s activities in manner that aligns with OSFI\xe2\x80\x99s blueprint, strategic and operational plans, and priorities as well as in a manner consistent with OSFI\xe2\x80\x99s values, and Leadership Role Model. Activities include:

• Provide technical credit risk expertise across OSFI.

• Deliver credit risk analytical work to executives and other stakeholders, with a view to the development of appropriate risk mitigation programs and actions.

• Lead the planning and prioritizing of work including scheduling, effective and efficient resource allocation and ensuring alignment with OSFI\xe2\x80\x99s risk tolerance, organisational priorities, and mandate. In doing so, exercise agility to accommodate emerging priorities.

• Oversee effective execution of supervisory work (including risk surveillance and review activities), maintaining a robust quality assurance and consistency mechanism over supervisory work outcomes, including the documentation and presentation of conclusions and recommendations.

• Work closely with the Industry Surveillance team to identify emerging credit risk issues/themes and potential risks arising in institutions, to ensure the that the credit risk analytical work is appropriate and thorough.

• Assess inherent credit risk in capital markets and wholesale/commercial lending portfolios and activities.

• Champion a culture of continuous improvement to gain efficiencies, remove obstacles and increase effectiveness.

• Contribute to the development and ongoing implementation of OSFI\xe2\x80\x99s position on, and approach to, national and international standards, as it relates to credit risk.

• Represents OSFI\xe2\x80\x99s interests and positions with internal and external stakeholders including FISC partners and other regulators.

• Champion and foster collaborative working relationships with other divisions for mutual benefit.

• Promote and foster a cohesive team and positive work environment that encourages collaboration, information sharing and phycological safe work environment.

• Implement continuous talent management ensuring staff receive the support, training and feedback and coaching required to excel in their roles and succeed in their career aspirations. Maintain succession planning.

Work environment

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. 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

Our People and Culture:
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. We have several networks dedicated to ensuring that the department continues to grow as an inclusive, accessible, respectful and diverse workplace. All employees are encouraged and welcome to join the following networks and participate in their activities and events.

• Diversity of Thought
• Family Responsibilities
• Gender
• 2SLGBTQIA+
• Mental Health and Accessibility
• Multiculturalism (Affinity Groups: Indigenous, Asian, Black)
• Unconscious Bias

Hear about our people https://youtu.be/diUspmpYWQI

Our Rewards:
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.

Performance Pay: OSFI employees are eligible for an annual bonus based on their performance throughout the year.

\xe2\x9c\x88\xef\xb8\x8f 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.

Flexible Work Arrangements: OSFI offers flexible work arrangements by providing support for compressed work week schedules, flexible work hours and teleworking, in order for employees to achieve their work objectives while achieving balance between work and homelife.

Learning and Development: OSFI offers career advancement opportunities and encourages innovative thinking in its work environment. Employees may be reimbursed for relevant professional association membership fees.

Intent of the process

The immediate need is to staff three 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 profiles and requirements, security requirements and/or various tenures within the Office of the Superintendent of Financial Institutions (OSFI), which may vary according to the position being staffed.
Positions to be filled: 3

Information you must provide

Your r\xc3\xa9sum\xc3\xa9.

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

ESSENTIAL EDUCATION

• A degree from a recognized post-secondary institution with specialization in business, commerce, economics, finance, accounting or other relevant field OR an acceptable combination of relevant professional industry experience and education.

Degree equivalency
ESSENTIAL EXPERIENCE

• Recent and significant experience in analyzing credit risk reporting and risk management practices and identifying key risk considerations in the financial services industry*

• Recent and significant experience with credit risk allowance or capital allocation methodologies

• Recent and significant experience leading or directing meetings with executives

• Recent and significant experience in discussing emerging risks, evolving risks, credit underwriting trends and credit quality performance metrics

• Experience in coaching, managing or leading teams of people

• 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, and insurance companies (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) First Nation Institutions including: Band operations, trustees or administrators of pension plans, lending institutions or other related areas providing financial services (f) other relevant areas.

If you possess any of the following, your application must also clearly explain how you meet it (other qualifications)

ASSET EDUCATION

• A relevant graduate degree from a recognized post-secondary institution.
• A relevant financial designation.

Degree equivalency
ASSET EXPERIENCE

• Recent, comprehensive, and significant experience in the financial services industry* in two of the following areas:

o Credit risk management, including experience in portfolio management and credit strategy
o Conducting credit risk related assessments at the industry, sector and institutional level
o Credit underwriting including adjudication and oversight
o Audit of credit risk activities or quality assurance
o Supervisory or regulatory experience

• Experience with commercial, corporate lending or capital market activities (e.g.: commercial real estate, commercial lines of credit, equipment leasing, asset-based lending, trade finance, leveraged finance, high yield, specialized lending, structured credit/finance and counterparty credit risk)

• Experience in the development and application of loan loss methodologies

• Direct experience in the construct, collection, and assessment of credit risk data

• 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, and insurance companies (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) First Nation Institutions including: Band operations, trustees or administrators of pension plans, lending institutions or other related areas providing financial services (f) other relevant areas.

The following will be applied / assessed at a later date (essential for the job)

English essential Information on language requirements
ESSENTIAL KNOWLEDGE

• Knowledge of enterprise-wide credit risk management practices and enterprise-wide credit risk assessments.
• Knowledge of economic, financial and business indicators which impact credit risk.
• Knowledge of credit portfolio management theory, key credit risk drivers and credit portfolio reporting.
• Knowledge of current and emerging credit-related issues and trends.

ESSENTIAL COMPETENCIES

• Leading People
• Inclusion
• Transparency

ESSENTIAL ABILITIES

• Ability to communicate effectively in writing.
• Ability to communicate effectively verbally.

The following may be applied / assessed at a later date (may be needed for the job)

ASSET KNOWLEDGE

• Knowledge and understanding of risk assessment frameworks and financial analysis concepts

• Sound knowledge of bank risks and profiles, especially in relation to credit risk, and business model analysis

• Demonstrable track record of technical and quantitative analyses

• Knowledge of the oversight and control functions in financial institutions such as Risk Management, Risk Appetite, Senior and Operational Management, Internal Audit, Board, or other areas with particular emphasis on credit risk

• Knowledge of financial institutions\xe2\x80\x99 business units, products, and services with particular emphasis on credit risk

• Knowledge of innovative technologies that help manage credit risk exposure in the financial services industry

ASSET COMPETENCIES

• Critical Thinking
• Results Orientation
• Innovation

Conditions of employment

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\xe2\x80\x99s residence is a condition of employment.
• Agreement to be deployed into another REX position within OSFI at the same level.
• Ability and willingness to work overtime.
• Ability and willingness to travel internationally and/or domestically when required.

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 For external processes (as indicated by the abbreviation \xe2\x80\x9cEA\xe2\x80\x9d in the selection process number), only those selected for further consideration will be contacted.

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 ability to communicate effectively in writing may be assessed using the candidate\'s application, as well as through the evaluation process.

Assessments (such as written exams, interviews and reference checks) may be conducted virtually through email, telephone and/or videoconference.

Candidates must meet all of the essential qualifications to be appointed; however, one or more asset criteria may be invoked at any stage of the process.

Depending on the number of applicants, volume management 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.

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

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 used as the main method of communication with candidates for this selection process, please ensure it accepts messages from unknown users. Please note that you need to 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: HROstaffing@osfi-bsif.gc.ca. All information received in relation to accommodation will be kept confidential.

Preference

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.