GC Jobs

Principal Analyst, Specialist, Senior Specialist

Reference number: SIF22J-091395-000019
Selection process number: 22/23-SIF-EA-8836
Office of the Superintendent of Financial Institutions Canada - Enterprise Risk Management; Strategy & Governance
Vancouver (British Columbia), Ottawa (Ontario), Toronto (Ontario), Montréal Island (Québec)
RE-05, RE-06, RE-07
$92,600 to $160,000 (RE-05 ($92,600 - $119,300); RE-06 ($109,700 - $141,900); RE-07 ($125,000 - $160,000))

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

Closing date: 8 January 2023 - 23:59, Pacific Time

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

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 hybrid model promotes a workplace in which, on any given day, there is a mixture of employees teleworking from alternative places within Canada, working onsite at their designated position location or from another OSFI office. We encourage candidates who want to work in one of OSFI’s offices to apply.

These positions are located in Toronto and Ottawa. However, the successful candidate may work from the Montreal, Ottawa, Toronto, or Vancouver office.

A flexible work arrangement can be established to allow for a combination of telework (work from home or a remote location within Canada outside of the traditional office) and onsite office work (the designated worksite or another OSFI office). While there is flexibility to report to an OSFI office (Toronto, Ottawa, Montreal, Vancouver) that is closest to your regular telework location, you may also be required to report into and work onsite from your designated worksite from time to time at management’s request.

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 “Aboriginal” is used within this job advertisement as it relates to the Employment Equity Act and other legislative frameworks. The term “Indigenous” 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


Enterprise Risk Management (ERM) is responsible for the enterprise-wide risk appetite framework that defines the risks that we are consciously willing to take in the pursuit of OSFI’s mandate and strategic objectives. It is also responsible to implement an effective second line challenge function over OSFI’s operations and business activities. ERM is seeking highly motivated individuals with experience in risk management to participate in the development and implementation of an effective ERM framework across OSFI.

Strategy and Governance is responsible for the development and implementation of OSFI’s strategic planning, governance and performance measurement frameworks and reporting. S&G is looking to recruit diverse and talented individuals for positions in the Strategic Governance Office and Corporate 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
• 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.

✈️ 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 one or more positions with a language requirement of English essential on an indeterminate basis. This process may also be used in the future to staff potential Manager and Senior Manager positions in the Strategy, Risk and Governance Sector that may be English essential or bilingual positions.

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: Number to be determined

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 business, commerce, economics, finance, mathematics, actuarial science, accounting or other relevant field OR an acceptable combination of relevant professional industry experience and education.

Degree equivalency

• Experience with a risk focus in one or more* of the following key areas:
o Risk Management
o Risk and Governance
o Internal Audit
o External Audit
o Line Management
o Finance
o Business Operations or Middle Office or Technology Operations.
• Experience in developing and implementing organizational policies and procedures.
• Experience in multi-stakeholder consultations and facilitation.
*NOTE: Please ensure that you provide details on each area that you have experience in.

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

Various language requirements
• English Essential
• Bilingual Imperative (CBC/CBC)

Information on language requirements

Second Language Writing Skills Self-Assessment
In order to help you decide if you should apply to a bilingual position, an optional self-assessment of your writing skills in your second official language is available for you to take before completing your application.

For more information, please consult:
Unsupervised Internet Test of Second Language Writing Skills

• Knowledge of risk management principles, practices, and/or techniques.

• Collaboration
• Innovation
• Interpersonal Communication
• Results Orientation
• Working as a Team
• Growth and Development

• Ability to communicate effectively in writing.
• Ability to communicate effectively verbally.
• Ability to analyze, assess and/or measure risk and/or provide advice on effective internal controls.
RE-06 and RE-07 ONLY:
• Ability to impact and influence various stakeholders across the organization

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

Asset qualifications are nice to have, but not essential to apply to the process. If you have any asset qualifications, be sure to include them in your application. Asset qualifications, such as experience, competencies, abilities and knowledge will vary depending on the position being staffed.

• A relevant graduate degree from a post-secondary institution.
• Professional designation in risk management with preferred specialization in Enterprise Risk Management (CRM-E or RF-E).
• A relevant professional designation.

Degree equivalency

• Experience in the implementation of enterprise-wide risk management frameworks and policies, including risk appetite frameworks, and monitoring the effectiveness of risk management activities across the organization.
• Experience in the assessment and implementation of ERM systems/tool that enable effective and efficient risk management.
• Experience in relationship management.
• Experience in project management.
• Recent and significant experience in risk management in the financial services industry*, which may include credit, market, operational, regulatory compliance and strategic.
• Recent and significant experience in internal or external audit in the financial services industry*.
• Recent and significant experience in financial analysis in the financial services industry*.

* Financial services industry experience is defined as experience working in a financial institution, including banks, trust and loan companies, and firms dealing with financial services audits, as well as government departments that directly deal with the supervision and regulation of these institutions, or other relevant areas.

• An understanding of OSFI’s role in the supervision of the Canadian Financial System and OSFI’s Supervisory Framework.
• Knowledge of the current and emerging risks in the financial services industry.

• Critical Thinking
• Impact and Influence
• Professional Judgment
RE-06 Manager and RE-07 Senior Manager ONLY:
• Leading People
• Inclusion

• Ability to demonstrate agility
• Ability to navigate through ambiguity

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, Aboriginal people, 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.

• Ability and willingness to work overtime.
• Ability and willingness to travel within Canada when required.

Conditions of employment

• Security – Reliability Status
• In our hybrid workplace environment, the ability to work remotely from home within Canada with access to the Internet in one’s residence is a condition of employment.

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 “EA” 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.

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: Toronto.HR@osfi-bsif.gc.ca. All information received in relation to accommodation will be kept confidential.


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.

Contact information

OSFI Staffing Team – Toronto


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