Director - Banking Risk and Capital (Credit Risk) Division

Selection Process Number:

26-27-SIF-EA-JR100734

Division:

Banking Risk and Capital

Group and Level:

REX 07

Salary Range:

$167,700.00 - $209,400.00

Employment Tenure:

Indeterminate

Positions Available:

1

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 10:00 PM 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.

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.

COVER LETTER AND RESUME

Applicants must submit a resume and cover letter as part of this job application. In your cover letter, briefly describe your background and unique competencies that make you a good candidate for this role. Your written cover letter and application will be part of the assessment of your ability to communicate effectively in writing.

POSITION DETAILS

CLASSIFICATION

This position is classified at the REX-07 group and level which is roughly equivalent to the EX-03 group and level.

LOCATION

The designated worksite for this position is the Toronto, Ontario OSFI Office, which will be considered the employee’s regular place of work. Executive (REX) positions require full-time physical presence in the office. As such, this position is not suitable for telework.

PROCESS INTENT

The immediate need is to staff one position 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

Directors within the Credit Risk Division are accountable for providing strategic direction to the unit’s activities in manner that aligns with OSFI’s priorities in a manner consistent with OSFI’s values, and Leadership Model. Activities include:

• Providing technical credit risk expertise across OSFI.

• Leading the planning and prioritizing of work including scheduling, effective and efficient resource allocation and ensuring alignment with OSFI’s risk tolerance, organisational priorities, and mandate. In doing so, exercising agility to respond to emerging priorities.

• Overseeing 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.

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

• Contributing to the development and ongoing implementation of OSFI’s position on, and approach to, national and international standards, as they relate to credit risk.

• Representing OSFI’s interests and positions with internal and external stakeholders including FISC partners and other regulators.

• Providing ongoing talent management to ensure employees receive the support, training and feedback and coaching required to excel in their roles and advance their career aspirations, while maintaining effective succession planning.

ESSENTIAL QUALIFICATIONS

Official Language Proficiency

• English Essential

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 business, commerce, economics, finance, accounting or other relevant field.

OR

An acceptable combination (1*) of relevant experience AND education or training.

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

IMPORTANT NOTE: Foreign education and Canadian equivalency

All candidates with foreign education credentials (i.e., any education obtained outside of Canada) must obtain the Canadian equivalency. If you currently have foreign education credentials, please initiate the process of obtaining this equivalency as soon as possible to avoid unnecessary delays, as this process can take up to several months. The following link contains information on the institutions that provide this service: Foreign Credential Validation against Canadian Standards. Only equivalencies provided by the listed institutions will be considered valid and acceptable.

ESSENTIAL EXPERIENCE

• Recent and significant (2*) experience managing wholesale credit or counterparty credit risk within the financial services industry (3*), involving corporate, institutional, or specialized lending, in one or more of the following areas:
  • Credit adjudication
  • Transaction structuring
  • Credit risk management, such as portfolio analytics, risk rating methodologies, or policy development
• Experience (4*) leading or directing meetings with executives
• Experience (4*) in coaching, managing, and/or leading a team

NOTE:

(2*) Recent and significant is defined as the depth and breadth of experience normally associated with the performance of the duties for a period of 5 years within approximately the last 8 years.

(3*) Financial services industry includes, banks, credit unions, insurance companies, trust and loan companies, pension funds, rating agencies and credit bureaus and other relevant areas such as audit firms, consultant agencies, regulatory bodies, Indigenous insurance and lending institutions as well as pension plans.

(4*) Experience is understood to mean the depth and breadth of experience normally associated with having performed a broad range of related activities. The amount of complexity and the diversity of tasks, as well as the autonomy level will be taken into consideration

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

ESSENTIAL KNOWLEDGE

• Knowledge of wholesale credit risk drivers and wholesale credit risk management practices
• Knowledge of wholesale credit products

ESSENTIAL COMPETENCIES

• Critical thinking
• Results orientation
• Collaboration
• Leading people
• Inclusion

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

ASSET EXPERIENCE

• Experience (4*) leading complex or sensitive, multidisciplinary projects.
• Experience (4*) estimating allowance for credit loss (ACL) under IFRS 9.
• Experience (4*) developing credit risk models.

NOTE:

(4*) Experience is understood to mean the depth and breadth of experience normally associated with having performed a broad range of related activities. The amount of complexity and the diversity of tasks, as well as the autonomy level will be taken into consideration.

OPERATIONAL REQUIREMENTS

• Ability and willingness to work overtime.
• Ability and willingness to travel internationally and/or domestically when required.

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.
• Working on-site on a full-time basis from the OSFI office.
• Agreement to be deployed into another REX position within OSFI at the same level.

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.
• The use of generative artificial intelligence (AI) tools, sites, and applications based on large language models (e.g. ChatGPT, Dall-E, Microsoft Copilot), is permitted for this application. You must cite any AI tool used by identifying the AI-generated content and its source.
• 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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