Senior Manager, Senior Specialist

Employment and Social Development Canada; Ontario; Hybrid; CAD 141,000 - 182,000; Full time

Job summary

The Office of the Superintendent of Financial Institutions Canada is seeking a Senior Manager in Risk Quantification. The role involves expertise in financial risk analysis and innovative technologies like AI and machine learning. Candidates should possess significant experience in the financial industry, focusing on risk management and quantitative analysis within a collaborative environment.

Benefits

Public Service Pension Plan

Health Care Coverage

Flexible work arrangements

4 weeks paid vacation

Learning and development opportunities

Annual performance bonus

Qualifications

• Degree or diploma in finance, economics, financial mathematics required.
• Significant experience in quantitative assessment and financial services industry.
• Experience with AI/ML techniques is an asset.

Responsibilities

• Provide integrated assessments of systemic vulnerabilities and risks.
• Design and execute stress test programs.
• Develop tools for credit and liquidity assessments.

Skills

Quantitative risk management

Financial industry perspective

Critical thinking

Education

Degree in finance, economics, or financial mathematics

Job description

Reference number: SIF25J-142395-000045
Selection process number: 25-26-SIF-EA-11244

Office of the Superintendent of Financial Institutions Canada- Risk Quantification
Vancouver(British Columbia),Ottawa(Ontario),Toronto(Ontario),Montréal Island(Québec)
EX-01, RE-07- NOTE: This position is classified at the RE-07 group and level which is roughly equivalent to the EX-01 group and level. This is not an executive position; however, the salary is roughly equivalent.
Indeterminate
$141,800 to $181,300

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

Closing date:25 June 2025 - 23:59, Pacific Time

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

Apply online

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.

POSITION LOCATION:
The designated worksite for this position is the Toronto, Ontario OSFI Office. However, the employee may work from the Toronto, Ottawa, Montreal or Vancouver office.

OSFI’s hybrid model includes telework and mandatory onsite presence. The terms of the employee’s telework arrangement will be established in accordance with the Directive on Telework and the Guidelines on Hybrid Work. These arrangements must be reviewed annually, at a minimum, and can be subject to change.

EMPLOYMENT EQUITY:
OSFI is 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 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. Indigenous refers to North American Indigenous people as members of First Nations, Inuit, or Métis. North American Indigenous people or members of First Nation include treaty, status or registered Indigenous people, as well as those non-status and non-registered.

Duties

What you will be doing:
The Risk, Strategy and Policy Sector, Risk Quantification Division is seeking individuals with expertise in financial and economic risk analysis; quantitative risk management and modelling; and/or the application of new technologies such as machine learning and artificial intelligence in finance. Depending on your expertise you will take a leadership role in:
- Providing integrated assessments of systemic vulnerabilities, risks and macroprudential tools.
- Designing and executing stress test programs.
- Developing tools and risk models for credit, capital and liquidity assessments.
- Contributing to advancing OSFI’s use of innovative technologies for risk quantification.

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 work well with others.
- Your critical thinking skills help to inform your decision-making.

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 and to ensure they protect themselves against threats to their integrity and security. 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

Why Choose OSFI:
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. OSFI is passionate about fostering a workplace where all people feel welcome, can reach their full potential, and contribute their unique perspectives and experience to the success of the team. We have several networks dedicated to ensuring that the department continues to grow as an inclusive, accessible, respectful, and diverse workplace. Some examples include: 2SLGBTQIA+, Mental Health and Accessibility, Multiculturalism (Affinity Groups: Indigenous, Asian, Black), Unconscious Bias.
Hear about our people https://youtu.be/diUspmpYWQI

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.
Health Care Coverage: OSFI employees and their dependents are eligible to be enrolled in the Public Service Health Care Plan, designed to supplement provincial/territorial health insurance plans.
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

This is an anticipatory process to staff Senior Manager or Senior Specialist positions in the Risk Quantification Division.

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.

Positions to be filled:Number to be determined

Information you must provide

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

ESSENTIAL EDUCATION
• A degree OR diploma from a recognized post-secondary institution with specialization in finance, economics, financial mathematics
OR
An acceptable combination of relevant experience AND education or training.

NOTE: 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.

ESSENTIAL EXPERIENCE
• Recent* and significant** experience in the financial services industry*** performing the following:
o Quantitative assessment and reporting of financial system and risk management issues, and
o Communication of strategic advice to senior-level decision makers pertaining to financial sector risk issues

• Recent* and significant** experience in two or more of the following:
o Capital adequacy and capital management assessments.
o Macro stress testing and scenario analysis.
o Predictive risk analytics including AI/ML techniques.
o Liquidity adequacy and liquidity management assessments.

• Recent* experience in a challenge function role to risk management practices.

*Recent is defined as ANY relevant experience gained within approximately the last 3 years.
**Significant is defined as the depth and breadth of the experience normally associated with the performance of the duties for a period of 7 years.
*** 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, insurance companies and pension plans (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 and central banks that directly deal with the supervision and regulation of these institutions (e) Indigenous Institutions including: Band operations, trustees or administrators of pension plans, insurance institutions, lending institutions or other related areas providing financial services (f) other relevant areas, such as but not limited to, financial risk management, investment management, corporate treasury functions or commercial lending.

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

ASSET EDUCATION
• A relevant recognized graduate degree from a post-secondary institution

ASSET EXPERIENCE
• Recent* experience building or validating models that explore capital, liquidity, credit, and market risks for financial institutions.
• Experience** in one or more of these areas: asset liability management, strategic analysis, financial analysis, compliance, audit, credit risk, liquidity risk, and capital management.
• Experience** working with statistical software packages (e.g., SAS, R, Python), AI/ML, or software development.

*Recent is defined as relevant experience gained within approximately the last 3 years.
**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 will be applied / assessed at a later date (essential for the job)

ESSENTIAL KNOWLEDGE
• Knowledge of financial institutions' business activities, and performance indicators and techniques used in risk measurement and management.
• Knowledge of tools and processes used to conduct financial, economic or risk management analysis including new technologies, data science or other advanced quantitative techniques.

ESSENTIAL ABILITIES
• Ability to communicate effectively in writing.
• Ability to communicate effectively verbally.
• Ability to perform a variety of quantitative analysis techniques.

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

ASSET KNOWLEDGE
• Knowledge of the application of new technologies to finance and risk management.
• Knowledge of financial institution regulatory processes.
• Knowledge of supervisory stress test programs.
• Knowledge of tools and processes used to conduct financial and economic analysis including data science techniques.
• Knowledge of specialized languages frequently used in data science (e.g., R and Python) to conduct financial and or economic analysis.

ASSET COMPETENCIES
• Growth and Development

ORGANIZATIONAL NEEDS
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.

OPERATIONAL REQUIREMENTS
• Ability and willingness to work overtime when required.
• Ability and willingness to travel internationally when required.

Conditions of employment

Reliability Status security clearance

CONDITIONS OF EMPLOYMENT
• 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.
• Ability and willingness to travel within Canada 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.

- 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).

- 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).

- 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 the only method of communication with candidates for this selection process, please ensure it accepts messages from unknown users. Please ensure you check your spam folder for any communications from OSFI. You must 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: [e-mail]. 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.

We thank all those who apply. Only those selected for further consideration will be contacted.

[e-mail]

PLEASE DO NOT APPLY TO THIS EMAIL ADDRESS, USE THE APPLY ONLINE BUTTON.

IL FAUT FAIRE PARVENIR SA CANDIDATURE EN CLIQUANT SUR LE BOUTON POSTULER EN LIGNE ET NON PAS EN ENVOYANT UN COURRIEL À L’ADRESSE COURRIEL CI-DESSUS.