Senior Specialist (RE-07)
Office of the Superintendent of Financial Institutions
$125,000 - $160,000
This position is located in Toronto. As a result of the global pandemic, OSFI employees are currently working from home. Should the current telework environment no longer apply, the successful candidate will be required to report to and work onsite from the Toronto office.
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 organisation. 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. Working at OSFI offers the following:
Mandate: the work you do at OSFI matters. Your efforts contribute to the safety and soundness of the Canadian Financial Sector. A strong financial sector promotes competition, and benefits all Canadians.
Learning & Development: our organisation understands that ongoing learning and development is critical and necessary, and must evolve with developments in the Financial Sector. Learning and Development is a 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. Where available, we offer opportunities for flexible working arrangements.
Benefits: 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.
What you will be doing:
OSFI’s Model Risk Division (MRD) is seeking a highly motivated individual to join their team in the role of Senior Specialist in the Toronto office. The Model Risk Division is responsible for assessing the methodology, governance and oversight of models used by Federally Regulated Financial Institutions (“FRFI”). These include regulatory capital models, and those used for other enterprise functions or activities. The team also leads OSFI’s initiatives on supervision of AI/ML and the incumbent would be leading this area of work. Responsibilities include keeping abreast of developments in the advanced analytics space in particular as they relate to FRFIs and regulation. Additionally, contributing to the development of guidance for Artificial Intelligence and Machine Learning use at FRFIs as well as contributing to the development of supervisory tools and framework that OSFI will use to provide oversight of the use of these techniques at FRFIs. Furthermore, the individual would be liaising with Supervision teams as well as providing advice on risk measurement, risk analytics, and modelling practice issues to internal and external stakeholders.