Superintendent, Office of the Superintendent of Financial Institutions

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Portfolio:
Finance
Position title:
Superintendent
Type:
Full-time
Location:
Ottawa or Toronto, Ontario
Application Review Date:
February 15, 2021
Opportunity number:
J1220-0839

The Office of the Superintendent of Financial Institutions, is an independent federal government agency that regulates and supervises banks and all federally incorporated or registered trust and loan companies, insurance companies, federal credit unions, fraternal benefit societies and private pension plans. It assesses whether they are in sound financial condition and meeting their regulatory requirements, with the aim of protecting depositors, policyholders, financial institution creditors and pension plan members, while allowing financial institutions to compete and take reasonable risks, thereby contributing to public confidence in the Canadian financial system.

The Superintendent manages and leads the Office of the Superintendent of Financial Institutions as Deputy Head, providing strategic leadership and management direction for the organization. The Superintendent exercises his/her statutory powers over financial institutions and pension plans, overseeing their ongoing supervision, development and revision of guidelines, as well as rulings, precedents and interpretations of legislation. Externally, the Superintendent represents Canada’s regulatory and supervisory positions with a variety of domestic and international stakeholders within the financial services industry. The Superintendent chairs the Financial Institutions Supervision Committee and serves on the board of directors of the Canada Deposit Insurance Corporation as well as other inter-governmental committees. The Superintendent also oversees the constituent Office of the Chief Actuary, which provides actuarial services to the Government of Canada.

Official Languages and Diversity

The Government of Canada will consider bilingual proficiency and diversity in assessing applicants. You are therefore encouraged to include in your online profile your ability to speak and understand your second official language. Preference may be given to applicants who are members of one or more of the following groups: women, Indigenous peoples, persons with disabilities, and members of a visible minority group.

To be considered, please ensure that the information provided in your curriculum vitae and cover letter clearly demonstrate how you meet the following requirements:

Education and Experience


  • A university degree in a relevant discipline;

  • Recent and significant* experience in banking, risk management, finance or a regulatory function (*Recent and significant is defined as 10+ years of relevant banking and risk management experience);

  • Experience interfacing with executive committees, boards of directors, CEOs and/or senior government officials;

  • Experience in leading organizational change;

  • Experience leading a senior management team; and

  • Extensive experience in resolving complex risk management issues affecting multiple stakeholders.

If you move on to the next stage of the selection process, the following criteria will be assessed:

Knowledge, Skills and Abilities


  • Knowledge of the Canadian financial services sector;

  • Knowledge of prudential regulation;

  • Knowledge of current and emerging issues facing the global financial community, and how these issues could impact Canadian institutions;

  • Leadership: aligning and integrating the resources of the organization so that it effectively pursues organizational priorities, and being able to advance ideas an innovation internally, and impact and influence the organization’s interests and priorities externally;

  • Conceptual and innovative thinking: identifying and understanding the broader systemic and evolving risks within the financial services industry, ensuring responses contribute to the stability of the system;

  • Agility: working effectively within a variety of situations, and with various individuals or groups, adapting the approach as the requirements of the situation change; and

  • Collaboration: building and fostering external relationships and cultivating an open and highly collaborative culture within the organization.

Language Requirements

Proficiency in both official languages would be preferred.

If you move on to the next stage of the selection process, we will contact your references to confirm that you meet the above selection criteria and that you possess the following Personal Attributes:


  • Integrity: stepping up to the obligations of leadership with authenticity

  • Resilience: leading with confidence and stability during times of stress and uncertainty

  • Thought leader: Independent and innovative thinker

  • Strong communicator: Expert listener and public communicator

  • Sound judgement: making crucial decisions in the face of opposition and incomplete information

Eligibility Factors and Conditions of Employment


  • Appointees must comply with the Ethical and Political Activity Guidelines for Public Office Holders throughout their appointment as a term and condition of employment. The guidelines are available on the Governor in Council Appointments website under the Forms and reference material.

  • All appointees are subject to the Conflicts of Interest Act. Public office holders appointed on a full-time basis must also submit to the Office of the Conflict of Interest and Ethics within 60 days of appointment, a confidential report in which they disclose all of their assets, liabilities and outside activities. For more information, please visit the Office of the Conflict of Interest and Ethics Commissioner's website.

  • Appointees must uphold the highest standards of probity and are expected to demonstrate behaviours in the workplace that afford respect, equality and dignity, to everyone they interact with at work at all times. The Values and Ethics Code for the Public Sector outlines the values and expected behaviours for public servants, including valuing diversity and creating workplaces free from harassment and discrimination. Governor in Council appointees are expected to uphold and respect these values and principles in a positive and active manner.

  • If you are appointed to this position, you must comply with the Section 19 of  the Office of the Superintendent of Financial Institutions Act which prohibits the Superintendent from beneficially owning, directly or indirectly, any shares of any financial institutions, bank holding company, insurance holding company or of any other body corporate, however created, carrying on any business in Canada that is substantially similar to any business carried on by any financial institution (statutory).

  • If you are appointed to this position, you must comply with Section 7 of the Office of the Superintendent of Financial Institutions Act which provides that the Superintendent shall engage exclusively in the duties and functions of the Superintendent (statutory).

  • If you are appointed to this position, you must reside in or be willing to relocate to Toronto or Ottawa, or to a location within a reasonable commuting distance.

  • If you are appointed to this position, you must willing to travel across Canada and internationally.

A link to this notice will be placed in the Canada Gazette to assist the Governor in Council in identifying qualified candidates. It is not, however, intended to be the sole means of recruitment.

A list of qualified candidates may be established and may be used for similar opportunities.

How to Apply

Review of applications will begin on February 15, 2021. Candidates should apply online via the Governor in Council Appointments website. Candidates are strongly encouraged to submit their applications by this date. After this date, your application will be retained and may be considered up until an appointment to the position is made. Your cover letter should be addressed to the Deputy Director of Selection Processes, Senior Personnel Secretariat, Privy Council Office, and should be sent only through the online application.

Instructions on how to apply for an appointment opportunity can be found on the Governor in Council Appointments website.

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