Senior Specialist, ORSA (Own Risk and Solvency Assessment)

Job Requisition ID: 10815  

Position Status: Permanent Full Time 

Position Type: Hybrid 

 Office Location: Ottawa (ON); Calgary (AB); Halifax (NS); Montreal (QC); Toronto (ON); Vancouver (BC)

Travel Requirement: Travel not required 

Language Designation: English Essential 

Language Skill Levels (Read/Write/Speak): ZZZ 

Security Requirement: Secret 

Salary: Our salaries generally range from $ 99646.37 to $ 124557.97 and are based on qualifications and experience. 

About CMHC

The work you do and the work we do together matters. We come to work every day with a common purpose: to contribute to a well-functioning housing system.

At CMHC, we hold ourselves accountable for our results and support our colleagues in their achievements. We thrive on collaboration, connecting across CMHC and involving the right people to get our work done. We have flexibility, in how, when, and where we work, within the boundaries of the business needs and the nature of your role. Our leadership style is guided by trust, where our leaders favour an adaptive approach based on the needs of their teams.

Join us and be part of a team that's committed to making a real difference and be part of something meaningful.

What’s in it for you

We’ve got the purpose, the people and the perks you need for a fulfilling career. Here’s the comprehensive and generous benefits you get when you’re a permanent employee:

• Annual paid vacation.
• Annual individual performance incentive.
• Defined benefit pension plan.
• Comprehensive group insurance plan to support your well-being from day one.
• Support towards your personal and professional growth with training, mentorship and more. 
• An inclusive workplace culture and environment.

About the role
Join the Deputy Chief Risk Officer team in the role of Senior Specialist, ORSA (Own Risk and Solvency Assessment). In this role, you will lead a variety of assignments to support own risk and solvency assessment (ORSA) process. You will monitor risk limits (including but not limited to insurance, credit, market and liquidity risk etc.), prepare risk insights (e.g. reports on stress testing and ORSA results) and author management material (i.e. memos, decks, documentation) to management, senior executive committees and to the Board. Additionally, you will develop capabilities to oversee risks including working with stakeholders to implement the methodology, metrics, and program standards for the assigned portfolio to ensure compliance and effective monitoring and timely reporting.

 
What you’ll do:

• Lead own risk and solvency assessment process; design, develop and produce management risk reports and memos for various working groups and committees. Prepare risk reports and analysis in response to ad-hoc requests.
• Monitor the financial market and economic environment and assess the impacts on capital requirement.          
• Independently administers and evaluates models, model assumptions, and key metrics used for the measurement of risk for adherence to all policies and procedures applicable to the transaction based on established processes, documents and reports results of evaluations on an individual and summary basis.                                                                               
• Develop and maintain in-depth knowledge of business and related risk management requirements, industry standards and legislative/ regulatory directives and guidance.
• Work independently and regularly handle highly complex situations. Broader work or accountabilities may be assigned as needed.
• Identify emerging issues and trends to inform decision-making.                                                                 

 
What you should have:

• A minimum of 5 years of relevant experience at a bank, insurance company, asset manager or other types of financial institution.                                                        
• A postgraduate degree or higher in a quantitative discipline such as finance, actuarial sciences, economics, statistics or an equivalent combination of education and experience.
• Demonstrated experience with capital adequacy assessment (ORSA / ICAAP) and/or stress testing.
• In-depth knowledge and understanding of risk management practices.                                                   
• In-depth knowledge of regulatory requirements and financial concepts.                                                 
• Strong verbal and written communication skills. 
• Strong collaboration and team skills 
• Strong analytical and problem-solving skills. 
• Strong ability to develop and drive data driven decision making.

 
It would be great if you also had:

• A professional designation (Actuarial, Chartered Financial Analyst, Chartered Professional Accountant, Professional Risk Manager, Financial Risk Manager).
• Programming skills in R Python, PySparks, and DataBricks.   
• Knowledge and experience in PowerBI.                                                            

Posting closing date:  Note, the competition will remain active until filled.

Our commitment to diversity, equity, and inclusion 

We’re committed to employment equity and encourage women, Indigenous Peoples, persons with disabilities, veterans and persons of all races, ethnicities, religions, abilities, sexual orientations, and gender identities and expressions to apply. We also welcome applications from non-Canadians who are eligible to work in Canada.

CMHC is an inclusive workplace where diversity of thought – and of people – are recognized, valued, and considered essential to achieving our mission.

Learn more about our commitment to diversity and inclusion 

What happens after you apply 

We know that applying for a new job can be both exciting and daunting, and we appreciate your effort. Learn more about our hiring process.  If you are selected for an interview or testing, please advise us if you require an accommodation.

If you applied before and you were not successful don’t worry – we're always posting new positions, so don’t hesitate to give it another shot. We’re excited to see what you bring to the table this time around!