Compliance Analyst

Government of Alberta•Edmonton, AB

33d•CA$66,884 - CA$87,736•Onsite

About The Position

The Alberta Public Service works to build a stronger province for current and future generations. We make a difference in the lives of Albertans through rewarding and diverse career opportunities. The Ministry of Treasury Board and Finance (TBF) is responsible for budget planning, financial management and economic analysis, and the administration of tax and revenue programs. In addition, TBF undertakes policy and regulatory oversight of Alberta’s financial securities, insurance and pension sectors. Committed to responsible fiscal management, TBF supports government’s fiscal planning by coordinating the budget, quarterly and overall Treasury Board processes, and by working closely with ministries to efficiently and effectively deliver programs and services. The Alberta Superintendent of Insurance is responsible for all insurance sector regulatory compliance activities performed by the offices of Financial Sector Regulation and Policy, a division of Alberta Treasury Board and Finance. These activities include receiving, reviewing and approving required filings, performing examinations of institutions, regulatory oversight of insurers operating in Alberta, prudential supervision of provincially incorporated insurance companies, interpreting legislation, and making recommendations to the President of Treasury Board and Minister of Finance with respect to insurance sector policy. Operating under the authority of the Alberta Superintendent of Insurance, the Insurance Regulation and Market Conduct Branch have the mandate to regulate insurance companies, reciprocal insurance exchanges, exempt entities and special brokers.

Requirements

University graduation in business or a related field; no experience required or equivalent as described below.
Directly related education or experience may be considered on the basis of 1 year of education for 1 year of experience, or 1 year of experience for 1 year of education.
The position requires a two-year diploma in business or a related field, combined with related work experience. Related work experience includes insurance regulation, compliance, financial services, or the insurance industry.

Nice To Haves

Knowledge of, and experience in, the insurance industry including property and casualty and/or life insurance or experience with an insurance regulator.
A professional insurance designation such as Chartered Insurance Professional (CIP), Canadian Risk Management (CRM), or Chartered Life Underwriter (CLU), or other related insurance education.
Working knowledge of the Care First automobile insurance framework and associated consumer processes, and familiarity with Alberta standard automobile policy forms and related insurance products.
Understanding of privacy legislation (ATIA, PIPA, PIPEDA, HIA).
Knowledge of insurance regulatory frameworks and compliance processes.

Responsibilities

Providing accurate, timely, and consistent regulatory guidance to consumers, insurers, intermediaries, and government stakeholders including support on inquiries related to the Care First automobile insurance model and interpreting and communicating requirements under the Insurance Act and related policies.
Assessing inquiries to determine the appropriate response, escalation, or referral, and documenting interactions and decisions in accordance with established procedures.
Administering regulatory processes and applications, including Medical Assessor requests, Certified Examiner (CE) appointments, appeal panel and umpire selections, and wording submissions.
Maintaining accurate and up-to-date regulatory records, databases, and public registry information, and generating and validating operational and compliance reports.
Reviewing and analyzing potential compliance issues and market conduct concerns and assessing risks related to insurer conduct and consumer treatment, including within evolving frameworks such as Care First.
Assisting Compliance Officers with examinations and investigations; collecting, validating, and analyzing data; and preparing summaries and reports outlining findings and recommendations.
Contributing to policy development, legislative or regulatory changes, and consumer-facing guidance and communication materials, and supporting responses to Action Requests and Ministerial correspondence.
Supporting the integrity of regulatory systems and data including testing system functionality and business rules (e.g., IRIS) and providing financial administration, coordination, and backup support across IRMC and other FSRP branches as required.