Compliance Officer

Government of Alberta•Edmonton, AB

1d•CA$76,613 - CA$100,492•Onsite

About The Position

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. 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. The Insurance Regulation and Market Conduct Branch have the mandate to regulate insurance companies, reciprocal insurance exchanges, exempt entities and special brokers. This role is for an insurance or regulatory professional looking for a challenging role where they can make a real difference for Alberta’s insurance consumers. The role involves conducting investigations, interpreting legislation, and working with a wide range of stakeholders in a busy, fast-paced environment.

Requirements

A university degree, or a two-year diploma in business or a related field, combined with related work experience.
Related work experience includes insurance regulation, compliance, investigations, financial services, or the insurance industry.
1 year of education for 1 year of experience; or 1 year of experience for 1 year of education.

Nice To Haves

Experience conducting investigations or regulatory examinations.
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), Fellow Chartered Insurance Professional (FCIP), Canadian Risk Management (CRM), Chartered Life Underwriter (CLU), or Fellow, Life Management Institute (FLMI); a CPA designation; or a law degree.
Working knowledge of the Care First automobile insurance framework and associated consumer processes, and familiarity with the 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

Serving as a key point of contact for consumers and stakeholders — responding to inquiries and complaints about insurance rules, policies, rights, and the complaints process, and helping users navigate the Care First automobile insurance model.
Providing regulatory advice and decision support to management, and preparing clear reports, briefings, and correspondence for senior leaders and elected officials.
Supporting the development of bulletins and industry guidance and responding to requests for insurance information and basic data analysis.
Conducting regulatory oversight, examinations, and compliance monitoring — reviewing insurer practices and records (remotely and, in rare circumstances, on-site) to identify compliance concerns, communicating findings, and recommending corrective or enforcement actions.
Monitoring trends and identifying emerging risks in the insurance market.
Administering regulatory processes, including Medical Assessor and Certified Examiner (CE) appointments, dispute resolution and umpire appointments, and the review of insurance forms, contracts, and endorsements.
Conducting fair, thorough investigations of alleged breaches of insurance legislation — triaging complaints, assessing jurisdiction and scope, gathering and analyzing information, documenting findings, and presenting enforcement recommendations.
Partnering with internal teams, other regulators (AIRB, AIC), and government departments, and maintaining accurate records of regulatory activities and outcomes.