Manager, Prudential Supervision
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. 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. Operating under the authority of the Alberta Superintendent of Insurance, the Prudential Supervision section of the Insurance Regulation and Market Conduct Branch (Financial Sector Regulation and Policy) regulates and supervises provincially incorporated insurance companies, captive insurance companies, reciprocal insurance exchanges, exempt entities, and Special Brokers ensuring regulated entities remain financially sound and Alberta policyholders are protected.
Requirements
- A university degree in a related discipline such as actuarial science, commerce, finance, business administration, or law together with four years of related experience interpreting and applying insurance legislation and analyzing financial and contractual documents to assess the financial condition of regulated entities.
- Management and team-leadership experience, combined with an insurance background, is required.
Nice To Haves
- A professional qualification in insurance, actuarial science, or accounting such as ACIA or FCIA (Canadian Institute of Actuaries), FCIP, CIP, FRM, or CPA;
- Direct people-leadership and performance-management experience;
- Knowledge of the Insurance Act, the Captive Insurance Companies Act, and related regulations, as well as the applicable supervisory framework;
- Experience in prudential or solvency supervision, including captive insurance;
- Experience reviewing and challenging financial, actuarial, governance, and risk assessments.
Responsibilities
- Leading, supervising, and developing team members (Analyst, Senior Analyst, and Advisor), setting clear expectations, allocating work based on risk and capability, and coaching staff through feedback and learning plans.
- Directing risk-based prudential supervision and the annual supervisory plan, and providing second-level review, challenge, and approval of financial, actuarial, governance, and risk assessments completed by staff.
- Ensuring consistent application of the Insurance Act, the Captive Insurance Companies Act, and related regulations, and overseeing reviews of statutory filings, financial returns, and capital reporting.
- Overseeing the prudential review of insurer and captive licensing applications, renewals, incorporations, continuances, amalgamations, portfolio transfers, and other structural changes.
- Providing managerial oversight of recurring statutory programs including the annual cost-recovery process, unlicensed insurance reporting, and special broker returns and approving assessments, penalties, and refunds within delegated authority.
- Preparing and validating briefings, background, and recommendations for the Director, senior leadership, and the Superintendent of Insurance, and representing Alberta on cross-jurisdictional working groups and committees.
Benefits
- Public Service Pension Plan (PSPP)
- Management Employees Pension Plan (MEPP)
- Alberta Public Service Benefit Information
- Professional learning and development
- Leadership and mentorship programs
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What This Job Offers
Job Type
Full-time
Career Level
Manager
