Prudential Supervision Analyst
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. 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.
Requirements
- A degree in business, accounting, finance, computer or related field with associated work experience.
- Related work experience includes analytics, accounting, or the insurance industry.
- 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. For example, a related Diploma combined with a minimum of two years of related experience will be considered.
- A cover letter outlining how your experience relates to the qualifications listed above will help us to better understand your fit for this role.
Nice To Haves
- A designation in the following fields - accounting (CPA), insurance (CIP or FCIP);
- Experience in the insurance industry including property, casualty, and life insurance
- Advanced knowledge and skills in working with Microsoft Office products, including Excel.
Responsibilities
- Managing and conducting the regulatory and supervisory activities necessary to ensure the operational safety and soundness of Alberta Incorporated Insurance Companies, Alberta Incorporated Reciprocal Insurance Exchanges formed in or transferred to Alberta, Other Regulated Entities, and Licensed Special Brokers.
- Monitoring, analyzing, and providing recommendations on the capital management, investment, and other risk mitigation policies and procedures of insurance entities in relation to the nature, size, complexity, and risk profile of their operation.
- Reviewing documents to determine whether regulated entities are in compliance with legislation and regulations.
- Supporting research and development of a plan for the Superintendent of Insurance to act on in the event of insolvency.
- Preparing and reviewing quarterly reports on the financial results of provincial entities.
- Responsible for systems testing related to the development and maintenance of the Insurance Regulatory Information System to automate processes and increase efficiency.
Benefits
- Public Service Pension Plan (PSPP)
- Alberta Public Service Benefit Information
- Professional learning and development
- Positive workplace culture and work-life balance.
- Leadership and mentorship programs.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
