Technical Lead, Regulatory Compliance, Market Conduct

Financial Services Regulatory Authority (FSRA)•Toronto, ON

2d•Onsite

About The Position

At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we’re passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry. Our team combines industry expertise with commitment to public service. We attract individuals who are interested in meaningful work and who measure success through outcomes, not inputs. At FSRA, we invest in the personal and professional growth of our team. We offer a competitive compensation package that includes an employer-matched defined benefit pension plan, and a comprehensive and competitive benefits plan. We prioritize learning and development, wellbeing, diversity, equity, inclusion and belonging, and community giving. Join FSRA and help us shape the future of regulation for generations to come! This is a 12 months fixed term contract position.

Requirements

University degree in law, accounting, finance, commerce, business administration, public policy or a comparable field.
Minimum 5 years of industry experience in one or more of the regulated sectors (e.g., life insurance, P&C insurance, health service provider, mortgage brokerage and administration, loan and trust (co-operatives and credit unions) with expertise in regulatory compliance and enforcement.
Proven experience in the interpretation and application of regulatory requirements of one of FSRA’s regulated sectors.
Demonstrated audit or compliance skills, and experience with risk-based auditing methodology.
Demonstrated leadership and project management skills to provide technical advice and guidance to address compliance cases.
Proven analytical, problem-solving and negotiation skills to provide senior advisory and support negotiation on complex compliance or regulatory issues.
Proven verbal and presentation skills to provide information and advisory services to Market Conduct management and staff, other FSRA divisions (including Policy and Enforcement) and external stakeholders and conduct staff training programs.
Proven written communication skills to prepare technical reports, external correspondence, project plans/reports and policy recommendations.

Responsibilities

Provides technical expertise in regulatory compliance requirements regarding the conduct of assigned regulated sectors (e.g., life insurance, P&C insurance, health services provider, mortgage brokerage and administration, loan and trust, pension, and credit union).
Actions compliance outcomes relating to AIR filing non-compliance, findings related to AFS reviews, E&O non-compliance and various statutory violations relating to regulated sectors.
Conducts ongoing holistic reviews of compliance issues related to filing requirements to assess how they are applied in various scenarios and to ensure consistency in application of the legislation.
Prepares statistics for industry publication and recommends regulatory amendments or guidance as appropriate.
Provides technical expertise and recommendations to the Senior Manager, Director, or Head on proposed regulatory action and issues related to repeat non-compliance.
Mentors and supports staff to identify, prepare and present cases to an internal vetting committee for escalation of compliance matters to Legal and Enforcement.
Participates in projects for the development and review of program and operational policies, procedures, processes and quality standards for the review, analysis and assessment of cases.
Participates on FSRA and regulatory committees and projects teams related to regulatory action, issues and trends.
Supports FSRA stakeholder consultations and outreach initiatives and presentations on regulatory policies and processes.
Provides reporting and trend analyses to the relevant sector manager(s), to support corporate reporting and to inform supervision and policy making.
Provides program/service expertise and advice to FSRA management and staff in response to operational or program issues impacting the achievement of department or sub-function directions; providing evidence-based recommendations for problem resolution and improvement to methods to deliver programs or services.
Works with colleagues in Market Conduct and Legal and Enforcement on strategies and processes that lead to regulatory or disciplinary outcomes and with Policy to provide evidence for input to policy and legislative changes.