Technical Lead

Financial Services Regulatory Authority (FSRA)•Toronto, ON

5d•CA$92,976 - CA$135,136•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! Job Description: Fixed Term Full-Time 18-month contract available Purpose of Position Accountable for the provision of technical expertise in the interpretation and application of regulatory requirements for licensed intermediaries and entities under FSRA’s jurisdictions, leading complaints and risk assessment activities and for recommending strategies and approaches to dealing with complex compliance issues in Market Conduct.

Requirements

University degree in business, economics, law, accounting or another relevant field.
Minimum 5 years of experience in or knowledge of one of more of the regulated or related sectors (e.g., life insurance, P&C insurance, health services provider, mortgage brokerage and administration, loan and trust, pension and credit union)
Expertise in the interpretation and application of regulations in a FSRA’s regulated or related financial sector.
Advanced knowledge of the financial services industry and current developments in at least one of the regulated financial services sectors as well as developments in national and international financial services regulatory standards.
Demonstrated case management skills, and experience with risk-based regulatory principles, standards and techniques.
Demonstrated leadership and project management skills to provide technical advice and guidance to address complex compliance issues.
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 Legal & 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.
Demonstrated knowledge of the business models and operations and compliance matters of one of the FSRA’s Regulated or related Sectors.

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).
Provides expertise and mentoring to the team regarding the management, negotiation and resolution of significant, complex and/or sensitive compliance or regulatory issues including complaints and market conduct desk reviews.
Conducts the secondary review of complaint files and findings prepared by Compliance Officers to ensure identified high-priority compliance issues are the most critical, follow regulatory requirements and to ensure consistency in the interpretation and application of regulations prior to final approval by the Senior Manager.
Manage a small caseload of complex complaint files and leads the resolution of contentious compliance matters, as assigned on a case-by-case basis and monitors high-risk files.
Conducts ongoing holistic reviews of complaint files and findings to assess how they are applied in various scenarios and to ensure consistency in the interpretation of legislation across the department, prepares related industry publication and recommends regulatory amendments or guidance as appropriate.
Works with the Head and Senior Manager in the implementation of the Department’s strategic plan including assisting in operationalizing new programs and objectives and any changes to regulatory requirements and guidelines.
Acts as a key liaison on complex situations with the industry to provide technical expertise, advice and recommendations related to the development, implementation and evaluation of regulatory requirements.
Mentors and supports staff to identify, prepare and present cases to an internal vetting committee for escalation of compliance matters to Legal and Enforcement.
Leads the briefing with executives or the government on sensitive or contentious compliance matters.
Leads projects/teams for the development, implementation and evaluation of procedures or programs to monitor regulatory compliance of the relevant Regulated Sector.
Provides reporting and trend analysis to the relevant sector manager(s), to support corporate reporting and to inform supervision and policy making.
Supports management in industry engagement on regulatory or compliance matters and FSRA’s sector supervisory plan.