• Position: Senior Compliance Officer
  • Job/Opportunity Number: R000227
  • Unit/Department:
  • Organization: Financial Services Regulatory Authority of Ontario (FSRA)
  • Website: www.fsrao.ca
  • Location: Toronto
  • Term: Permanent and Temporary roles available
  • Posting Date:
    April 19, 2021
  • Deadline to Apply: April 21, 2021
  • Compensation: $1,436.53 - $1,844.50
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    The Financial Services Regulatory Authority of Ontario (FSRA) is a dynamic, innovative, independent and self-funded regulator of financial services and pensions. The organization promotes strong financial services and pension sectors while protecting the public interest. FSRA has responsibility for regulating property and casualty insurance (including auto insurance rates); life and health insurance; credit unions and caisses populaires; loan and trust companies; mortgage brokers; health service providers (related to auto insurance); and pension plans. We are building an agile, forward-thinking and collaborative culture, and FSRA is committed to encouraging innovation and competition, and promoting market integrity and stability. Joining FSRA is an exciting opportunity to help shape the regulator of the future.

    To learn about professional licensing and regulatory bodies and their consumer protection mandate, visit the Canadian Regulatory Guide.

    OVERVIEW OF ROLE

    As a member of the Market Conduct team, you will perform compliance examinations, field inspections, desk reviews and other supervisory activities of  Insurance companies and intermediaries regulated by FSRA.

    We currently have the following opportunities available:

    • 1 Permanent positions in Life & Health (Agents)
    • 4 Permanent positions in Life & Health (Companies)
    • 1 Temporary position in P&C (Auto)
    • 1 Temporary position in P&C (Health Service Providers)

    Please indicate your interest/preference in your application.

    KEY RESPONSIBILITIES
    • Leading and/or performing on-site, desk, thematic or supervisory reviews to assess regulated entities’ compliance programs, which may include corporate governance structures, policies and procedures, business and codes of conduct, compliance with FSRA legislation and regulations, and the viability of business operations and standards.
    • Monitoring and controlling the examination and project processes for project quality and progress, issues resolution and achievement of project deliverables.
    • Providing technical advice, information and guidance to financial institutions and intermediaries, and information to the public and to industry representatives regarding the interpretation and application of market conduct compliance legislation, regulations, policies and business standards.
    • Recommending actions to address non-compliance and/or ability to influence regulated entities for the implementation of best practices
    • Preparing identified files for referral to FSRA’s Case Management Committee for escalated enforcement action as required.
    • Providing input to procedures, processes and standards, supervisory plans including their development and to new or proposed revisions to legislation and policies.
    • Contributing to internal or external communications (e.g. reports to industry, consumer messages) relating to compliance, interpretation and application of regulatory requirements.
    • Responding to escalated phone inquiries and occasionally handling complaint files as assigned.
    QUALIFICATIONS

    Specialized Knowledge and Experience 

    • Demonstrated knowledge of, and expertise in examinations, reviews, analysis and assessment principles, practices and regulatory tools and techniques.
    • Knowledge of applicable laws and regulation is an asset
    • Compliance and internal audit work at insurance or lending organizations
    • Demonstrated knowledge of internal audit theory, risk-based regulatory practices, principles, standards and techniques, and industry audit standards and approaches
    • Expert financial analysis skills is an asset.
    • Knowledge of the financial services industry, business operations, risk management processes and internal controls framework as well as current developments in a regulated financial services sector
    • Knowledge of developments in national and international financial services regulatory standards.

    Skills

    • Ability to plan, lead and execute on projects/engagements with large corporate clients as well as intermediaries.
    • Ability to interpret and apply legislation in support of market conduct reviews, assessments and findings.
    • Demonstrated research, risk assessment, analytical, problem solving skills.
    • Proven superior written and verbal communication skills.
    • Demonstrated customer service, consultation and stakeholder relationship management skills.
    • Travel in Ontario may be required.

    FSRA is committed to ensuring equity in employment. Our goal is to create a diverse, inclusive workforce that reflects the communities we serve and to ensure our services and communications are accessible to all individuals. Accommodation is available under the Ontario Human Rights Code.

    NOTE: ONLY QUALIFIED CANDIDATES WILL BE CONSIDERED  

    **PLEASE MENTION THAT YOU FOUND THIS OPPORTUNITY ON REGULATORYJOBS.CA**