Compliance Officer

Financial Services Regulatory Authority (FSRA); Toronto; On-site; CAD 67,000 - 86,000; Full time

Job summary

FSRA is seeking a team member to manage consumer complaints within the Market Conduct group. You will intake inquiries from stakeholders, assess case severity, and prepare timely reports for escalation and resolution.

You will monitor industry conduct to identify potential unfair practices and provide technical guidance to institutions on FSRA’s compliance standards. The role includes contributing to policy and procedure development and supporting enforcement actions as needed.

Qualifications

• Proven knowledge and experience in a relevant regulated financial services sector.
• Knowledge of compliance standards for insurance or lending institution activities.
• Understanding of conduct analysis, risk-based theories and principles.
• Well versed in policy/legislation interpretation for Acts and regulation administered by FSRA.
• Knowledge of regulatory tools such as progressive discipline, remediation plans and warning letters.
• Strong knowledge and experience with various software applications.

Responsibilities

• Intake of consumer complaints and telephone or email inquiries from internal and external stakeholders, and responding to escalated inquiries.
• Managing a caseload of complaints and systemic issues that includes assessing the severity of each case, prioritizing as required, communicating with parties involved, and preparing accurate and timely case reports of inquiry/complaint follow-up and resolution, including the issuance of compliance letters as warranted.
• Monitoring regulated industry conduct to proactively identify potential negative or unfair business practices, and to highlight conduct issues that may contribute to systemic trends that impact consumer protection.
• Providing technical advice to financial institutions and intermediaries related to interpretation and application of FSRA’s compliance requirements and facilitating business practice solutions to resolve complaints.
• Providing input to market conduct procedures, processes and standards, and to new or proposed revisions to legislation and policies.
• Conducting research, fact-finding inquiries and analysis to prepare identified files for referral to FSRA’s Case Management Committee to elevate enforcement action, or to assist with examinations for specific compliance concerns.

Skills

Complaint intake

Caseload management

Regulatory knowledge

Analytical thinking

Communication skills

Policy interpretation

Tools

Software applications

Job description

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:

PURPOSE OF POSITION

As a member of the Market Conduct team, you will apply your knowledge and experience in one or more of the FSRA regulated sectors to manage a caseload that involves analyzing and addressing consumer complaints of misconduct or allegations of breaches involving business practices of financial service institutions and intermediaries (such as mortgage brokers/agents/administrators and insurance agents).

KEY RESPONSIBILITIES

• The primary responsibility of this role is the intake of consumer complaints and telephone or
• email inquiries from internal and external stakeholders, and responding to escalated
• inquiries.
• Managing a caseload of complaints and systemic issues that includes assessing the severity
• of each case, prioritizing as required, communicating with parties involved, and preparing
• accurate and timely case reports of inquiry/complaint follow-up and resolution, including the
• issuance of compliance letters as warranted.
• Monitoring regulated industry conduct and activities to proactively identify potential negative
• or unfair business practices, and to highlight conduct issues that may contribute to systemic
• trends that impact consumer protection and the financial services industry.
• Providing technical advice to financial institutions and intermediaries related to the
• interpretation and application of FSRA’s compliance requirements and facilitating business practice solutions to resolve complaints.
• Providing input to market conduct procedures, processes and standards, and to new or
• proposed revisions to legislation and policies.
• Conducting research, fact-finding inquiries and analysis to prepare identified files for referral
• to FSRA’s Case Management Committee to elevate enforcement action, or to assist with
• examinations for specific compliance concerns

QUALIFICATIONS

Education and Experience

• Proven knowledge and experience in a relevant regulated financial services sector
• Knowledge of compliance standards for insurance or lending institution activities
• Understanding of conduct analysis, risk-based theories and principles
• Well versed in policy/legislation interpretation for Acts and regulation administered by FSRA
• relevant to your sector of expertise, for example the Mortgage Brokerage, Lenders and
• Administrators Act
• Knowledge of regulatory tools such as progressive discipline, remediation plans and
• warning letters
• Proficient in mediation, persuasive, or conflict management techniques to facilitate the
• resolution of complaints
• Understanding of accounting and internal audit principles and practices including financial
• analysis for the review and assessment of financial and business records, statements and
• processes, is an asset
• Knowledge of research and analytical techniques and methods to gather information,
• conduct research; interpret data and prepare findings
• Strong knowledge and experience with various software applications

Knowledge and Skills

• Excellent oral and written communication skills to interact with consumers, prepare compliance letters and draft executive correspondence.
• Advanced analytical and problem solving skills to interpret findings, assess the nature and seriousness of identified issues, facilitate and mediate solutions.
• Ability to manage a caseload of varied complexity within stated timelines.
• Relationship management and interpersonal skills to promote resolution of complaints.
• Research, information gathering, and analytical skills using a broad range of sources.
• Excellent team membership skills to work cooperatively and collaboratively with colleagues.

Please note this is an existing position. The posting will close at 12AM on the expiry date

#LI-Onsite

Compensation Grade:

Grade 228-OPSEU ADM

Compensation Range:

$1,478.60

$1,892.29

Bargaining Unit:

OPSEU

Job Code:

Job Code: 20207

Employment Type:

Regular

Scheduled Weekly Hours:

36.25

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