Restricted Insurance Agency Licensing Analyst (Contract)

Insurance Council of BC; Vancouver; Hybrid; CAD 74,000 - 82,000; Full time

Benefits offered by this job

Hybrid work environment

Health and dental plan

Professional development

Equitable employment opportunities

Job summary

The Insurance Council of British Columbia is seeking a regulatory licensing professional for a 24-month contract to analyze RIA licence applications and amendments, ensuring adherence to Council Rules and policies. You will prepare decisions, communicate requirements, and support regulatory initiatives with strong analytical skills.

Ideal candidates bring 3+ years in regulatory or financial services, a business administration background, and proficiency in MS Word/Excel.

Qualifications

• Minimum 3 years' experience in regulatory or financial services, preferably in regulatory licensing and approvals.
• Post-secondary degree in a related field such as business administration, or equivalent experience.
• Insurance or financial services education and /or experience is preferred.
• Computer skills, with proficiency in word processing and spreadsheets.
• Experience in client service and conflict resolution.
• Principles and practices of risk control models, analytical methods and compliance measure to assess eligibility for licences and to develop recommendations.
• Excellent organizational skills and attention to detail.
• A public service orientation.
• Ability to work independently as well as part of a team.
• Excellent time management skills and ability to meet deadlines.
• Ability to organize large volumes of work and deal with several concurrent tasks.
• Analytical and problem-solving skills to review and analyze licensing applications and develop relevant recommendations.
• Proven judgement and analytical skills to assess compliance/non-compliance with legislation in the review of licence applications.
• Interpersonal and collaboration skills to work in a team environment.
• Ability to manage work to meet deadlines and manage multiple competing priorities effectively.

Responsibilities

• Conduct reviews and analysis of RIA licence applications and licensing transactions, including new applications, licence cancellations, legal name and trade name changes, amalgamations, acquisitions, and other licensing matters, in accordance with governing legislation, Council Rules, policies, and departmental procedures.
• Approve RIA licence applications and licensing changes that meet established requirements. Refer applications that do not meet requirements, or that raise suitability, compliance, or other regulatory concerns, to the Manager, Restricted Insurance Agency Licensing with recommendations for consideration.
• Review and process amendments to RIA licences, including changes to classes of insurance, business activities, designated representatives, ownership and control, business names, business locations, and other licensing information, in accordance with applicable legislative, regulatory, and procedural requirements.
• Prepare and issue correspondence regarding outstanding requirements, licensing decisions, and licensing matters, and provide clarification of licensing requirements to applicants and licensees.
• Conduct research and analysis of issues identified during the application, licensing, and amendment processes, and support the preparation of reports for the Licensing Committee on policy, compliance, risk management, and other regulatory matters.
• Participate in the review, development, and enhancement of RIA licensing procedures, business processes, systems, policies, and applicable legislation.
• Respond to written and verbal inquiries regarding RIA licensing requirements, processes, and regulatory obligations.
• Document all relevant telephone calls, emails, correspondence, and meetings in the licensing management system in accordance with recordkeeping requirements.
• Provide guidance, support, and education to applicants, licensees, designated representatives, and other stakeholders regarding governing legislation, Council Rules, policies, and licensing requirements.
• Maintain current knowledge of legislation, Council Rules, policies, procedures, and developments affecting the RIA licensing framework.
• Liaise with regulatory bodies, government agencies, and other external organizations regarding applicants, licensees, and regulatory matters, as required.
• Monitor and report on individual key performance indicators (KPIs) related to the timeliness, quality, accuracy, and service standards of RIA licensing activities.
• Where required, support the review and approval of individual licence applications, reapplications, reinstatements, cancellations, and licence amendments in accordance with legislation, policies, regulatory frameworks, and departmental procedures.
• Contribute to projects, initiatives, consultations, and continuous improvement activities that support the effective administration of the RIA licensing framework.
• Perform other duties as assigned by the Manager, Restricted Insurance Agency Licensing.

Skills

Regulatory licensing

Analytical skills

Communication

Time management

Teamwork

Problem solving

Education

Business administration degree

Insurance/financial services experience

Tools

Microsoft Word

Microsoft Excel

Job description

About the Insurance Council

The Insurance Council of British Columbia is the regulatory organization that licenses and regulates the activities of over 50,000 life and general insurance agents, general insurance salespersons, insurance adjusters, and restricted insurance agents in British Columbia.

Why Work for the Insurance Council?

Work with a great team of people in a rewarding career that makes a difference. We are in a downtown location with plenty of amenities nearby. The Insurance Council has a friendly and collaborative environment with a team who is committed to protecting the public.

• We offer a comprehensive health and dental plan
• Work-life balance
• Hybrid work environment (work from office/residence in BC)
• Professional development
• Equitable employment opportunities

The Opportunity

This is a 24-month contract role.

Duties and Responsibilities

• Conduct reviews and analysis of RIA licence applications and licensing transactions, including new applications, licence cancellations, legal name and trade name changes, amalgamations, acquisitions, and other licensing matters, in accordance with governing legislation, Council Rules, policies, and departmental procedures.
• Approve RIA licence applications and licensing changes that meet established requirements. Refer applications that do not meet requirements, or that raise suitability, compliance, or other regulatory concerns, to the Manager, Restricted Insurance Agency Licensing with recommendations for consideration.
• Review and process amendments to RIA licences, including changes to classes of insurance, business activities, designated representatives, ownership and control, business names, business locations, and other licensing information, in accordance with applicable legislative, regulatory, and procedural requirements.
• Prepare and issue correspondence regarding outstanding requirements, licensing decisions, and licensing matters, and provide clarification of licensing requirements to applicants and licensees.
• Conduct research and analysis of issues identified during the application, licensing, and amendment processes, and support the preparation of reports for the Licensing Committee on policy, compliance, risk management, and other regulatory matters.
• Participate in the review, development, and enhancement of RIA licensing procedures, business processes, systems, policies, and applicable legislation.
• Respond to written and verbal inquiries regarding RIA licensing requirements, processes, and regulatory obligations.
• Document all relevant telephone calls, emails, correspondence, and meetings in the licensing management system in accordance with recordkeeping requirements.
• Provide guidance, support, and education to applicants, licensees, designated representatives, and other stakeholders regarding governing legislation, Council Rules, policies, and licensing requirements.
• Maintain current knowledge of legislation, Council Rules, policies, procedures, and developments affecting the RIA licensing framework.
• Liaise with regulatory bodies, government agencies, and other external organizations regarding applicants, licensees, and regulatory matters, as required.
• Monitor and report on individual key performance indicators (KPIs) related to the timeliness, quality, accuracy, and service standards of RIA licensing activities.
• Where required, support the review and approval of individual licence applications, reapplications, reinstatements, cancellations, and licence amendments in accordance with legislation, policies, regulatory frameworks, and departmental procedures.
• Contribute to projects, initiatives, consultations, and continuous improvement activities that support the effective administration of the RIA licensing framework.
• Perform other duties as assigned by the Manager, Restricted Insurance Agency Licensing.

Qualifications and Experience

• Minimum 3 years' experience in regulatory or financial services, preferably in regulatory licensing and approvals.
• Post-secondary degree in a related field such as business administration, or equivalent experience.
• Insurance or financial services education and /or experience is preferred.
• Computer skills, with proficiency in word processing and spreadsheets.
• Experience in client service and conflict resolution.
• Principles and practices of risk control models, analytical methods and compliance measure to assess eligibility for licences and to develop recommendations.
• Excellent organizational skills and attention to detail.
• A public service orientation.
• Ability to work independently as well as part of a team.
• Excellent time management skills and ability to meet deadlines.
• Ability to organize large volumes of work and deal with several concurrent tasks.
• Analytical and problem-solving skills to review and analyze licensing applications and develop relevant recommendations.
• Proven judgement and analytical skills to assess compliance/non-compliance with legislation in the review of licence applications.
• Interpersonal and collaboration skills to work in a team environment.
• Ability to manage work to meet deadlines and manage multiple competing priorities effectively.

Hiring Range: $74,195 - $81,500 per annum.
Placement within this range will be determined according to the candidate's relevant experience, qualifications, and demonstrated competencies.