Senior Regulatory Analyst

fsra; Toronto; On-site; CAD 90,000 - 130,000; Full time

Benefits offered by this job

Employer-matched defined benefit plan

Comprehensive benefits package

Learning and development opportunities

Job summary

FSRA in Ontario is seeking a Regulatory Affairs professional to develop and administer FSRA's regulatory responsibilities under the Credit Unions and Caisses Populaires Act, Insurance Act, and related regulations. The role involves evaluating submissions, analyzing financial performance, and guiding regulatory actions for credit unions and insurers.

The position emphasizes policy interpretation, stakeholder engagement, and collaboration with IT to maintain regulatory databases and reporting.

Qualifications

• University degree preferably in finance, business, accounting or related discipline, or equivalent experience.
• Minimum of 5 years of experience in the financial service industry with emphasis on regulatory compliance, transactions, risk management and financial analysis.
• Professional designations (such as CFA and FRM) are an asset.
• Experience with data analysis and/or programming (e.g. Python) is considered an asset.

Responsibilities

• Conducts comprehensive evaluations of regulatory submissions, making final recommendations for approval or denial as appropriate.
• Performs comprehensive analysis of the financial performance and risk of credit unions or insurers, regulatory requests & reporting, compliance and business intelligence as required.
• Develops regulatory communications with respect to the interpretation of the Acts and regulations for institutions and other stakeholders.
• Leads and supports departmental and corporate activities and projects as they pertain to regulatory affairs, risk management, stakeholder relations and service quality.
• Reviews recommendations for administrative penalties, provides opinions and recommend approvals as appropriate.
• Reviews recommendations to implement regulatory actions, confirm compliance with Corporate Policy, and draft notice of intentions and / or orders as required.
• Responds to queries from credit unions, insurers and other stakeholders on matters regarding prudential solvency regulation.
• Develops and documents procedures for regulatory approval process and reporting of regulatory activity to management.
• Collaborates with Information Systems staff to design, implement and maintain a comprehensive regulatory database.
• Develops and maintains guidance and support tools for credit unions and insurers for variations, exemptions and other regulatory approvals.
• Supports the development and delivery of presentations and webinars on regulatory topics of value to credit unions, insurers and other stakeholders.
• Assist with the development and maintenance of FSRA's tools, guidelines, handbooks, reports and other materials.
• Provides technical and analytical support on various ongoing and special projects

Skills

Regulatory policy expertise

Regulatory compliance

Stakeholder relationship management

Analytical thinking

Strong written and oral communication

Education

University degree in finance, business, accounting or related discipline

Tools

Python

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

Accountable for the development and administration of FSRA's regulatory responsibilities in compliance with the Credit Unions and Caisses Populaires Act, the Insurance Act, their Regulations, and organizational policies.

KEY RESPONSIBILITIES

• Conducts comprehensive evaluations of regulatory submissions, making final recommendations for approval or denial as appropriate
• Performs comprehensive analysis of the financial performance of the financial performance and risk identification of credit unions or insurers, regulatory requests & reporting, compliance and business intelligence as required.
• Develops regulatory communications with respect to the interpretation of the Acts and regulations for institutions and other stakeholders
• Leads and supports departmental and corporate activities and projects as they pertain to regulatory affairs, risk management, stakeholder relations and service quality
• Reviews recommendations for administrative penalties, provides opinions and recommend approvals as appropriate
• Reviews recommendations to implement regulatory actions, confirm compliance with Corporate Policy, and draft notice of intentions and / or orders as required
• Responds to queries from credit unions, insurers and other stakeholders on matters regarding prudential solvency regulation. Provides support to internal staff on the compliance of credit unions and insurers with the Acts, Regulations and FSRA Rules.
• Develops and documents procedures for regulatory approval process and reporting of regulatory activity to management.
• Collaborates with Information Systems staff to design, implement and maintain a comprehensive regulatory database to house such items as regulatory queries, regulatory activity reporting, interpretations, clarifications, positions, institutional knowledge of regulation, standard terms and conditions of approvals etc.
• Develops and maintains guidance and support tools for credit unions and insurers for variations, exemptions and other regulatory approvals. Promotes credit union and insurers adoption and compliance with sound business practices, FSRA rules, the Acts and regulations, as required.
• Supports the development and delivery of presentations and webinars on regulatory topics of value to credit unions, insurers and other stakeholders. Assist with the delivery of webinars on other topics as required.
• Assist with the development and maintenance of FSRA's tools, guidelines, handbooks, reports and other materials
• Provides technical and analytical support on various ongoing and special projects

QUALIFICATIONS

Education and Experience

University degree preferably in finance, business, accounting or related discipline, or equivalent experience

Minimum of 5 years of experience in the financial service industry (banks, credit unions, insurance companies) with emphasis on experience in regulatory compliance, transactions, risk management and financial analysis.

Professional designations (such as CFA and FRM) are an asset.

Experience with data analysis and/or programming (e.g. Python) is considered an asset.

Knowledge and Skills

• Policy & Regulatory expertise with In-depth knowledge of FSRA Rules, Credit Unions and Caisses Populaires Act and Regulations, and Insurance Act and Regulations.
• Ability to interpret legislation and regulations and comprehend complex concepts and risk issues
• Strong relationship management skills with the ability to build relationships with both internal and external stakeholders and influence/ persuade stakeholders, often acting as a first point of contact for complex issues and situations
• Oral and written communication skills to develop regulatory communications, draft briefing notes, develop and deliver presentations and create guidance and support tools.
• Analytical problem-solving skills, with sound judgment and conceptual thinking to evaluate the impact of proposed regulations
• Ability to identify regulation non-compliance and utilize judgement to recommend appropriate penalties

* Please note that this position will cl