PURPOSE OF POSITION
Accountable for managing a portfolio of provincially regulated financial institutions (credit unions, insurance companies), performing risk and risk management controls assessments, identifying issues and weaknesses, and taking action through remediation, regulatory intervention, and implementing contingency, recovery and resolution plans in support of overall Relationship and Risk Management Department’s accountabilities and strategies.
- As the Relationship Manager for an assigned and diverse portfolio of provincially regulated credit unions and insurance companies, ensures the consistent messaging of FSRA’s regulatory requirements, risk management expectations and the remediation of regulatory and risk management issues.
- Leads or assists in identifying significant activities of regulated FIs, assessing inherent risks associated with those activities, assessing risk management control functions, assessing liquidity and capital adequacy, and resiliency.
- Identifies system-wide issues that may impact regulated institutions and makes recommendations to management to mitigate these risks. Develops and maintains relationships with Boards and senior management of assigned institutions and meets with them regularly to ensure proactive identification of risks and issues (e.g. strategy, profitability, viability, liquidity, funding, capital adequacy, financial and non-financial risks, corporate governance) and updates institutions’ risk profiles.
- Leads the risk management intervention and remediation of regulatory and risk management issues, including the placement of FIs in appropriate Depositor Protection Programs, when required.
- Conducts market intelligence gathering and analysis of business and financial practices, and operations of regulated institutions to identify risks and non-compliance with the FSRA legislation, regulations, rules and guidance.
- Works with the Examination Team to inform the examination scope of higher risk areas or practices identified through ongoing monitoring (pre-exam).
- Works with institutions to develop and enforce corrective action plans resulting from examination findings (post-exam).
- Assists the Senior Manager and Head in developing and applying the Risk Based Supervisory Framework and supports the development of modern practices (e.g., internal policies, processes, and tools) that enable FSRA to prudentially supervise provincially regulated institutions.
- As a member of the Credit Union and Prudential team, collectively with other team members, makes decisions regarding supervisory planning, assessments and intervention of regulated institutions.
- Provides subject matter expertise (e.g. risk analysis, risk management, corporate governance, lending, treasury, IT) and advice to senior staff and other stakeholders.
- Networks with colleagues in other departments to gain information on trends and risks and makes recommendations regarding adoption of enhanced supervisory practices.
- Develops and maintains key stakeholder relationships across the sector and with other regulators.
Education and Experience
- Degree in finance, business, economics, law, accounting, or related field.
- Master’s degree and/or professional designations (FRM, CPA, CFA) are preferred.
- 7 – 10 years’ experience in financial services such as risk management, retail/commercial or corporate lending, investment banking, preferably with 3 – 5 years’ experience in a relationship management role, preferably within a regulatory environment.
- Experience with developing and managing complex relationships with stakeholders.
- Experience with assessments of the operations and financial condition of financial institutions (e.g. credit unions, banks, insurance companies, trusts, broker-dealers).
Knowledge and Skills
- Skilled in developing and managing complex relationships with sophisticated stakeholders.
- Demonstrated financial analysis, credit, risk assessment, and/or risk management skills.
- Demonstrated critical thinking and problem-solving skills.
- Working knowledge of capital, liquidity, stress testing, and crisis management.
- Working knowledge of Three Lines of Defense and corporate governance.
- Demonstrated financial, risk and controls analysis skills.
Job Posting End Date: 04/22/2021 Job postings close at 11:59pm on the date noted.
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