Compliance Officer

at  Financial Services Regulatory Authority of Ontario FSRA

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
, comprehensive and competitive benefits plan, a hybrid work model and flexible work arrangements. We prioritise 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:

QUALIFICATIONS

Specialized Knowledge 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.

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.

NOTE : The Job Posting will be closed on April-19-2024.
Job Posting End Date:
04/19/2024
Job postings close at 11:59pm on the date noted.
Compensation Grade:
Grade 228-OPSEU ADM
Compensation Range:
$1,346.59
-
$1,723.34
Bargaining Unit:

OVERVIEW OF ROLE

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 escalate enforcement action, or to assist with examinations for specific compliance concerns.