Senior 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:
Purpose of Position
Accountable for performing compliance examinations, field inspections, desk reviews and other supervisory activities of entities regulated by FSRA.

Key Responsibilities

• Leading and/or performing on-site, desk, thematic or supervisory reviews to assess market conduct risks, which may include corporate governance structures, policies and procedures, business and codes of conduct, compliance with FSRA legislation and regulations, and the viability of business operations and standards.
• Monitoring and controlling the examination and project processes for quality and progress, issues resolution and achievement of deliverables.
• Providing technical advice, information and guidance to financial institutions, and information to the public and to industry representatives regarding the interpretation and application of market conduct compliance legislation, regulations, policies and business standards.
• Recommending actions to address non-compliance and/or ability to influence regulated entities for the implementation of best practices.
• Preparing identified files for referral to FSRA’s Case Management Committee for escalated enforcement action as required.
• Providing input to procedures, processes and standards, supervisory plans including their development and to new or proposed revisions to legislation and policies.
• Contributing to internal or external communications (e.g. reports to industry, consumer messages) relating to compliance, interpretation and application of regulatory requirements.
• Responding to escalated phone inquiries and occasionally handling complaint files as assigned.
• Occasional travel within Ontario is required.

Qualifications

Education and Experience

• University degree in business, economics, law, accounting, or other relevant fields or equivalent experience.
• Minimum 5 years of related experience, such as compliance or internal audit, at a financial institution in another regulated sector (e.g., life insurance, P&C insurance, health services provider, mortgage brokerage and administration, loan and trust, pension, and credit unions).

Knowledge and Skills

• Demonstrated knowledge of, and expertise in examinations, reviews, analysis and assessment principles, practices and regulatory tools and techniques.
• Knowledge of applicable laws and regulation is an asset.
• Demonstrated knowledge of internal audit theory, risk-based regulatory practices, principles, standards and techniques, and industry audit standards and approaches.
• Advanced financial analysis skills is an asset.
• Knowledge of the financial services industry, business operations, risk management processes and internal controls framework as well as current developments in a regulated financial services sector.
• Knowledge of developments in national and international financial services regulatory standards.
• Ability to plan, lead and execute on projects/engagements.
• Ability to interpret and apply legislation in support of market conduct reviews, assessments and findings.
• Ability to collaborate with FSRA business partners and stakeholders.
• Demonstrated research, risk assessment, analytical, problem-solving skills.
• Proven superior written and verbal communication skills.
• Demonstrated customer service, consultation, and stakeholder relationship management skills.

Job Posting End Date:
01/30/2025
Job postings close at 11:59pm on the date noted.
Compensation Grade:
Grade 229-OPSEU ADM
Compensation Range:
$1,450.90
-
$1,862.95
Bargaining Unit:

• Leading and/or performing on-site, desk, thematic or supervisory reviews to assess market conduct risks, which may include corporate governance structures, policies and procedures, business and codes of conduct, compliance with FSRA legislation and regulations, and the viability of business operations and standards.
• Monitoring and controlling the examination and project processes for quality and progress, issues resolution and achievement of deliverables.
• Providing technical advice, information and guidance to financial institutions, and information to the public and to industry representatives regarding the interpretation and application of market conduct compliance legislation, regulations, policies and business standards.
• Recommending actions to address non-compliance and/or ability to influence regulated entities for the implementation of best practices.
• Preparing identified files for referral to FSRA’s Case Management Committee for escalated enforcement action as required.
• Providing input to procedures, processes and standards, supervisory plans including their development and to new or proposed revisions to legislation and policies.
• Contributing to internal or external communications (e.g. reports to industry, consumer messages) relating to compliance, interpretation and application of regulatory requirements.
• Responding to escalated phone inquiries and occasionally handling complaint files as assigned.
• Occasional travel within Ontario is required