Senior Resolution and Payout Program Analyst

at  BC Financial Services Authority

Posting Title Senior Resolution and Payout Program Analyst
Department: CEO Office
Full/Part Time:
Job Type: Permanent
Location: Vancouver
Work Arrangement: Hybrid
Salary Range: $85,313.00 - $132,830.00
Close Date: 04/09/2024

JOB SUMMARY

BC Financial Services Authority (“BCFSA”) helps to protect British Columbians during the biggest financial decisions in their lives. We regulate B.C. ’s financial services sector, including credit unions, real estate licensees, registered pension plans, insurance and trust companies and mortgage brokers. Through modern, effective and efficient oversight, BCFSA protects consumers by impartially setting and enforcing standards across the entire sector ensuring the prosperity of the province.
BCFSA is an equal opportunity employer and welcomes applications from all groups. This includes Indigenous Peoples, women, visible minorities, persons with disabilities, persons of diverse sexual orientation, gender identity or expression (LGBTQ2S+), and others who may contribute to diversity at BCFSA.

We recognize unique styles, perspectives, beliefs, and creativity that support a diverse, respectful, inclusive and collaborative work environment. To achieve this, we are committed to:

• Hiring team members who represent the population we serve;
• Removing barriers that may prevent equitable employment; and
• Supporting respectful work environments where everyone feels included and able to produce excellent results.

BCFSA is proud to be Great Place to Work Certified™. This is based on direct feedback from our Team Members. Our organization has also been selected as one of BC’s Top Employers (2023) in recognition of our competitive compensation, work-life balance, and progressive programs.

SUMMARY

This position plays a critical role in analyzing emerging risks related to the Resolution Options Framework, including close collaboration with internal and external stakeholders for the development and maintenance of an effective Payout Program, ensuring compliance with legislative requirements and international best practices.

ACCOUNTABILITIES

Resolution Option Framework
 Analyzes emerging risks of the BC credit union segment and contributes to the identification and ongoing monitoring of relevant market trends.
 Conducts research and analysis of various resolution options, including evolving international practices related to resolution framework.
 Collaborates with Policy and Legal on the review of regulatory requirements and proposes changes according to international best practices.
 Contributes to the development of the resolution option framework, ensuring seamless integration with existing systems and processes.
Payout Program
 Performs as the subject matter expert in administration and continuous improvement of the CUDIC Payout Program, including the payout Playbook, Policy Manual and related processes and procedures.
 Interprets legislation, regulation, and relevant policies and procedures to make recommendations to peers and senior staff that support an effective implementation of the Payout Program.
 Develops and implements robust testing and simulation exercises to improve Payout Program effectiveness and proposes changes in payout practices and reporting standards.
 Participates in contingency planning relating to deposit insurance payouts.
Stakeholder Engagement
 Works with internal and external industry stakeholders to gather information related to the resolution framework and Payout and implements program betterments and best practices.
 Responds to inquiries regarding Deposit Insurance and Payout Program.
 Develops briefing notes/ memos, correspondence, and information material for internal and external audiences.
Team Member Responsibilities
 Actively participates in research studies, special CUDIC Operations projects and presentations.
 Provides orientation and training to internal and/or external stakeholders within area of responsibility.
 Contributes to, participates in, and supports organizational business transformation initiatives.

JOB REQUIREMENTS

• Knowledge of content, interpretation, and application of the Financial Institutions Act/ Regulations and the Credit Union Incorporation Act/ Regulations.
• Knowledge of the credit union business model and the Deposit Insurance system with its related frameworks.
• Knowledge of resolution options and related legislative requirements for effective resolution regimes.
• Knowledge of the methods and procedures involved in the development and management of deposit protection programs.
• Knowledge of financial analysis techniques and business operational procedures.
• Ability to exercise judgement, initiative, and discretion.
• Superior oral and written communication skills.

EDUCATION

• Degree in business, finance, accounting, or economics and 3-5 years of related experience, or an equivalent combination of education and experience.
  Related experience includes:
  o Analyses or examinations experience in the financial services, business, or commercial sectors
  o Interpreting and applying legislation, regulations, and/or policy
  o Developing payout programs and/ or resolution regimes for financial institutions
  o Exposure to payments processes and procedures and their development

Please refer the Job description for details