Senior Examiner (Regulatory Auditor/Internal Auditor - Insurance)

SUMMARY 

This position monitors market conduct risks of provincially regulated financial institutions; and leads complex high-profile supervisory activities to assess compliance with regulatory requirements.   

ACCOUNTABILITIES  

• Plans, leads and/or conducts complex regulatory examinations on high-risk files that may cross organizational boundaries, be high profile in terms of stakeholder interests, have high public visibility, and have external interfaces.  

• Leads multi-functional, multi-disciplinary, and cross-jurisdictional teams of internal and external stakeholders on examination files and project and policy work focused on the identification of market risks and coordinated intervention.  

• Applies in-depth technical and professional knowledge to analyze quantitative and qualitative information from a variety of internal and external sources, to identify risks, themes, and/or systemic issues and make recommendations regarding the subject, and scope, of examinations.  

• Leads the collection and analysis of data from monitoring activities to identify and assess conduct risks. 

• Analyses data (structured, unstructured, qualitative, and qualitative) and produces reports and visualizations using Power BI, Tableau.   

• Proactively identifies and recommends financial institutions for examination.  

• Carries out desk-based and/or on-site examinations to assess compliance or vulnerabilities in business practices by conducting interviews and gathering and evaluating documentary evidence in accordance with established regulatory tactics/strategies and legislative requirements.  

• Achieves voluntary compliance during examinations and, identifies opportunities to educate industry participants and reinforce good business practices that align with regulatory expectations.  

• Prepares written reports based on examination results that may include recommendations to address weaknesses, take proactive regulatory action, and improve policies, procedures, practices, and legislation.  

• Supports formal regulatory intervention or enforcement action, and testifies at regulatory, tribunal, and other hearings.  

• Contributes to the team’s development of internal work practices (e.g., policies, procedures, and tools).  

• Provides orientation and training to internal and/or external stakeholders within area of responsibility.  

• Participates and contributes to market conduct strategic initiatives, special projects and working groups.  

• Contributes to, participates in, and supports organizational business transformation initiatives.  

JOB REQUIREMENTS  

• This position requires a high degree of self-motivation, attention to detail, strong financial and critical thinking skills, and a commitment to delivering high-quality work within established deadlines.   

• Leading or managing teams, including on projects, partnerships, taskforces, and related activities.    

• Knowledge of relevant legislation, regulations, and/or policies governing the regulatory program or similar regulatory programs.  

• Knowledge of insurance operations, practices, and products. 

• Knowledge of risk management principles and methods.  

• Knowledge of administrative law.  

• Ability to exercise judgement, initiative, and discretion.  

• Ability to influence compliance with legislation, regulation, and policy.  

• Superior oral and written communication skills.  

• Knowledge of credit union, and/or banking operations is an asset. 

EDUCATION  

• Degree in business, public administration, or accounting and some related experience or, an equivalent combination of education and experience. Related experience includes:  

• • Leading and/or conducting complex, high risk, and/or high-profile examinations or similar activities (financial or compliance audits)

  • Developing and maintaining cross-functional and/or cross-organizational working relationships 

  • Interpreting and applying legislation, regulations and/or policy.  

Preference may be given to applicants with experience in the insurance, banking, or credit union industry.