Head, Regulation And Strategic Initiatives

FSRA is guided by our vision of financial safety, fairness and choice for Ontarians. We achieve this by public service through dynamic, principles-based and outcomes-focused regulation. FSRA is committed to attracting and retaining exceptional people who bring energy, expertise, and experience. This includes providing a comprehensive total rewards package that looks beyond compensation and takes into consideration those things that are important to employees:

• Competitive benefits plan, including a Defined Benefit pension plan
• High employee engagement scores with opportunity for growth, learning and development
• Culture of giving back to our communities through charitable activities
• Promoting wellness and fostering an inclusive environment where all employees feel valued and respected
• Flexibility with a hybrid work model in an office designed for collaboration

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PURPOSE OF POSITION

Accountable for providing leadership in the development and implementation of regulation and supervisory practices for the credit union and insurance sectors, and implementing strategic initiatives and stakeholder relations and engagements that further FSRA’s mandate.

Key Responsibilities

• Provides strategic advice and expertise to the CEO, FSRA executive, and the Board of Directors on departmental plans, priorities and outcomes including strategies, services, issues, and challenges.
• Provides thought leadership on best practices for corporate governance and risk management to evolve and progress the risk maturity of CUIP, FSRA, and regulated sectors.
• Develops operational plans for the department, which align with and support CUIP’s and FSRA’s overall strategic and business plans. Accountable for the management of the department budget.
• Strategically sets the agenda for all standing Technical Advisory Committee, Special Purpose Advisory Committee, and Stakeholder Advisory Committee meetings.
• Promotes and drives innovation and continuous improvement across FSRA and regulated sectors and fosters an environment and culture of service excellence which respects diversity, encourages all employees to work together to achieve results and contribute to a healthy, rewarding, and productive working environment that acknowledges the linkages between personal and team accountability and meeting FSRA’s mandate and exemplifying FSRA’s values.
• Directs the planning and implementation of the strategy and priorities for the department within the overall vision, strategy and priorities of the Credit Union and Insurance Prudential (CUIP) division supporting FSRA’s regulatory role and mandate.
• Assists the EVP of CUIP with annual sector priority setting, ongoing monitoring and reporting, development of and updates to sector strategy, and preparation of materials for FSRA’s CEO and Board of Directors, the Ministry of Finance, and the Minister’s Office.
• Accountable for maintaining a strong team including hiring, orienting, training, and coaching of staff, determining performance standards, conducting performance reviews, and managing performance and employee relations matters.
• Oversees strategic initiatives and projects from development through successful execution such as systemic issues where concerns have been identified, new draft legislation, developing and supporting guidance for the sector, consumer website, products and strategies for financial institutions.
• Oversees, builds, and develops subject-matter experts and specialists across multiple disciplines (governance, culture, capital, liquidity, crisis management, resilience, non-financial risks) responsible for the development of regulatory guidance and prudential supervisory practices and the active support of supervisory assessments.
• Represents FSRA by leading and participating on projects, working groups and committees within FSRA, provincially, and nationally to ensure effective monitoring of developments, integration of efforts, identification of issues and opportunities to influence CUIP and FSRA strategies, and to enhance FSRA’s reputation.
• Champions and leads critical change initiatives and a collaborative forward thinking culture within CUIP to achieve this across the enterprise.
• Executes comprehensive relationship management strategies for stakeholder outreach and engagement through collaboration with colleagues at all levels of FSRA who have a vested interest in the success of strategic outcomes.
• As a member of the FSRA leadership team contributes to the FSRA strategy and tactics, and provides leadership in executing programs, services, and initiatives to deliver on strategies.
• Actively and continuously leads aligning and integrating, across FSRA departments and teams, the application of principles-based and risk-based approaches.
• Oversees and fosters a division-wide supervisory perspectives by promoting the development of supervisory skills, experiences, and practices.
• Collaborates with peer regulators, develops partnerships, and maintains strategic relationships with external stakeholders to promote resilience and continued confidence in the credit union and insurance sectors.
• Oversees and promotes a supervision-focused approach to the development and implementation of approvals, regulatory initiatives, and prudential practices programs to strengthen the linkages between principles-based regulation, rules, and guidance, and risk-based supervision to meet the overall strategic plans and priorities of the CUIP division for the regulation and supervision of the credit union and insurance sectors.

Qualifications

Education and Experience

• Expertise in training and development at all levels of an organization and driving cultural change.
• Experience with engaging stakeholders and developing relationships.
• Degree in finance, economics, business, science, law, or related field; graduate degrees preferred; relevant designations preferred.
• Experience with leading strategic initiatives and projects.
• 8-10 years’ experience providing direction and oversight in a financial services environment with expertise in strategic relationship management, corporate governance, risk management, crisis management, resilience, and intervention activities; experience in banking, credit unions, insurance companies is preferred; experience in financial regulation is preferred.
• Expertise engaging board of directors and senior management of financial institutions, particularly in challenging situations.

Knowledge And Skills

• Skilled in leading sector consultations, education and training using principle-based and risk-based approaches to service delivery and issues resolution.
• A proven strategic leader with expertise in leading and championing change for a modern organizational culture and vision.
• Skilled in leading stakeholder management and consultations with senior executives and board of directors of the regulated sectors.
• Demonstrated knowledge of and skills in risk assessment and risk management in relation to sectors regulated by FSRA.
• Leadership skills to implement an effective and efficient organizational structure, systems, methodologies, and standards.
• Strategic, adaptable, forward-thinking, with a strong understanding of the financial services environment.
• Thought leadership to deliver solutions using principles-based and risk-based approaches to support innovation and evolution of FSRA and the regulated sectors.

Job Posting End Date:

07/28/2023

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