Senior Risk Analyst

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, and a comprehensive and competitive benefits plan. We prioritize 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 conducting detailed risk analyses, assessments and reporting on an assigned portfolio of financial institutions and for leading change in departmental processes and systems in support of overall regulatory risk management and Risk Assessment and Monitoring strategies.

KEY RESPONSIBILITIES:

• Conducts comprehensive risk analysis of business intelligence, market data, financial and other regulatory information requested from / submitted by credit unions, to assess each institution’s overall performance in such risk areas as: credit, market, structural, liquidity, operational and strategic.

• Maintains risk assessment profiles for each institution based on detailed analysis of prescribed factors and identifies the impact of emerging risks as trends as well as providing an action plan for further monitoring and follow up.

• Supports the preparation and analysis of sector and peer related information and data trends – including published data on the FSRA website

• Supports the development and maintenance of data collection and reporting in collaboration with IT and Macro Surveillance Analytics (MSA) team.

• Develops and maintains business relationships across the Credit Union and Insurance Prudential Function (in conjunction with other Supervisory Teams) to provide risk analysis expertise, collaboration and services in support of decision making and other initiatives.

• Ensures institution risk profiles and related documentation remain current and accurate to support decision making regarding supervisory actions.

• Support the administration of the deposit insurance process, reviewing Differential Premium Score Determination (DPSD) documentation, DPS scores and insurance premium amounts.

• Provides analytical support and recommendations to inform decision-making regarding regulatory requests and approvals (e.g, request for new subsidiary, capital issuance, significant investments, new business etc).

• Prepares qualitative and quantitative reports to support supervisory reviews, continuous monitoring, targeted and comprehensive assessments, and other decision-making activities (e.g. policy changes, Guidance Notes, Industry Advisories etc) including regular and ad hoc sector trend analysis.

• Develops, produces and supports standardized internal tools, reports and reporting templates

• Supports internal and external ad hoc data requests and quantitative reporting

• Supports the development of risk assessment, monitoring and stress testing tools and methodologies

• Supports risk assessment and monitoring business process review initiatives from concept through to change management implementation and post implementation reviews aimed at developing and/or improving the effectiveness of existing data collection, analysis and reporting methods.

• Ensures documented processes are in place to effectively execute all required risk assessment activities.

QUALIFICATIONS

Education and Experience

• Degree in finance, business, accounting, or related field combined with a C.A, CPA or CFA designation

• 3 – 5 years’ experience in risk analysis and assessment within a financial or business environment

• Knowledge of risk analysis and assessment methodologies and techniques.

• Demonstrated knowledge of business process methods and techniques and expertise in leading business process reviews and change management initiatives through to implementation.

Knowledge and Skills

• High level skills in using data analytics and visualization technologies and tools (e.g. Python, MS Excel, MS SQL, MS Access, PowerBI) to manipulate large data sets to analyze, test, validate, visualize and report data.  Certification on Microsoft Power BI Data Analyst Exam PL-300 is an asset.

• Strong analytical and data management skills with the ability to collect, organize, analyze, and disseminate significant amount of information.  Knowledge of data architecture, databases, and data modeling is an asset.

• Risk, financial and business analysis skills to analyze complex financial institutions.

• Familiarity with regulatory risk-based supervisory framework

• Written communication skills to prepare comprehensive risk analysis and assessment reports as well as change management projects.

• Oral communication and interpersonal skills to provide risk analysis expertise, customer services and lead/ support change initiatives with multiple stakeholders.

• Working knowledge of legislation and ability to interpret and apply legislation and regulations in a regulatory environment.

Please note that this position will close at 12AM on the closing date

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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