Role Responsibilities

Reporting to the Manager, Prudential Supervision, Insurance Regulation and Market Conduct, you will serve as a supplementary Relationship Manager and be responsible for managing and conducting the regulatory and supervisory activities necessary to ensure the operational safety and soundness of the following regulated insurance entities:

In this position, you will work closely with Alberta’s regulated insurance entities providing guidance and information, conducting examinations, reviewing new licence or change applications for licensing or incorporation in Alberta, and supporting the issuance of assessments levied to insurance entities operating in Alberta. You will review and assess industry trends, risks, and changes, and contribute alternatives and recommendations to ensure Alberta’s supervisory objectives continue to be met.

This Senior Analyst position is responsible for fulfilling other Branch responsibilities including, but not limited to:

• Supervising the solvency, governance, compliance, and risk management practices of insurance entities for which Alberta is the primary regulator, using acute problem solving and interpretive skills to monitor, analyze, and evaluate complex and technical financial information.
• Conducting examinations of regulated entities in accordance with a risk-based supervisory framework, inclusive of regular desk examinations and onsite reviews.
• Reviewing, analyzing, and providing recommendations on the capital management, reinsurance, investment, outsourcing, and other risk mitigation policies and procedures of regulated entities in relation to the nature, size, complexity, and risk profile of their operation.
• Reviewing compliance with legislation and regulations, identifying areas of non-compliance, and using independent judgement to identify and explore areas of concern and recommend acceptable solutions.
• Reviewing and analyzing new licence and change applications for licensing or incorporation in Alberta, and overseeing the renewal of Financial Responsibility Cards through risk-based desk review.
• Monitoring unlicensed insurance reporting compliance, including providing details of legislative reporting requirements to industry and consumers, and assisting with desk examinations and onsite reviews.
• Supporting the administration of the Recovery of Administration Costs regulation, including calculating fees payable and assisting with the invoicing and collection of industry-wide assessments levied to roughly 235 insurance entities operating in Alberta.

Supporting harmonized financial reporting and supervisory processes across Canadian jurisdictions by participating on committees with regulators across Canada and making recomm

The is provided for Further details on this position.

APS Competencies

Competencies are behaviors that are essential to reach our goals in serving Albertans. We encourage you to have an in depth understanding of the competencies that are required for this opportunity and to be prepared to demonstrate them during the recruitment process.

• Agility: You anticipate, assess, and readily adapt to changing priorities when working with regulated entities, applying problem solving and interpretive skills to monitor, analyze and evaluate complex and technical financial information while managing a number of initiatives simultaneously.
• Systems Thinking: You anticipate outcomes and potential impacts across interrelated legislation, entities and risks, and understand how changes in the insurance marketplace can affect regulated entities – recommending adjustments to supervision to account for these changes.
• Creative Problem Solving: You break apart complex problems and engage the right people to identify risks and recommendations, using considerable professional judgment where standards are evolving and existing rules and guidelines do not provide a complete answer.
• Drive for Results: You execute the Branch’s prudential supervision plan while maximizing available resources and manage a large volume of work with care and attention to the recommended course of action.
• Building Collaborative Environments: You maintain open communication with regulated entities and your team to enable proactive supervision and represent Alberta with regulators across Canada to advance shared regulatory outcomes.

Qualifications

The position requires a university degree in a related field (such as business, accounting, finance, economics, or risk management) and a minimum of two years of related work experience. Related work experience includes the insurance industry, financial analysis, accounting, analytics, or risk management.

Equivalency:

• 1 year of education for 1 year of experience;
• 1 year of experience for 1 year of education.
  
  

The following would be considered an asset:

• A professional accounting or analytical designation, or related insurance industry qualifications (e.g., CPA, CIP, FCIP, ACIA, FCIA);
• Knowledge of the Insurance Act and related legislation and regulations, as well as the applicable supervisory guidelines and framework;
• Knowledge of, and experience in, the insurance industry, including property and casualty and/or life insurance;
• An understanding of the specific tests, procedures, and financial analyses carried out to achieve regulatory objectives;
• Expertise in Enterprise Risk Management and corporate governance best practices;
• Awareness of International Financial Reporting Standards (IFRS) and audit systems;
• Knowledge of, or experience with, international, federal, and provincial regulatory guidelines and processes;
• Demonstrated ability to communicate effectively and collaborate strategically with a variety of stakeholders while balancing the needs and interests of different groups

Directly related education or experience may be considered on the basis of 1 year of education for 1 year of experience, or 1 year of experience for 1 year of education. For example, a related two-year diploma combined with additional years of related experience will be considered.

A cover letter outlining how your experience relates to the qualifications and assets listed above is required and will help us to better understand your fit for this role.

Minimum recruitment standards outline the minimum education and experience required for appointment to a job classification.

Notes

Permanent full-time position working 36.25 hours per week, Monday to Friday (In-office). Location is in the Terrace Building, 9515 107 Street NW, in downtown Edmonton

Candidates may be asked to participate in a written assessment.

Candidates with lesser qualifications may be considered at a lower classification and salary. This competition may be used to fill current and future vacancies at equal or lesser classification across the Government of Alberta.

Final candidates will be required to undergo a security screening.

• Final candidates will be required to undergo a criminal records check (CRC).
• Applicants being considered for this position will be required to complete a level 1 Security screening (including an enhanced criminal record check as part of the pre-employment checks for this position.

Any costs associated with obtaining the required documents/checks as noted or interview travel expenses, will be the responsibility of the candidate. Out-of-province applicants can obtain the required documents/checks from the province they currently reside in.

Links and information on what we have to offer:

• Working for the Alberta Public Service
• Public Service Pension Plan (PSPP)
• Alberta Public Service Benefit Information
• Professional learning and development
• Research Alberta Public Service Careers tool
• Positive workplace culture and work-life balance.