Compliance Officer - Insurance Division

FCNB is a leader in integrated financial and consumer services regulation. FCNB's mandate is to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. With offices in both Fredericton and Saint John, it is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, cooperatives, unclaimed property, and a wide range of consumer legislation. The Commission is a self funded Crown corporation responsible for the administration and enforcement of financial consumer services legislation.

We offer opportunities for dedicated professionals to play a vital role in carrying out our mandate.

Compliance Officer - Insurance (Fredericton office)

We are looking for a Compliance Officer to join our Insurance team. Reporting to the Senior Compliance Officer, you will conduct compliance reviews and examinations to help ensure insurers, licensed agents, brokers and other intermediaries are meeting their regulatory obligations. From reviewing business and financial records and conducting interviews and site visits, to working with industry and regulatory partners, you will play an important role in identifying potential compliance concerns and promoting strong industry practices.

Your Focus

Regulatory Administration

• Conduct compliance reviews and examinations to assess compliance with the Insurance Act, its rules and regulations, and other applicable legislation.
• Examine and analyze financial, legal, corporate and business records and industry practices to identify potential breaches or areas of non-compliance.
• Manage compliance concerns and allegations in a timely and consistent manner, following established procedures and performance standards.
• Provide guidance and advice to stakeholders to promote compliance, strengthen awareness and reduce the risk of fraud and non-compliance.

Policy and Planning

• Support the development, implementation and review of compliance policies and procedures to address allegations of non-compliance.
• Research emerging compliance issues and industry risks and develop recommendations and processes to address areas of concern.
• Maintain processes for compliance reporting and for tracking complaints, allegations, reviews and investigations.
• Share information on emerging compliance issues and best practices while maintaining appropriate documentation and protection of compliance information.

Stakeholder Relations

• Build and maintain collaborative relationships with insurers, licensed intermediaries, financial institutions, enforcement agencies, legal representatives, regulatory bodies and the public.
• Provide education and information to stakeholders to promote compliance and awareness of regulatory requirements.
• Collaborate with regulatory partners across Canada to address common issues, share best practices and support compliance initiatives.
• Represent New Brunswick on national regulatory committees and respond to inquiries from industry, government, legal representatives and the public.

What you bring

• University degree in Business Administration, Commerce, Law or similar discipline
• 5-10 years of industry experience
• 3- 5 years compliance related experience within a regulatory, enforcement, audit or compliance environment with demonstrated competencies in analytical thinking
• Good problem-solving skills using sound judgement by exercising tact and discretion
• Effective communicator in both collegial and adversarial situations with solid interview skills
• Highly analytical and results oriented use sound judgment
• Bilingual (French and English)

Additional Strengths

• Experience in conducting investigations, and compliance reviews would be an asset

The Financial and Consumer Services Commission offers a competitive salary and benefit package as well as excellent opportunities for personal growth and challenge. Salary will be commensurate with experience. If you are interested in being a key part of this team, please forward your résumé and covering letter.

Salary Range: $75,482 to $103,787 (annual compensation)

As a condition of employment, the successful candidate will be required to undergo a pre-employment background check in accordance with the Commission's Pre-Employment Background Checks Directive. This may include criminal record checks, credential verification, and reference checks.

For more information about this position please visit our website at www.fcnb.ca or call the Talent Acquisition Specialist at (506) 643-7790.

Please note that only candidates selected for further evaluation will be contacted.