• Job Description

  Req#: R001900

  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 , comprehensive and competitive benefits plan, a hybrid work model and flexible work arrangements. We prioritise 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:

  PURPORSE OF POSITION

  Responsible for the monitoring, assessment and approval process for the regulation and supervision of auto insurance industry rates, rules, products, and other insurance products, including accreditation applications, decisions and filing submissions, ongoing monitoring and risk assessment in support of the Auto/Insurance Products plans, priorities and strategies.

  KEY RESPONSIBILITIES:

  • Responsible for the rate and underwriting regulation supervisory process, including accreditation applications, underwriting rules, forms, product approvals, and actuarial reviews in adherence with FSRA’s performance measures, standards, and best practices in support of FSRA’s overall strategic direction for the regulation and supervision of auto insurance industry rates, rules, products and other insurance products.

  • Responsible for risk assessment of insurers, including assessing insurer accreditation applications, and ongoing monitoring of insurer adherence to eligibility conditions and criteria, Responsible for the review and assessment of filing submissions (e.g. rate and risk classification systems, rating errors and their resolution, forms) and to make recommendations regarding approval or decision, consistent with requirements under the Insurance Act and FSRA guidance.

  • Conducts analysis and reviews (e.g., self-assessments, thematic reviews, market intelligence, monitoring tools and reports) to analyze and report on the performance of insurers, the market and product to assess risk and identify issues including insurer performance at achieving defined outcomes (e.g., fairness, transparency)

  • Participates and contributes to the development and maintenance of Guidance that is the responsibility of Auto/Insurance Products

  • Provides subject matter expertise and support of government led auto insurance product reforms.

  • Manages the relationship for an assigned and diverse portfolio of P&C Insurers in respect of their automobile line of business, to communicate consistent messaging of FSRA’s regulatory requirements, expectations, and the remediation of regulatory and risk management issues.

  • Works cross-functionally with FSRA areas to manage relationships with stakeholders, the identification and management of potential violations to the auto insurance legislative requirements related to rates and underwriting, and the coordination of enforcement/legal actions by the regulator, as required.

  • Assists the Senior Managers, Directors and Head in developing and applying the overall strategic direction for the regulation and supervision of auto insurance industry rates, rules, products and other insurance products to enable FSRA to supervise insurers writing automobile insurance

  • Collaborate with internal stakeholders, including insurance prudential and market conduct, to address property and casualty insurance companies’ issues and concerns on operational risk, governance, solvency, and market conduct.

  QUALIFICATIONS:

  Education and Experience

  • Diploma or degree in business administration, risk management, finance, law, economics, public policy, analytics (e.g. actuarial science, mathematics) or a related field.

  • 10 years’ recent and relevant experience in auto insurance business of pricing, risk selection, product, or related work.

  Knowledge and Skills

  • Exceptional written and verbal communication skills

  • Skills and ability to manage and coordinate the use of vendors and experts (e.g., lawyers, risk consultants)

  • Skilled in developing and managing complex relationships with sophisticated stakeholders.

  • Demonstrated skills/knowledge of the business of insurance

  • Demonstrated critical thinking and problem-solving.

  • Working knowledge of risk and controls.

  • Skills to work effectively in a matrix structure involving expert collaboration and judgement in use of escalation.

  * Please note that this position will close at 11:59PM on May 29th 2025*

  Job Posting End Date:

  05/29/2025

  Job postings close at 11:59pm on the date noted.

  Compensation Grade:

  RM 7 - AMAPCEO

  Compensation Range:

  $113,300.00

  -

  $135,960.00

  Bargaining Unit:

  AMAPCEO

  Job Code:

  Job Code: RM01

  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

• About the company

  Financial Services Regulatory Authority of Ontario #FSRAO. FR: @ARSF_Nouvelles. We monitor this account Mon-Fri 8AM-4PM. TERMS: https://t.co/D82If7Bpgz

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