Senior Risk and Financial Analyst, Insurance and Trust Supervision

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BC Public Service

Ministry of Finance - FICOM

Surrey, Vancouver

 

Senior Risk and Financial Analyst, Insurance and Trust Supervision 

Salary $73,400.00 - $101,900.00 annually

The Financial Institutions Commission (“FICOM”) regulates the pension, financial services and real estate industries in British Columbia (B.C.). This regulation is designed to protect the public against the insolvency of financial institutions, prevent improper market conduct in the financial services and real estate sectors, provide deposit insurance for members of B.C. credit unions and ensure the solvency of pension funds. The Insurance and Trust Department, in the Financial Institutions Division, is responsible for the administration and enforcement of the Financial Institutions Act and Insurance Act.

The Senior Risk and Financial Analyst undertakes analysis and assessment of the risk profile and risk management practices of provincially regulated insurance and trust companies and participates in on-site reviews. This is a challenging role that encompasses the supervision of provincially regulated insurance and trust companies to determine whether they are in sound financial condition; advises institutions in the event there are material deficiencies and take, or require management or boards to take necessary corrective measures expeditiously; and contributes towards an up-to-date risk assessment of insurance and trust companies and a supervisory strategy for each company which includes examining and monitoring of its financial condition, the effectiveness of oversight and control functions, and following up on corrective actions.

Qualifications for this role include:

  • Post-secondary degree in a field related to business, finance, economics or equivalent.
  • A minimum of 3 years demonstrated Insurance and/or trust industry experience in conducting internal or external audits of insurance/trust entities, financial analysis, actuarial valuations, claims settlement, insurance underwriting, risk management assessments or asset management.
  • An equivalent combination of education and experience may be considered.
  • Preference may be given to applicants that have: