Senior Manager, Risk Classification Systems and Analytics

The Financial Services Regulatory Authority of Ontario (FSRA) is a dynamic, innovative, independent and self-funded regulator of financial services and pensions. The organization promotes strong financial services and pension sectors while protecting the public interest. FSRA has responsibility for regulating property and casualty insurance (including auto insurance rates); life and health insurance; credit unions and caisses populaires; loan and trust companies; mortgage brokers; health service providers (related to auto insurance); and pension plans. We are building an agile, forward-thinking and collaborative culture, and FSRA is committed to encouraging innovation and competition, and promoting market integrity and stability. This is an exciting opportunity to help shape the regulator of the future

Position Title: SENIOR MANAGER, RISK CLASSIFICATION SYSTEMS AND ANALYTICS

Reports To: Director, Auto Risk Classification, Products and Expenses

Positions Supervised: Lead, Data and Analytics

Posting date:  November 8, 2019

Closing Date: November 22, 2019

Purpose of Position

Accountable for managing the delivery and oversight of Risk Classification Systems and Analytics Unit programs or services in support of overall Auto Risk Classification, Products and Expenses Section strategies.  

Key Responsibilities

  • Manages the delivery of Risk Classification Systems and Analytics Unit programs or services, ensuring consistency with overall section or department performance measures, standards, and best practices and integration with overall FSRA directions, with a focus on assessing the current state of the auto insurance risk classification system and implementing the change to enable auto insurance innovation and customer choice.     
  • Develops and implements the data and analytics strategy that includes data collection, analysis and governance conducted internally and by other entities in the auto insurance system to promote transparency, evidence-based decision-making and proactive identification of market trends.
  • Develops and implements the model governance framework with a focus on the use of Machine Learning and Artificial Intelligence in auto insurance risk classification system, and related supervisory tools to validate the effectiveness of regulated entities’ governance of rating and risk classification systems.
  • As part of the management team, supports FSRA leadership in formulating strategy and developing tactics and provides leadership in executing programs or services to deliver on strategy and tactics. 
  • Oversees the implementation of section or department programs, services and work areas, including operational processes and procedures to meet the overall operational plans and priorities of the section or department.    
  • Provides program/service expertise and advice to FSRA management and staff in response to operational or program issues impacting the achievement of department or sub-function directions; providing evidence-based recommendations for problem resolution and improvement to methods to deliver programs or services.
  • Manages the unit and its staff to support an environment and culture of service excellence which respects diversity, encourages all employees to work together to achieve results and contribute to a healthy, rewarding and productive working environment where personal and team accountability are key to meeting the mandate of FRSA.  Accountable for hiring, orienting and training of staff, determination of performance standards and conduct of performance reviews, managing employee relations matters.  
  • Works with the Director in operational planning, development and reporting on performance metrics, program effectiveness, risks and impacts related to unit, section and department matters.  
  • Supports critical change and a new collaborative, forward thinking culture within the unit, and works with others to achieve this across the section or department. 
  • Promotes and supports the implementation of innovation and continuous improvement throughout the unit and section or department. 
  • Leads and/or participates on projects within the section, department to represent the unit’s interests in program or service decision making.
  • Develops and manages relationships and consultation with stakeholders impacted by unit programs and operations to discuss and clarify program or service-related issues and needs.   
  • Works in collaboration with colleagues on section department priorities for FSRA.    

Qualifications      

Education and Experience

  • Degree in actuarial science, analytics, mathematics, statistics or a related field.
  • 6 – 8 years’ experience in planning and managing the delivery of programs or services in the area sophisticate auto insurance pricing or related work for a large organization combined with expertise in working as a member of a larger relevant function/department.
  • Relevant industry experience preferred

Knowledge and Skills

  • Skills and ability to manage and champion change for a new organizational culture and vision.
  • Skilled in leading data analytics, model validation, model governance or quantitative auditing or  equivalent skills and experience.    
  • Leadership skills to implement a new organizational structure, systems, and standards.