Chief Executive Officer

3 months ago

Toronto, Canada Financial Services Regulatory Authority of Ontario (FSRA) Full time

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:
PURPOSE OF POSITION
The Chief Executive Officer is accountable to the Board of Directors for the management and administration of the Financial Services Regulatory Authority (“Authority”), the supervision of Authority employees, and carrying out the roles and responsibilities assigned to the Chief Executive Officer (“CEO”) or the Authority by the Board of Directors (“Board”), the FSRA Act and the Related Statutes, regulations and rules thereunder, the Memorandum of Understanding between the Minister of Finance and the Authority, and Applicable Directives. The CEO works under the supervision of the Board when managing the Authority's affairs, and reporting the Authority's performance results to the Board.

KEY RESPONSIBILITIES

Without limiting the generality of the responsibility of the CEO as described above, the CEO shall:
a) Strategic Leadership- Develop a strategic plan for FSRA with the Board including its mission, vision, values, performance objectives and strategic priorities- Formulate, and upon Board approval, and Minister of Finance approval, implement an annual business plan and budget that will achieve FSRA’s mission, vision, values, performance objectives and strategic priorities, thereby maximizing both the Authority’s value and the long-term success of FSRA- Review and report regularly (at least quarterly) to the Board concerning the Authority’s progress towards its strategic plan and all material deviations from it, including updating and making changes as required, and initiating courses of action for improvement- Keep the Board fully informed of all significant operational, financial, and other matters relevant to the FSRA, including legal, regulatory, human resources and governmental policy developments

b) Program Responsibilities- Assess and approve the strategic plan, performance objectives, strategic priorities, annual business plans and operating budgets of the regulated financial service business units reporting to the CEO- Regularly assess stakeholder satisfaction and needs of the Authority as a whole c) Financial Leadership in conjunction with the EVP, Corporate Services- Authorize the commitment of funds to capital projects included in the annual FSRA budget approved by the Board or within the CEO’s spending authority levels- Authorize the commitment of Authority level resources, including contracts, transactions and arrangements, to pursue the approved strategic plan, performance objectives, strategic priorities and annual business plan of the Authority, provided that major commitments, exposures, and risks are reported to the Board on a timely basis- Take reasonable steps to ensure that the Authority’s assets and resources are adequately safeguarded and optimized in the best interests of all FSRA stakeholders

d) Administrative Leadership- Develop and maintain a sound, effective organizational structure with a culture of service excellence which respects diversity, equity and inclusivity and engenders a healthy, respectful, rewarding and productive working environment.- Make certain that that the operations of FSRA are consistent with its legislative mandate under the Financial Services Regulatory Authority Act and the legislation governing its regulated sectors.- As an agency of the Ontario government, ensure that the Authority conducts itself according to the management principles and applicable directives of the government. These principles include ethical behaviour; prudent, effective and lawful use of public resources; fairness; high quality service to the public; and openness and transparency to the extent allowed under the law.- Maintain FSRA as a modern, innovative, forward-looking, flexible, transparent, technology-enabled, and collaborative principles-based regulator with strong supervision capability which is both effective and efficient in responding to the dynamic pace of change in the marketplace- Delegate powers to the Executive Leadership Team (“ELT”) as appropriate. Mainta

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