Pensions Relationship Consultant

3 weeks ago

Toronto, Ontario, Canada Financial Services Regulatory Authority of Ontario Full time

Position Overview

This is a Fixed-Term role for a duration of up to 1 year.

Objective of the Role

Responsible for aiding in the execution of the new FSRA Pensions engagement strategy with pension plan administrators, ensuring that pension plans are effectively governed, risk management strategies are established, and the rights of plan beneficiaries are safeguarded.

Primary Responsibilities

  • Collaborates with the Director and team members to formulate, execute, and disseminate innovative concepts, methodologies, and best practices to enhance the relationship management strategy as part of the development and execution of structured, measured, and proportionate action plans, on-site evaluations, and regulatory responses in a risk-focused manner for plans that may present concerns regarding pension benefits and the rights of beneficiaries.
  • Facilitates discussions with subject matter experts across the Pensions Function (including Pension Operations, Investment Risk, Actuarial, Advisory Services) and other internal stakeholders (Legal, Finance) to gather and compile a variety of complex issues, findings, and associated documentation regarding at-risk and distressed plans.
  • Develops a comprehensive summary of findings and key issues, collaborating with the Director to create and implement strategies, plans, and approaches for engagements; ensures the preparation of documents for use in engagement meetings.
  • Organizes and participates in engagement activities, including targeted reviews, on-site evaluations, and teleconferences with actively monitored pension plans involving plan administrators, their advisors, and various stakeholders; prepares meeting summaries that require further action following engagements.
  • Provides expert knowledge related to the management, negotiation, and resolution of significant, complex, and/or sensitive pension regulatory issues as part of financial audits/examinations.
  • Offers technical expertise, advice, and recommendations concerning the development, implementation, and assessment of pension legislation, policies, and guidelines for the regulation of pension plans registered with FSRA.
  • Compiles reports detailing results, challenges, and recommendations as part of an ongoing feedback mechanism.

Required Qualifications

Education and Experience

  • A degree in business, finance, actuarial science, accounting, auditing, mathematics, or a related discipline, or a relevant professional designation.
  • ACIA (Associate, Canadian Institute of Actuaries), FCIA (Fellow, Canadian Institute of Actuaries), CFA, or CA designation would be advantageous.
  • A minimum of 5 to 7 years of experience in the pension-related industry, with a comprehensive understanding of the financial, actuarial, and operational aspects of pension plans to facilitate a holistic approach to issue analysis and management.
  • Experience in managing distressed pension plans or companies facing financial difficulties or similar recovery and restructuring scenarios.
  • Proven experience in interpreting and applying provincial and federal pension legislation.
  • General experience in risk management.

Knowledge and Skills

  • Ability to drive and advocate for change regarding new methodologies, best practices, systems, and standards for a proactive and collaborative approach to stakeholder engagement.
  • Exceptional verbal and written communication skills, with the ability to convey complex messages in a clear, comprehensive, authoritative, and persuasive manner.
  • Understanding of pension governance, risk management, regulatory review/audit principles, and methods related to pension plans, along with knowledge of corporate and pension plan insolvencies.
  • Familiarity with the design and management of pension plans and the investment of pension funds.
  • Proficiency in preparing technical reports, project plans, and policy recommendations.
  • Strong analytical, problem-solving, and negotiation skills to provide senior advisory and negotiating support on complex pension administration issues.

Compensation Information

Compensation Grade: Grade 06-AMAPCEO

Compensation Range: $74,877.00 - $110,338.00

Employment Type

Fixed Term (Fixed Term)

Scheduled Weekly Hours

36.25

FSRA is dedicated to promoting equity in employment. Our aim is to cultivate a diverse, inclusive workforce that mirrors 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

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