Relationship Manager

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, and a comprehensive and competitive benefits plan. We prioritize 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

Accountable for managing a portfolio of provincially regulated financial institutions and entities (i.e., property and casualty insurance companies, life insurance companies and reciprocals), performing risk and controls assessments, identifying issues, and taking action through remediation or intervention in support of overall Insurance Prudential Supervision accountabilities and strategies.

KEY RESPONSIBILITIES

• Prudential supervision and relationship management of a portfolio of provincially incorporated insurance companies, reciprocal insurance exchanges ("insurers") and related financial institutions and entities.

• As the Relationship Manager and lead supervisor for an assigned portfolio of insurance companies and entities, ensures the consistent messaging of FSRA's regulatory requirements and supervisory expectations.

• Leads or participates in identifying and assessing risks while considering the size and complexity of the institutions and entities to determine their overall risk profiles.

• Participates in implementing, enhancing, and assisting the Practices team in maintaining the Risk Based Supervisory Framework for Insurers (RBSF-I).

• Works with the team to implement the insurance early warning system (EWS) used to identify potential vulnerabilities and weaknesses in regulated insurers.

• Assists in or leads intervention to rehabilitate insurers.

• Assists in the development and implementation of an IT solution for insurer data collection and analytics.  

• Develops, manages, and maintains relationships with Boards and senior management of assigned insurers to ensure proactive identification of potential issues (e.g., profitability/pricing, liquidity, reserving, capital adequacy, financial and non-financial risks, etc.).

• Conducts monitoring, market intelligence gathering, and analysis of business practices and operations of regulated insurers to identify potential areas of risk and non-compliance with legislation (the Act) and regulations.

• Leads the assessment of higher risk areas or practices identified through ongoing monitoring.

• Works with the insurers to develop and enforce remediation or action plans resulting from assessment or review recommendations and requirements.

• Develops and maintains key stakeholder relationships across the sector and with other regulators.

• Supports critical change and a new collaborative, forward thinking culture within the unit, and works with others to achieve this across the department.

• Participates on projects within the department to represent the unit's interests in program or service decision making.

• Meets regularly with senior leadership and Boards of FIs to stay abreast of business and financial performance and to update the institutions' risk profile.

• Works in collaboration with colleagues on function priorities for FSRA.

QUALIFICATIONS

Education and Experience

• Degree in finance, commerce, business, law, accounting, or related field; graduate degree is preferred.

• 7 – 10 years' experience in financial services including financial analysis, preferably with 3-5 years' experience in relationship management roles.

• Relevant industry experience in property and casualty insurance and/or life insurance and/or banking environment; experience in financial regulation is preferred.

• Experience with engaging stakeholders and developing relationships.

• Experience with resolving complex related issues.

• CIP or CRM Designation

.

Knowledge and Skills

• Experience with developing and managing complex relationships with stakeholders.

• Experience with analyzing, developing, or implementing financial institution contingency plans, disaster recovery plans, business continuity plans, and recovery plans.

• Experience with assessments of the operations and financial condition of regulated entities (e.g., insurance companies, credit unions, banks,).

• Knowledge of capital, liquidity, stress testing.

• Knowledge of Three Lines of Defense, controls and oversight, and corporate governance.

• Demonstrated risk and controls analysis skills.

• Demonstrated relationship management skills.

*Please note that this position will close at 11:59PM on November 28, 2025*

Job Posting End Date:

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

Employment Type:

Scheduled Weekly Hours:

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