Interested in financial services regulation? The Financial Services Commission of Ontario (FSCO) established the Market Intelligence & Analysis Unit (MIAU) within the Licensing and Market Conduct Division in order to proactively identify and monitor existing and emerging trends and risks in the market place, as well as provide timely and relevant information to support evidence-based executive decision making.
MIAU is looking for Market Intelligence Consultants to perform market intelligence research and analysis projects/services for the identification and assessment of broad and complex emerging sector issues or trends, and to support evidence-based regulatory solutions, management information, legislation/policy development.
What can I expect to do in this role?
As a Market Intelligence Consultant, you will:
• lead/conduct projects for the research, environmental scanning, compilation, and analysis of market intelligence data and information of sectors, companies and intermediaries within five regulated financial service sectors in Ontario (i.e. insurance, including life & health, property & casualty, credit unions/caisses populaires, co-operatives, loan and trust corporations and mortgage brokering);
• analyze industry practices, business developments and consumer product developments in all regulated sectors, and new company/industry governance, policy, and business operations;
• identify emerging sector/industry issues/trends, and assess market conduct compliance regulatory risks and sector practices which have potential negative impact on the protection of the consumer public;
• research and analyze market conduct issues, FSCO complaints data, and compliance case statistics to identify broad trends which may impact public confidence in the regulated sectors, and prepare comprehensive reports;
• lead/conduct analysis of the impact of new, existing and proposed FSCO legislation, policies, business plans and programs from a sector perspective to inform and strengthen the evidence base for FSCO/division regulatory, legislative and policy development initiatives;
• lead/conduct consultations with a network of internal and external stakeholders to conduct environmental scans and engage in discussion on sector trends/issues that impact the effective regulation of the financial service industry in Ontario;
• act as a branch/FSCO subject matter expert on financial service sector operations/issues in Ontario, and provide technical expertise on industry intelligence and risk analysis;
• leads/conduct projects for the design, development, implementation and review of market intelligence research/analytical models, data bases and tools, and branch quality assurance and continuous improvement systems, processes and methods.
How do I qualify?
Experience and knowledge in the financial service sectors in Ontario:
• proven expert knowledge/experience related to business operations, product development, the distribution of financial products/services, or risk management primarily within the general or life and health insurance, mortgage broking or other FSCO regulated sectors.
Technical knowledge in market intelligence research and risk analysis:
• advanced knowledge and expertise related to the theory, principles, practices and methods of market intelligence gathering, research and analysis;
• knowledge and expertise in market conduct regulation, risk analysis and assessment, and risk-based regulatory techniques within the regulated financial services;
• demonstrate experience in at least one of the following areas: market intelligence, competitive intelligence, consulting, strategy, environmental scanning (or equivalent macro level experience);
• demonstrate experience related or equivalent to a risk function (i.e. risk management, risk assessment, or control function).
Knowledge of statistical research, quality assurance, and policy development principles and methods:
• proven superior knowledge of critical thinking, research, information gathering, statistics and analytical techniques and methods;
• superior research and investigative skills to assess complaint data and market key performance indicators;
• extensive knowledge of quality assurance principles, methods and processes;
• knowledge of policy development and assessment methods with experience in identifying/analyzing policy related impacts, issues and opportunities;
• experience in data management;
• demonstrate experience in at least one of the following areas: regulation, policy analysis or implementation, regulated financial services operations, , compliance, risk management, or internal audit.
Project management, analytical, and computer skills:
• excellent project management skills to lead and/or conduct multiple market intelligence projects;
• deep analytical and information-gathering skills to identify and analyze systemic market activity and practices across the regulated sectors and assess their implications/impact for the division, FSCO, sector industries and the consumer public;
• advanced computer skills and knowledge of word processing, spreadsheet, data base and specialized financial computer software;
• experience with processes: process design, review, implementation or re-engineering.
Relationship management, communication and consultation skills:
• excellent relationship management and consultation skills with proven ability to develop/facilitate relationships with a broad range of internal and external stakeholders;
• excellent oral communication skills with demonstrated experience in providing expert advisory services and briefings to staff, senior management, and the CEO/Superintendent;
• excellent written communication skills with proven experience in producing effective project presentations, reports, briefing materials, and policy/operational recommendations;
• prior experience in at least one of the following areas: relationship management, customer experience (internal or external), facilitation experience, policy development;
• comfort with change or change management experience;
• team player, collaborative, leadership capabilities.