New Job Technical Consultant In Ontario

Technical Consultant
Technical Consultant

Technical Consultant

Company : Financial Services Regulatory Authority of Ontario (FSRA)
Salary : $80,595–$117,142 a year
Location : Ontario

Full Description

FSRA is guided by our vision of financial safety, fairness and choice for Ontarians. We achieve this by public service through dynamic, principles-based and outcomes-focused regulation. FSRA is committed to attracting and retaining exceptional people who bring energy, expertise, and experience. This includes providing a comprehensive total rewards package that looks beyond compensation and takes into consideration those things that are important to employees:
  • High employee engagement scores with opportunity for growth, learning and development
  • Flexibility with a hybrid work model in an office designed for collaboration
  • Competitive benefits plan, including a Defined Benefit pension plan
  • Promoting wellness and fostering an inclusive environment where all employees feel valued and respected
  • Culture of giving back to our communities through charitable activities
Job Description:
  • To provide senior technical consulting advice, guidance and training to Pension Plans Branch staff on the interpretation and application of the Pension Benefits Act, and Financial Services Commission of Ontario (FSCO) policies, procedures, and processes for the regulation of pension plans in Ontario.
  • To lead projects/teams, and provide technical direction related to the research and analysis of complex pension industry issues and any regulatory action resulting from compliance concerns; the audit and financial examination of pension plans; and the development and implementation of branch policies/procedures.
  • To provide technical expertise related to the management, negotiation and resolution of significant, complex and/or sensitive pension regulation issues and advise the Director, Deputy Superintendent and Superintendent on the resolution of complex pension issues. To represent FSCO and the Superintendent at meetings/conferences with pension plan sponsors, members, industry groups and other jurisdictions.
Key Responsibilities
1. Project Leadership
  • Provides project leadership for the development, implementation and evaluation of branch procedures, standards and controls to facilitate and ensure effective monitoring and assessment of provincial pension plans by branch staff in accordance with provisions of the Pension Benefits Act
  • Leads the review/analysis of the application of legislation and policies related to the regulation of pension plans in Ontario
2. Technical Advice/Consultation/Training
  • Provides technical advice, guidance, consultation and training to branch staff and FSCO/external clients on the interpretation and application of compliance of the PBA, regulations and branch policies
  • Advises branch staff engaged in the review and analysis of pension plans to ensure conformity to the legislation and quality/consistency of decisions
  • Provides technical advice related to the development of strategies and positions to address current/emerging issues of concern to the Superintendent/Deputy Superintendent and Director, Pension Plans on major pension matters
  • Provides technical expertise, advice and recommendations related to the development, implementation and evaluation of pension legislation and FSCO pension policies and guidelines for the regulation of pension plans registered with the Financial Services Commission of Ontario (FSCO)
  • Provides expert technical support for the development of a program of risk assessment and review for compliance concerning financial audits, examinations, pension plan administration, and asset management
  • Oversees and provides a senior advisory role related to the handling of specific complex, contentious, and/or sensitive industry/company pension plan cases
  • Provides technical leadership to Senior Pension Officers/Pension Officers related to the management of the case including the identification/analysis of issues, development of communication packages, liaison with MOF, and preparation of operational plans
  • Leads and/or participates as a senior technical advisor in negotiation meetings with pension plan administrators and/or their representatives to facilitate resolution of complex and/or serious issues of non-compliance including actuarial, financial, asset management, and plan administration compliance matters
  • Recommends regulatory action to the Director, Pension Plans Branch, the Deputy Superintendent and Superintendent, as required
  • Provides advice and consultation services to FSCO Directors, Deputy Superintendent, Pensions and the Superintendent related to contentious issues, pension policy and program delivery
3. Research/Analysis
  • Leads and conducts research and analysis projects to identify social, economic and administrative issues and general trends in the pension industry requiring policy change
  • Prepares research/analysis reports and issue papers
  • Develops communication materials for FSCO management and staff to inform them of developing trends and changes in practices in pensions, actuarial, financial reporting, asset management and related matters and on the status of any compliance efforts
4. Liaison
  • Liaises with representatives of accounting and other professional bodies (e.g. the Canadian Institute of Chartered Accountants and the Ontario Institute of Chartered Accountants) to obtain their views on the development of accounting and auditing policy revisions and regulatory reforms
  • Represents the Commission and the Superintendent at meetings with plan sponsors, members, industry groups and other jurisdictions to interpret or apply policy and legislation, discuss major pension plan issues, and exchange information on pension regulation policies, procedures and standards
  • Leads/participates in consultations and joint initiatives with other provincial and federal regulators and the Canadian Associations of Pension Supervisory Authorities related to the resolution of common regulatory issues, and the research of new regulatory developments
  • Leads and participates on special branch/FSCO committees and project teams as assigned by the Manager, Technical Consulting
  • Represents the Commission at conferences and seminars, and delivers speeches and presentations on pension regulation matters
5. Financial Audits/Examinations
  • Leads, conducts and/or advises on financial audits/examinations and provides in-depth knowledge of the Act for the identification of possible infractions of the Act
  • Prepares examination reports and letters to pension plan administrators outlining examination findings and compliance requirements
  • Prepares information required by the Superintendent under the Pension Benefits Act. Liaises with the Legal/Investigations Branch and other ministries as required in the course of an examination to exchange information
Knowledge / Skill
Knowledge of and skills in:
  • Pension Benefits Act and regulations and the pension legislation of the federal government and other provincial jurisdictions to provide senior level expertise on the interpretation and application of legislation/regulations
  • Pension plan administration/management principles and processes to provide technical advice and guidance on the examinations process in order to ensure effective review/analysis by branch staff on pension plan regulation compliance matters
  • Pension industry, administration of pension plans, and pension plan regulation issues and trends to identify issues requiring policy change and to provide
  • Project management to provide technical leadership to assigned program/policy development projects
Interpersonal / Influencing Skill
  • Advice and consultation to senior management regarding contentious issues, pension policy and program delivery, and interpretation and application
    of legislation/regulations
  • Negotiation to provide a senior advisory and negotiating role on complex pension administration cases
  • Verbal communication and presentation to provide information and advisory services to FSCO management and staff; lead projects; conduct staff
    training programs; and represent the Commission in consultations with pension industry representatives to advise on compliance requirements and
    resolve compliance issues
  • Written communication to prepare technical reports, briefing materials, project plans/reports, and policy recommendations
Analyzing / Problem Solving Skill
  • Identify issues/trends related to the regulation of the pension industry; and analyzes contentious/severe compliance issues
  • Provide consultation services to the Director, Pension Plans Branch and the Superintendent/Deputy Superintendent related to the management of
    significant pension regulation issues
  • Provide a senior advisory and negotiating role on complex pension administration cases
Decision Making / Responsibility
Responsible for:
  • Effective provision of technical leadership and expertise for the development/analysis of pension regulatory policies, procedures and the provision of technical direction, guidance and training to branch/FSCO staff and external contacts related to the interpretation and application of FSCO legislation/policies for the regulation of pension plans in Ontario
  • Effective resolution of significant/sensitive pension compliance case issues and the provision of advice to FSCO senior management
  • Accuracy and thoroughness of pension plan examinations/audits and action recommendations resulting from examinations Has latitude to:
  • Provide technical advice and guidance to division staff.
Decisions are guided by:
  • Pension Plans Act, government/FSCO legislation, policies, procedures and standards related to the regulation of pension plans in Ontario.
  • Accounting principles/practices; auditing methods/standards; and actuarial assessment processes to lead/conduct audits and examinations of pension
Contacts / Stakeholders
  • Ministry staff and management of the Pension Plans Branch and Pension Division to provide technical direction, advice and training on pension legislation and branch policies/procedures
  • Commission staff across FSCO to provide senior level expertise related to the interpretation and application of the Pension Benefits Act
  • Ministry colleagues in other ministries to exchange technical information and to participate on inter-ministry committees
  • Ministry experts such as pension plan administrators, actuarial consulting firms, insurance companies, auditors, trustees and custodians to follow-up on compliance issues identified through pension plan examinations/audits and to negotiate resolution
  • Representatives of public/private sector pension plans, pension associations, and other jurisdictions to provide technical speeches/presentations on pension regulation matters
Guidance / Supervision
  • Provides technical guidance to branch/FSCO staff and external contacts related to the interpretation and application of FSCO legislation/policies for the regulation of pension plans in Ontario
  • Provides technical leadership and knowledge for the development/analysis of pension regulatory policies and procedures
  • Provides project leadership to assigned project teams
Job Posting End Date:
Job postings close at 11:59pm on the date noted.
Compensation Grade:
Grade 07-AMAPCEO
Compensation Range:
    Bargaining Unit:
    Job Code:
    Job Code: 7A001
    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.