Compliance Analyst

Are you an analytical detail-oriented professional with an interest in insurance regulation and consumer protection Are you looking to join the Alberta Public Service in a role where you can support the fair treatment of insurance consumers while building your regulatory expertise We are looking for a self-motivated individual who thrives in a busy fast-paced environment. Come grow your career with us!

Reporting to the Manager Compliance Insurance Regulation and Market Conduct Branch you will exercise delegated examiner authority under the Insurance Act and contribute to the administration and enforcement of insurance legislation in Alberta. You will support regulatory oversight of insurer market conduct by conducting compliance operational and analytical activities that ensure adherence to legislative requirements and promote the fair treatment of consumers including supporting stakeholder understanding of the Care First automobile insurance model.

As a Compliance Analyst you will be responsible for fulfilling Branch responsibilities including but not limited to:

• Providing accurate timely and consistent regulatory guidance to consumers insurers intermediaries and government stakeholders including support on inquiries related to the Care First automobile insurance model and interpreting and communicating requirements under the Insurance Act and related policies.
• Assessing inquiries to determine the appropriate response escalation or referral and documenting interactions and decisions in accordance with established procedures.
• Administering regulatory processes and applications including Medical Assessor requests Insurance Council appeals umpire selections and automobile wording submissions.
• Maintaining accurate and up-to-date regulatory records databases and public registry information and generating and validating operational and compliance reports.
• Reviewing and analyzing potential compliance issues and market conduct concerns and assessing risks related to insurer conduct and consumer treatment including within evolving frameworks such as Care First.
• Assisting Compliance Officers with examinations and investigations; collecting validating and analyzing data; and preparing summaries and reports outlining findings and recommendations.
• Contributing to policy development legislative or regulatory changes and consumer-facing guidance and communication materials and supporting responses to Action Requests and Ministerial correspondence.
• Supporting the integrity of regulatory systems and data including testing system functionality and business rules (e.g. IRIS) and providing financial administration coordination and backup support across IRMC and other FSRP branches as required.

Please click on this link to view the job description for this position.

Competencies are behaviors that are essential to reach our goals in serving Albertans. We encourage you to have an in depth understanding of the competencies that are required forthis opportunity and to be prepared to demonstrate them during the recruitment process.

In this role you will contribute to our team by demonstrating aspects of all the competencies with particular focus on the following:

• Creative Problem Solving Is open to new ideas and breaks problems down to identify solutions; constructively questions and challenges the norm; remains open to other perspectives; and contributes ideas for improving processes adapting existing practices to address compliance and market conduct issues.
• Agility Works effectively in a changing regulatory environment and takes initiative to improve; anticipates and adjusts to change; remains calm and composed under pressure and competing priorities; and works creatively within legislative and policy guidelines.
• Systems Thinking Considers interrelationships and emerging trends to attain goals; seeks insight on the implications of different options; analyzes long-term outcomes with a focus on organizational goals and values; and identifies unintended consequences of regulatory decisions.
• Build Collaborative Environments Works in an open and honest manner with colleagues and stakeholders; creates opportunities to share information; actively listens to and respects differing perspectives; recognizes and discusses conflict openly; and builds effective working relationships across the Branch Ministry and external partners.

This link will assist you with understanding competencies.

University graduation in business or a related field; no experience required or equivalent as described below.

Directly related education or experience may be considered on the basis of 1 year of education for 1 year of experience or 1 year of experience for 1 year of education.

For example: A two-year diploma in business or a related field combined with 2 years of related work experience. Related work experience includes insurance regulation compliance financial services or the insurance industry.

Preference will be given to those with related education.

The position requires a two-year diploma in business or a related field combined with related work experience. Related work experience includes insurance regulation compliance financial services or the insurance industry.

The following would be considered assets:

• Knowledge of and experience in the insurance industry including property and casualty and/or life insurance or experience with an insurance regulator.
• A professional insurance designation such as Chartered Insurance Professional (CIP) Canadian Risk Management (CRM) or Chartered Life Underwriter (CLU) or other related insurance education.
• Working knowledge of the Care First automobile insurance framework and associated consumer processes and familiarity with Alberta standard automobile policy forms and related insurance products.
• Understanding of privacy legislation (ATIA PIPA PIPEDA HIA).
• Knowledge of insurance regulatory frameworks and compliance processes.

A cover letter outlining how your experience relates to the qualifications and assets listed above is required and will help us to better understand your fit for this role.

Minimum recruitment standards outline the minimum education and experience required for appointment to a job classification.

This is a Permanent full-time position working 36.25 hours per week Monday to Friday (In-office). Location is in the Terrace BuildingStreet NW in downtown Edmonton

Candidates may be asked to participate in a written assessment.

Candidates with lesser qualifications may be considered at a lower classification and salary. This competition may be used to fill current and future vacancies at equal or lesser classification across the Government of Alberta.

Final candidates will be required to undergo a security screening..

Applicants being considered for this position will be required to complete a Level 1 Security screening as part of the pre-employment checks for this position.

Any costs associated with obtaining the required documents/checks as noted or interview travel expenses will be the responsibility of the candidate. Out-of-province applicants can obtain the required documents/checks from the province they currently reside in.

What the Government of Alberta has to offer

• Working for the Alberta Public Service
• Public Service Pension Plan (PSPP)
• Alberta Public Service Benefit Information
• Professional learning and development
• Research Alberta Public Service Careers tool
• Positive workplace culture and work-life balance.