What are the responsibilities and job description for the Senior Policy Analyst position at Insurance Council of BC?
About the Insurance Council
The Insurance Council of British Columbia is the regulatory organization that licenses and regulates the activities of over 50,000 life and general insurance agents, general insurance salespersons, insurance adjusters, and restricted travel insurance agents in British Columbia.
Why Work for the Insurance Council?
Work with a great team of people in a rewarding career that makes a difference. We’re in a downtown location with plenty of amenities nearby. The Insurance Council has a friendly and collaborative environment with a team who’s committed to protecting the public.
- We offer a comprehensive health and dental plan.
- Work-life balance.
- This position is mostly remote work enabled. The incumbent would be required to come into the office as needed.
- Professional development.
- Equitable employment opportunities
The Opportunity
The primary focus of this role is to assist with the development of guidelines, policies and other research that helps licensees conduct their business in accordance with the Financial Institutions Act, Council Rules and Council’s Code of Conduct. In addition, the Senior Policy Analyst plays an important role in identifying gaps and required policies to align with changes in regulation or industry practice.
This Is an 18 month fixed term contract role.
Duties and Responsibilities
- Research and write guidelines, policies and other related documents
- Play a key role in the development of new and updated policies to support practices and regulatory compliance that fosters professionalism, competency and conduct
- Review current policies against regulatory requirements to ensure consistency and identify gaps
- Provide advice on appropriate controls to support policies and evidence of compliance
- Participate in projects where the outcome may impact policies or guidelines
- Prepare briefing materials such as briefing notes, presentations and reports
- Develop sound data analysis
- Maintain excellent and up-to-date knowledge of the Financial Institutions Act, Council’s Code of Conduct, the Council Rules and other relevant legislation and industry practices
- Participate in determining an action plan in response to regulatory or industry change
- Undertake horizon scanning to identify upcoming developments within the insurance industry and working with the Manager of Policy to identify next steps
- Work with Practice and Quality Assurance department to identify gaps and overlapping work
- Work with Professional Conduct department to identify trends in complaints and investigations
- Work with Licensing department to identify policy gaps and other relevant research
- Work and liaise with other departments as required (e.g., Governance and Stakeholder Engagement, Finance, HR etc.)
- Identify emerging industry trends and assist in determining an appropriate course of action
- Assist management, as required
- Handle other duties as assigned
Qualifications and Experience
- Minimum three years of experience in policy development, project and/or program management, and strategic planning.
- Minimum 3 years of experience in a policy analyst role.
- Experience in a regulatory or financial services role is an asset.
- Insurance industry experience is an asset.
- A post secondary degree is not a requirement but is considered an asset.
- Experience in the development of legislation and regulations is an asset.
- Experience in managing multi-stakeholder programs or initiatives.
- Experience in writing reports and briefings for senior executive or equivalent.
- Experience in conceptualizing, analyzing, investigating and reporting on a wide variety of issues.
- Experience in program design and evaluation.
- Experience interpreting, applying and advising on federal and provincial programs, government legislation, regulatory requirements and policies.
- Skill set in researching, writing, critical thinking and business acumen.
- Computer skills, having proficiency with the Microsoft Office suite, specifically with word processing and spreadsheet programs.
Salary Range: $95,655 - $137,504 per annum with a midpoint of $119,569 per annum.
Upon hire, new employees will be placed in a starting salary between the minimum and P50 (midpoint) of the salary range. The P50 of the range represents an employee that possesses full job knowledge, qualifications, and experience for the position.
Salary : $95,655 - $137,504
