Executive Director - Insurance Councils of Saskatchewan

Insurance Councils of Saskatchewan. Regina ,SK.
Closing Date January 24,2022 Location Regina, SK Work Type -
Salary Range - Experience Level  - Job ID  
Job Description

About The Insurance Councils of Saskatchewan

The Insurance Councils of Saskatchewan (“ICS”) operate under an authority delegated by the Superintendent of Insurance to license and regulate insurance agents, brokers, adjusters, and agencies in the Province of Saskatchewan. The Insurance Councils of Saskatchewan were formed on January 1, 1986, to regulate insurance intermediaries in the province of Saskatchewan. Prior to 1986, that function was performed by the government of Saskatchewan. Councils are created by statute in the provincial Insurance Act (the Act) as not-for-profit entities. Councils are self-funded, with approximately 95% of revenues generated by license fees. Through its Bylaws, the organization sets educational and conduct standards for entities that sell Life, Accident & Sickness, or Property & Casualty insurance or adjust property & casualty claims in the province. Councils also act as a disciplinary body when a licensee violates any provision of the Bylaws or the Act. There are three separate Councils that make up the
Insurance Councils of Saskatchewan. These are the General Insurance Council, the Life Insurance Council, and the Insurance Council of Saskatchewan. The General and Life councils regulate those specific sectors of the insurance industry. The Insurance Council of Saskatchewan is responsible for overseeing the day-to-day operations of the Councils.

Their current vision is to have ICS recognized as a credible and influential thought leader in insurance regulation within Canada. Within the last few years, ICS has fully operationalized the new Insurance Act, which was proclaimed January 1, 2020, and enhanced public protection with a more proactive and strategic approach in an evolving industry. Through national collaborative initiatives, understanding of industry trends, and the calculated adoption of best practices, ICS have expanded their mandate for more effective regulation in Saskatchewan.

The Insurance Councils of Saskatchewan are committed to a fair, ethical, and professional industry that provides consumers with responsible, trustworthy advice and service regarding insurance and related financial matters.

ICS’s role:

• Establish standards of conduct, competence and proficiency, and standards of training and education.
• Establish and enforce ethical, operational, and trade practices for applicants, licensees, and persons who are required to be licensees.
• Provide consumers with a facility to lodge complaints regarding the conduct of agents, brokers, adjusters, and agencies.
• Investigate complaints and adjudicate or mediate disputes respecting alleged non-compliance with the Act.
• If warranted, Council can impose disciplinary penalties against licensees in the province.
• Carry out audits, examinations, inspections, and investigations of licensees and persons who are required to be licensees.
• Initiate and engage in programs of consumer protection

The opportunity 
Reporting to the Board of Directors, the Executive Director will be responsible for developing and enabling the achievement of ICS’s vision, strategy, and corporate objectives. 

Following the retirement of their current Executive Director, an exciting opportunity exists for a collaborative and engaging leader to continue in their successes to date and keep ICS moving in the right direction. The new Executive Director will build on existing relationships and engage their team and board members to execute the organizational strategy. They have a unique opportunity to ensure, as part of this next chapter, that the results of ICS’s objectives will allow for more effective regulation throughout the province while ensuring consumers continue to receive responsible, trustworthy advice and services.

The Executive Director is not only the leader of the organization but also an advocate for Saskatchewan throughout the country, thus you will be an engaging leader and an excellent communicator, with a proven track record of excellence and success. The ideal candidate will have a sound knowledge of the regulatory environment and have a demonstrated history of leadership, problem-solving, and delivering results. You need to have the ability to build partnerships and relationships at both a local and a national level to collaborate on cross-jurisdictional initiatives. ICS is looking for a dynamic leader that can continue to provide guidance and oversight to the team while working to execute the strategy and objectives of the organization. The successful candidate will be a confident and engaging speaker that can successfully represent ICS to industry stakeholders and regulatory partners. 

We are seeking candidates who are inspired by the opportunity to continue to build on the success of a highly respected organization and who thrive on the challenges and opportunities of an organization that is committed to promoting excellence within its respective space. They will be comfortable managing different priorities concurrently and moving agendas forward in a multi-stakeholder environment. The successful candidate will be a strategic thinker with natural leadership skills to mentor and coach a team. You will possess strong relationship-building qualities and have been known for your ability to develop credibility, trust, and effective working relationships with executive boards, employees, and external stakeholders.

Key Accountabilities
The Executive Director provides the day-to-day operational leadership and direction in executing ICS’s strategic, business, and operational objectives through the implementation of its governance policy and the achievement of goals that support the organization’s strategic direction. This position is also responsible for ensuring that the organization possesses the structure and resources to achieve those plans.
As the leader of ICS, you will need strong communication skills and the ability to build trusted relationships with internal and external stakeholders to advance collaborative partnerships that create
beneficial outcomes for all stakeholders. This individual will ensure that systems are in place and functioning to support ICS and the board, including, but not limited to, business and operational 
procedure manuals, focusing on financial management, people management, IT, and legal and regulatory responsibilities. The Executive Director needs to understand the importance of a strategic approach to relationship management, and what ICS requires in order to maintain professional and collaborative relationships with Council members, national regulatory partners, government officials, licensees, and industry stakeholders.

The following are the main areas of focus for the Executive Director:

Board Governance

• Carry out the policies established by the Council pertaining to the management and administration of the affairs of the Council.
• Supporting the Board of Directors and Councils to fulfill their oversight and fiscal responsibilities.
• Ensuring all operations and activities of the organization are conducted in accordance with the values and intent of enabling laws, regulations, plans, policies, and sound business practices.
• Ensuring that appropriate internal controls are in place (e.g., technology, processes, policies, procedures) to safeguard and optimize assets.
• Supporting the Board of Directors in developing a vision and strategic priorities to guide the organization.
• Supporting the Board and its Committees with timely and key information and access to management.
• Drafting policies and operating plans that reflect Board directives, for Board approval.
• Advancing the governance practices, onboarding, education, and communication mechanisms of the ICS Board and Councils.
• Collaborating with the Board to offer education, communication, and training on relevant topics.

Leadership and People Management
• Building a high-performing workforce by actively leading human resource activities.
• Creating and nurturing a culture of leadership and accountability to effectively deliver on strategic and corporate strategies, ensuring integration with and management of employee performance development and career development plans.
• Continuing to build upon the positive, family-oriented, and collaborative culture of ICS.
• Driving performance through team members and is committed to leadership development across the company, supporting employees and workforce readiness through mentoring, training and developmental opportunities.
• Setting clear, result-orientated goals with realistic and measurable outcomes, and supports goal achievement.
• Coaching and monitoring performance and providing regular, appropriate, and constructive feedback.
• Providing general supervision and management of the day-to-day affairs of the organization within the guidelines established by the Board, consistent with decisions requiring prior approval of the Board, and the Board's expectations of the Executive Director.

Financial Management
• Maintaining all administrative and financial systems of the organization, ensuring required reports and documentation are accurate and completed for required deadlines
• Preparing, reviewing, managing, and/or approving operational budgets.
• Preparing monthly financial reports to the board
• Communicating and collaborating with the board to facilitate financial decision making
• Making decisions for departmental operations that are efficient, effective, and in alignment with strategic direction and priorities.
• Ensuring all department and program policies, procedures, and guidelines are in compliance with applicable federal and provincial legislation and regulations; implement and evaluate changes to legislation and regulations in the area of authority.
• Managing and mitigating risk in areas of authority.
• Establishing and maintaining an effective system of internal controls to support reliable financial reporting and compliance in accordance with applicable laws and regulations within the span of control and communicating the importance of internal controls to staff.
• Leading the annual audit process within ICS and liaising with external auditors.
• Creating or updating organizational financial policies and procedures as required.

• Participating collaboratively by providing insight and feedback on the short- and long-term strategic direction of ICS and recommending adjustments based on the current environment.
• Working collaboratively to understand and build alignment with divisional short- and long-term tactics to achieve corporate strategies. • Setting specific organizational goals and outcomes under the direction of the Board of Directors.
• Identifying the required resources to achieve goals.
• Developing creative and strategic solutions to complex problems.
• Ensuring ICS is well-positioned to meet future challenges.
• Being responsible for the enhancement of ICS’s image by being active and visible in the community and by working closely with key external stakeholders.

Business and Operations Management
• Overseeing the efficient and effective day-to-day operation of the organization.
• Overseeing the affairs of the Councils.
• Managing licensing activities for the Market Practice Committee of each council.
• Communicating and collaborating with the board to facilitate business management decisions.
• Overseeing the Licensing and Compliance administrative process management.
• Managing the resolutions of ad-hoc issues.
• Managing special projects as necessary and as identified by the board.

Industry Oversight and National Partnering
• Ensuring programs and policies are in alignment with corporate, strategic, and divisional strategies. 
• Staying current with industry trends and changes, and how partners and similar organizations are functioning to allow insight and knowledge and support the delivery of operational initiatives. 

Education, Experience, and Competencies
The successful candidate will possess:
• A minimum of 10 years of experience within the Regulatory, Insurance or Financial Services Industry
• Knowledge and experience in interpreting and applying administrative law, with specific emphasis on the disciplinary process.
• A four-year degree from an accredited post-secondary educational institution in a relevant field of study, or a combination of education and professional qualifications that are equivalent
• Experience and skill in working with a Board of Directors.
• Demonstrated knowledge of strategy development.
• Demonstrated sound professional and business ethics.
• Effective team-building skills, incorporating cooperation, collaboration, and partnerships.
• Demonstrated experience managing the financial operations of an organization.
• Excellent communication skills with the ability to present their thoughts and information both written and orally.
• Leadership skills to foster an environment that motivates and encourages employees to develop and perform to achieve organizational objectives.
• Thorough understanding of the process of developing, interpreting, and applying legislation.
• The ability to have effective internal working relationships and to establish strategic external partnerships with customers, business partners, associations, and others.

As well as be able to:
• Create a positive and inspiring environment that rewards hard work and dedication.
• Influence and guide others to accomplish goals and objectives.
• Promote open, honest, and ongoing sharing of ideas and information.
• Provide meaningful information by considering the diverse information needs of internal and external stakeholders.
• Demonstrate a total systems and strategic perspective.
• Develop sound solutions by identifying and analyzing situations and/or problems and addressing key underlying issues.
• Manage a variety of personalities.

This role will appeal to a collaborative, vibrant, and passionate leader that can successfully drive ICS forward and ensure that the organization achieves its goals.

Candidates, inspired by the opportunities and challenges of leading a well-established organization, who have the leadership ability to create an environment conducive to service excellence and delivering results and have a demonstrated history of consistently seeking to maximize opportunities will want to explore this exciting opportunity.

How to Apply

We ask that individuals with an interest in further exploring this opportunity contact:

AJ Beaudry

Phone : 250.585.6306

Email : [email protected]

Or visit: www.clearchoicehr.ca

We thank all interested applicants, however; only those selected to move forward will be contacted.

For more information on Saskatchewan and Regina please visit: