JOB PROFILE
Position #
TITLE: MANAGING DIRECTOR
CLASSIFICATION: BUSINESS LEADERSHIP
MINISTRY: FINANCE, FINANCIAL INSTITUTIONS COMMISSION
WORK UNIT: FINANCIAL INSTITUTIONS DIVISION
SUPERVISOR TITLE: EXECUTIVE DIRECTOR, SUPERVISION
SUPERVISOR POSITION #: 00008829
PROGRAM
The Financial Institutions Commission (“FICOM”) regulates the pension, financial services and real estate
industries in British Columbia. This regulation is designed to protect the public against the insolvency of
financial institutions, prevent improper market conduct in the financial services and real estate sectors,
provide deposit insurance for members of B.C. credit unions and ensure the solvency of pension funds.
The Financial Institutions Division (“FID”) is responsible for the administration and enforcement of the
following statutes:
 Credit Union Incorporation Act
 Financial Institutions Act
 Insurance Act
 Insurance (Captive Company) Act
 Insurance (Marine) Act
Under these statutes, FID administers a system of regulatory rules governing prudential and market conduct
of credit unions, trust companies, insurance companies, captive insurance companies and other entities.
These regulatory rules are designed to protect depositors against insolvency of a trust company or a credit
union, to safeguard consumers against the improper marketing of financial products and services, to identify
institutions with unsafe business practices or unsatisfactory financial trends, provide an operating framework
(supervision and administration) to deal with credit unions which are experiencing financial difficulties, and to,
in unsatisfactory situations, initiate remedial action before the possibility of a claim on the credit union
deposit insurance fund.
JOB OVERVIEW
The Managing Director manages the analysis and assessment of the risk profile and risk management practices
of a group of provincially regulated financial institutions, including the control of financial and human
resources. The Managing Director is designated the relationship manager for this group of institutions;
however, this role for specific institutions may be delegated.
The Managing Director is subject to a periodic job rotation to other business leadership positions in FID.
ACCOUNTABILITIES
Required:

Oversees the implementation of FID’s supervisory framework as related to the supervision of
designated provincially regulated institutions.

Determines the goals, objectives, and performance measures of the unit to achieve the defined
outcomes.
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
Oversees the supervision provincially regulated financial institutions in order to determine whether
they are in sound financial condition and complying with their governing law and supervisory
requirements;

Designs specific strategies and actions to ensure appropriate follow up on corrective actions and
determines next steps in cases on non-compliance with recommendations.

Supervises staff including assignment of work, development and evaluation of performance plans
(EPDP’s), approval of leave, coaching and mentoring, and performance management, including taking
disciplinary actions, when required.

Determines and identifies staffing resources, succession planning, and training needs for the team.

Oversees projects and assists subordinate employees to ensure completion.

Manages the financial resources for the unit.

Participates in establishing and updating risk assessment and documentation standards to ensure risk
profiles are accurate and up to date.

Ensures all procedures and guidelines as well as best practices are in use for the operation at all times;

Participates in building and/or leading the implementation of new and strategic business processes;

As the relationship manager for a group of institutions:
o maintains an up-to-date risk assessment of the designated institutions;
o Serves as the main point of contact for the designated institutions;
o Promptly advises institutions in the event there are material deficiencies and take, or require
management or boards to take necessary corrective measures expeditiously; and
o Prepares a supervisory strategy, for each the designated institutions, that includes examining and
monitoring its financial condition, the effectiveness of oversight and control functions and
following up on corrective actions; and

Networks with colleagues in other departments and with other regulators to gain information on
trends and emerging risks.
JOB REQUIREMENTS

Degree in a field related to business, finance, law or equivalent.

Demonstrated experience in risk management or regulatory work in the financial services sector.

Experience leading and resolving complex staff issues.

Knowledge of financial analysis techniques and business operational procedures.

Knowledge of insurance, banking or sound business practices as they apply to financial institutions.

At least ten years experience in the financial services industry.

Ability to write clear and concise documentation, reports, briefing notes, etc.

Understanding of computer based automated reporting and database management.
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
Successful completion of security screening requirements of the BC Public Service, which may include a
criminal records check, and/or Criminal Records Review Act check, and/or enhanced security screening
checks as required by the ministry.
BEHAVIOURAL COMPETENCIES
Improving Operations is the ability and motivation to apply one's knowledge and past experience for
improving upon current modes of operation within the Ministry. This behaviour ranges from adapting widely
used approaches to developing entirely new value-added solutions.
Creates Improvements:

Looks for opportunities to introduce new practices and procedures and overcome obstacles such as
constrained resources.

Impacts efficiency and effectiveness of operations by doing something new and different.

Implements creative solutions that have not been tried before to improve overall performance.
Leadership implies a desire to lead others, including diverse teams. Leadership is generally, but not always,
demonstrated from a position of formal authority. The "team" here should be understood broadly as any
group with which the person interacts regularly.
Positions Self as the Leader:

Ensures that others support leader's mission, goals, agenda, climate, tone, policy.

"Sets a good example" (e.g., models desired behaviour of the quality initiative).

Ensures that group tasks are completed. Is a credible leader.
Conceptual Thinking is the ability to identify patterns or connections between situations that are not
obviously related, and to identify key or underlying issues in complex situations. It includes using creative,
conceptual or inductive reasoning or thought processes that are not necessarily categorized by linear thinking.
Clarifies Complex Data or Situations

Makes complex ideas or situations clear, simple, and/or understandable.

Assembles ideas, issues, and observations into a clear and useful explanation.

Restates existing observations or knowledge in a clearer fashion.
Information Seeking is driven by an underlying curiosity and desire to know more about things, people or
issues. It implies going beyond the questions that are routing or required in the job. It includes “digging” or
pressing for exact information; resolution of discrepancies by asking a series of questions; or less-focused
environmental “scanning” for potential issues or miscellaneous information that may be of future use.
Does Research

Makes a systematic effort over a limited period of time to obtain needed data or feedback, or in-depth
investigation from unusual sources; or does formal research through newspapers, magazines,
computer search systems, or other resources.

This may include legal, financial and or/community research.
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Building Partnerships with Stakeholders is the ability to build long-term or on-going relationships with
stakeholders (e.g. someone who shares an interest in what you are doing). This type of relationship is often
quite deliberate and is typically focused on the way the relationship is conducted. Implicit in this competency
is demonstrating a respect for and stating positive expectations of the stakeholder.
Develops Partnerships

Develop partnerships and maintains strategic relationships and partnerships based on an in-depth
knowledge and understanding of each other's roles.
Commitment to Continuous Learning involves a commitment to think about the ongoing and evolving needs
of the organization and to learn how new and different solutions can be utilized to ensure success and move
the organization toward.
Keeps Current with Business/Organizational Changes


Stays current in a demanding and changing business/organizational environment with new
approaches, tools, methods and/or technologies that may impact the business.
Quickly assimilates and understands a constant stream of new information.
Results Orientation is a concern for surpassing a standard of excellence. The standard may be one’s own past
performance (striving for improvement); an objective measure (achievement orientation); challenging goals
that one has set; or even improving or surpassing what has already been done (continuous improvement).
Thus, a unique accomplishment also indicates a Results Orientation.
Service Orientation implies a desire to identify and serve customers/clients, who may include the public, coworkers, other branches/divisions, other ministries/agencies, other government organizations, and nongovernment organizations. It means focusing one’s efforts on discovering and meeting the needs of the
customer/client.
Teamwork and Co-operation is the ability to work co-operatively within diverse teams, work groups and
across the organization to achieve group and organizational goals. It includes the desire and ability to
understand and respond effectively to other people from diverse backgrounds with diverse views.
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