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FSRA seeks Applications for new Credit Union Technical Advisory Committee

The Financial Services Regulatory Authority of Ontario (FSRA) is looking for members to join a new Technical Advisory Committee for Credit Union Data Strategy and Digital Transformation. This committee will play an important role in enhancing FSRA’s credit union regulatory efficiency and effectiveness through data, analytics, and digital technology.

Members will provide FSRA with advice and insight to deliver on the following outcomes:

  • Advice to inform FSRA’s data collection strategy and implementation plan to improve credit union regulation and the protection of member deposits; with a focus on regulatory reporting, risk data, and integrating data from the credit union system in an effective and efficient way;
  • Advice to inform the future state of data sharing in the credit union system
  • Advice on regulatory implications governing the use of data to protect the safety and soundness of the sector while promoting market innovation; and
  • Advice on the framework used to assess the adequacy of the Deposit Insurance Reserve Fund.

The committee will consist of 10 to 14 members. FSRA is seeking representation from, but not limited to, credit unions, data experts, and fintech/regtech companies.

FSRA is encouraging applications from individuals with executive level or extensive experience related to:

  • Data management, data governance, and predictive data analytics
  • Risk management and stress testing
  • Regulatory technology (financial services)

Members of this committee will participate in at minimum two meetings, scheduled to begin in May 2021 (with a potential meeting in late July).

Interested applicants can send submissions to Joanna Wearing at: Joanna.Wearing@fsrao.ca on or before March 26, 2021.   

For more information, please view the committee’s Terms of Reference.

FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca.

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