Managing Director, Regulatory Enablement

The Organization

Established in 1974 as the Credit Union Stabilization Corporation, the Credit Union Deposit Guarantee Corporation (CUDGC) has helped protect the financial security of Alberta credit union members for more than 50 years. Originally created to insure 100% of deposits, CUDGC has continued to evolve alongside the sector, expanding into credit adjudication, prudential regulation, stress testing and modern regulatory oversight. Today, it operates as a trusted public agency under the authority of the Alberta Credit Union Act.

As deposit guarantor, CUDGC guarantees 100% of eligible deposits held with Alberta credit unions. The Deposit Guarantee Fund forms part of a three-level protection system supported by credit union capital and, ultimately, the Government of Alberta. The Fund is funded, in part, by Alberta credit unions and invested in high-quality, liquid investments.

CUDGC also regulates Alberta’s credit unions and Alberta Central through a risk-based approach designed to support system safety and soundness and protect depositors. Its oversight framework draws on national and international leading practices tailored for the Alberta context and includes standards, guidelines and ongoing assessment of capital, liquidity, solvency, governance, enterprise risk management, internal controls and compliance with the Alberta Credit Union Act.

For more information about CUDGC, please visit their website.

The Opportunity

• Department: Supervision & Regulation
• Reports to: Executive/C-Suite
• Direct Reports: Four Direct Reports
• Location: Edmonton, AB

Mandate

Reporting to an Executive, the Managing Director, Regulatory Enablement leads the delivery and refinement of CUDGC’s prudential regulatory policies and approaches, standards and guidance guidelines within the regulatory strategy and priorities approved by the Executive. The role translates legislation, emerging risks and leading practices into practical recommendations and regulatory approaches that support effective oversight of Alberta credit unions.

Regulatory Enablement develops and maintains the policies, standards, guidance guidelines and analytical tools used by CUDGC’s supervision teams. The Managing Director identifies gaps, develops options and recommends material framework changes to the Executive for approval.

The successful candidate will also strengthen collaboration across CUDGC’s regulatory functions and increase the visibility and influence of the Regulatory Enablement team. They will be a credible ambassador with regulated entities and other interest holders, able to communicate complex regulatory issues at the appropriate level for professionals, executives and Boards. CUDGC is seeking a leader confident enough to challenge assumptions, including those of senior executives, while remaining pragmatic, constructive and focused on the public interest.

Key Accountabilities

Regulatory Policy and Framework Development

• Lead the development, implementation and periodic refinement of prudential standards and guidance guidelines within approved regulatory direction.
• Identify policy or framework gaps, assess options and recommend material changes to the Executive.
• Accountable for the quality, consistency, timeliness and defensibility of Regulatory Enablement’s policy, standards, guidance guidelines and risk-analysis outputs.
• Coordinate implementation with various internal and external stakeholders, supervision, and other regulatory functions and escalate material interpretation, policy or implementation issues to the Executive.
• Support communication of approved framework changes to internal and external stakeholders.

Legislative Interpretation and Risk

• Lead the analysis and interpretation of legislative and regulatory changes through a safety and soundness lens.
• Contribute analysis and briefing materials for the Executive Leadership Team (ELT) and the Board, presenting directly when delegated.
• Escalate systemic, precedent-setting or high-impact matters for Executive or ELT decision.
• Monitor broader financial-sector trends and global supervisory practices that may affect Alberta’s credit union system.
• Review and challenge risk assessments, risk profiles, action plans and regulatory recommendations.
• Apply strong financial acumen to critically assess the financial condition and risk profile of regulated institutions.
• Support the development of risk tolerances, standards, guidance and supervisory approaches.

Leadership and Organizational Integration

• Lead, coach and develop the Regulatory Enablement team, including directors and specialized professionals.
• Build a culture of sound judgement, accountability, independent thinking and public-interest decision-making.
• Encourage diverse perspectives and constructive challenge within the team.
• Strengthen collaboration with Supervision and Credit Risk Monitoring teams.
• Coordinate priorities, resources and deliverables across the function.
• Reduce functional silos and reinforce shared accountability for regulatory outcomes.
• Empower team members to exercise judgement and contribute confidently at the appropriate level.

Stakeholder Engagement and Executive Advice

• Build effective working relationships with regulated entities, government, advisors, auditors and other interest holders within an approved engagement mandate.
• Explain approved regulatory expectations and gather stakeholder input to inform policy recommendations.
• Represent Regulatory Enablement on delegated matters and support the Executive in Board, government and highly sensitive external engagements.
• Prepare clear analysis, options, recommendations and draft messaging for Executive review.
• Provide briefings to ELT, the Board or regulated entities when delegated.
• Escalate decisions or communications that fall outside approved policy, risk tolerances or delegated authority.

First-Year Deliverables / Measures of Success

Success in the first year will be determined by the candidate’s ability to:

• Establish credibility with the Executive, Regulatory Enablement and Supervision teams, other leaders and regulated entities.
• Strengthen collaboration between Regulatory Enablement and Supervision, fostering a cohesive, aligned, and collaborative approach across the organization.
• Build a cohesive team environment that encourages diverse thinking, independent judgement and constructive challenge.
• Implement a regulatory stakeholder risk management and engagement plan aligned with priorities established and approved by the Executive.
• Identify/design opportunities for general process improvements and efficiencies to improve the quality, consistency and responsiveness of Regulatory Enablement’s advice and deliverables.
• Resolve matters within delegated authority and escalate systemic or precedent-setting issues promptly.
• Develop a strong understanding of CUDGC’s legislative and regulatory environment and effectively translate emerging changes into regulatory approaches.
• Increase the visibility and confidence of the team in communicating regulatory matters internally and externally.
• Demonstrate agility and sound judgement when new or high-impact issues arise with little notice.

Candidate Profile

The successful candidate will have the following:

Education:

• A bachelor’s degree in finance, economics, risk management, public policy or a related discipline.
• A graduate degree in a relevant field is considered an asset.
• A CPA, CFA, FRM, legal designation or another relevant professional credential is considered an asset.

Experience:

• Minimum 10 years of progressive professional experience within financial services, banking, regulation, risk, public policy or a related environment.
• Minimum five years of leadership experience.
• Strong understanding of financial institution operations and the ability to critically assess financial statements, institutional performance and risk.
• Experience interpreting legislation or regulatory requirements and translating them into policy, frameworks, standards or operational approaches.
• Experience leading highly skilled professionals and developing independent judgement and accountability within a team.
• Demonstrated success navigating complex interest-holder environments and communicating with senior executives, Boards and external organizations.
• Experience in a regulatory or prudential supervision environment is an asset; candidates with strong banking or financial services experience combined with policy or risk expertise will also be considered.
• International financial services, banking or regulatory exposure is highly valued.

What do you need to bring to this position:

• Strategic and Systems Awareness: Understand how legislation, policy, institutional behaviour, and risk interact and apply that understanding to functional recommendations.
• Judgement and Escalation: Make sound decisions within delegated authority and recognize when matters require Executive or ELT direction.
• Constructive Advice: Test assumptions and provide evidence-based recommendations while respecting approved accountabilities and decision rights.
• Financial and Regulatory Acumen: Bring sufficient financial depth to critically assess institutions while understanding the purpose and practical application of regulation.
• Communication and Influence: Make complex issues understandable and support effective decision-making by senior leaders, the Board and regulated entities.
• Leadership and Empowerment: Develop confident professionals who exercise judgement, take ownership and contribute beyond their technical area.
• Relationship Management: Build credibility and trust while maintaining the independence required of a regulator.
• Agility and Composure: Mobilize quickly when circumstances change and remain grounded in high-pressure situations.
• Integrity and Public-Interest Orientation: Demonstrate strong ethics, accountability and an understanding of CUDGC’s responsibility to Alberta depositors.

Commitment to Inclusion and Belonging

The Credit Union Deposit Guarantee Corporation is committed to equity, diversity and inclusion and recognizes that a diverse team benefits and is essential to service excellence. In accordance with provincial legislation, accommodation will be provided by Mullen and CUDGC throughout the recruitment, selection and/or assessment process, upon request, to applicants with disabilities. All qualified candidates are encouraged to apply.

Application Instructions

If this opportunity excites you, please send an application package, including your resume and cover letter, to [email protected]. In the subject line of your email, please include the organization’s name and the position title.