The Ontario Securities Commission (OSC) is the statutory body responsible for regulating Ontario’s capital markets in accordance with the mandate established in the provincial Securities Act and the Commodity Futures Act. The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. This mandate is performed through policy, operational, and enforcement activities. The OSC also contributes to national and global securities regulation development.
We offer a diverse, fair, and flexible work environment and take pride in our challenging and rewarding work.
The Trading and Markets division is currently seeking a Legal Counsel II to support their clearing and settlement oversight team, who will be primarily involved in the oversight of clearing agencies and trade repositories, making recommendations to how they comply with Ontario securities laws and applicable recognition or exemption orders. The Trading and Markets division is responsible for the oversight of market infrastructure entities (including marketplaces, self-regulatory organizations (SROs), and clearing agencies) as well as policy development relating to market structure, derivatives, dealer regulation and clearing and settlement.
Responsibilities:
Reporting to the Manager, the Legal Counsel II role will:
- Assess compliance of clearing agencies with Ontario securities laws and applicable recognition or exemption orders, make practical and constructive recommendations for improvement and assess appropriateness of corrective actions.
- Analyze and develop recommendations concerning rules and other applicable policy initiatives related to clearing agencies.
- Review and analyze periodic reporting from the clearing agencies, identifying potential regulatory issues and make recommendations for resolution.
- Monitor developments in clearing and the capital markets generally, identifying and assessing (i) the impact on clearing agencies (ii) any potential regulatory issues, making recommendations for resolution.
- A membership in good standing with the Law Society of Ontario.
- Undergraduate degree or equivalent.
Qualifications:
As the ideal candidate, you have:
- At least 5 years or equivalent of legal work experience post-call to bar preferably a portion related to Canadian capital markets, financial services and/or securities regulatory environment.
- Strong ability to conduct business-related research, analyze complex problems and develop creative recommendations that consider substantive or material issues and their impact to the capital market.
- General understanding of clearing agencies.
- Demonstrated ability to strategically assess the impact of various regulatory actions and balance regulatory objectives with practical business considerations.
- Demonstrated ability to organize and manage multiple projects to meet deadlines.
- Excellent written and verbal communication skills that demonstrate your ability to communicate clearly, concisely and persuasively.
- Very strong interpersonal and teamwork skills.
Grow your career and make a difference working at the OSC.
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We thank all applicants for their interest in the Ontario Securities Commission. We will contact those selected for an interview.
The OSC is committed to diversity and providing an inclusive workplace and providing accommodation in accordance with the Accessibility for Ontarians with Disabilities Act and the Human Rights Code. It is our priority to ensure employment opportunities are visible and barrier-free to all under-represented groups including but not limited to, Indigenous, Black and racialized groups, people with disabilities, women and people from the 2SLGBTQI+ community, to achieve an employee demographic profile reflective of the demographic profile of Ontarians.
The OSC is a proud partner with the following organizations: Ascend Canada, BlackNorth Initiative, Canadian Centre for Diversity and Inclusion, and Pride at Work Canada
If you require an accommodation during the recruitment process, please let us know by contacting our confidential inbox [email protected].
Visit Accessibility at the OSC to review the OSC’s policies on accessibility and accommodation in the workplace.
