Call for applicants: Membership on the Consumer Protection Advisory Committee (CPAC)

From: Financial Consumer Agency of Canada

The Commissioner of the Financial Consumer Agency of Canada (FCAC), Lucie Tedesco, is looking for influential senior representatives and experts in the public, private and non-profit sectors who want to make a significant contribution to the financial protection of Canadians.

Background

FCAC was established in 2001 to consolidate and strengthen oversight of consumer protection measures in the federally regulated financial sector, and to expand consumer education. In 2010, amendments to legislation further expanded FCAC’s role to increase its ability to undertake research, field testing and stakeholder engagement to provide information to the government on financial consumer trends and emerging issues.  As part of the agency’s strategic imperatives, the Commissioner has made the identification of trends and emerging issues that impact consumers a priority and has committed to engage and consult on financial consumer protection issues.

To support this effort, a Committee made up of a wide range of stakeholders will be established to engage and consult on financial consumer protection issues.

Mandate

The mandate of the Committee is to:

  • Provide information on financial consumer protection issues in support of FCAC’s financial consumer protection mandate
  • Identify and evaluate trends and emerging issues of relevance to financial consumers
  • Share and discuss research relevant to FCAC’s financial consumer protection mandate and identify research opportunities
  • Bring to bear all of its knowledge and expertise in the best interests of financial consumers

Membership

CPAC will help inform the Commissioner in carrying out the Agency’s financial consumer protection mandate. Its members will help inform FCAC’s supervision work, research initiatives, development of consumer education material and provide input on the evolving nature of the sector and consumer needs. In addition, CPAC members will share their perspectives on marketplace trends, concerns regarding the delivery of financial services, and how changes in the financial services sector are impacting Canadians.

Committee membership will be for a two-year period and may be renewed at the discretion of the Commissioner.

Membership selection will be open and transparent, representative of Canada’s diversity, and merit-based.

Candidates

Candidates should describe in their application their interest in financial consumer protection and provide evidence of their competencies and experience that could further advance the goal of strengthening financial consumer protection.

The members are appointed by the Commissioner of FCAC and include stakeholders from the public, non-profit and private sectors. The Commissioner considers the roles, experience and knowledge of applicants in selecting members of the Board. The Commissioner also reserves the right to select a member who, in her view, has expertise or represents interests that may help advance the Board’s work.

Candidates should be senior representatives of organizations or in their field of expertise, active in the financial sector and have significant influence within their sector. Members are required to actively participate in the Board’s activities, and to demonstrate the importance they or their organization accords to financial consumer protection issues and the identification and evaluation of emerging trends and issues.

Meetings

The Committee will meet at least twice a year and may, at the discretion of the Chair, hold additional meetings. In-person participation is preferred; however, conference call facilities will be made available if required.

The Commissioner may invite observers and/or experts to assist the Committee in its duties.

FCAC provides secretariat services and administrative support for the Committee’s meetings, including agendas and minutes.

Costs

FCAC may reimburse CPAC members from the non-profit sector and academia for their travel costs to attend meetings, in accordance with the Treasury Board guidelines. To be reimbursed, members must receive approval from FCAC prior to making travel arrangements and will be required to submit a travel expense claim with receipts. In exceptional circumstances, an honorarium may also be granted in accordance with the Treasury Board guidelines.

Application

Please complete and send your application online. You may wish to prepare your replies to the questions below before you access the online form for ease of submitting content. This web page will not be available to you while you complete the online application, and you cannot save information entered and return to it at a later date.

Due date

June 30, 2017

For more information

For more information, contact compliance@fcac-acfc.gc.ca. Only those applicants selected for membership will be notified.

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