Principal Broker, CHES Special Risk

Business Line: Compliance & Risk Management

Hours Per Week: 35 (Full-Time)

Location: Toronto, Ontario – 190 King Street West – 19^th Floor

Job Details: Full-Time, Permanent Position, Current Vacancy

Wage Transparency: The base salary range for this position is $110,000 to $120,000. The base salary offered will be determined by factors including, but not limited to, experience, credentials, education, certifications, skill level required for the position, the scope of the position, and geographic location. Actual base salary offered will be determined on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives.

 

About the Role

We are seeking an experienced Principal Broker to serve as the organization’s designated regulatory leader across multiple provinces. This role is responsible for overseeing licensing, compliance, and governance frameworks, ensuring adherence to all insurance regulations, and acting as the primary liaison with regulatory bodies. The Principal Broker will also provide supervision of broker activities, mitigate regulatory risk, and partner with leadership to support strategic initiatives while maintaining the highest standards of integrity and consumer protection.

 

What You’ll Do

• Regulatory & Compliance Oversight
  • Act as the Designated Representative / Principal Broker / Nominee / Responsible Officer in accordance with applicable provincial insurance legislation.
  • Ensure the organization, its representatives, and any sub agents maintain active and appropriate licenses as per the regulatory requirements.
  • Oversee compliance with provincial insurance acts, regulations, regulatory guidance, and codes of conduct.
  • Serve as the primary point of contact with insurance regulators, responding to inquiries, audits, and examinations in conjunction with the Compliance and Legal team.
  • Ensure timely reporting of material changes, complaints, investigations, or disciplinary matters to regulators as required.
• Supervision & Governance
  • Establish, maintain and enforce policies, procedures, and controls related to licensing, conduct, and regulatory compliance.
  • Identify, assess, and escalate regulatory risks, operational gaps, and compliance concerns.
  • Supervise the activities of both unlicensed and licensed brokers, agents, and sub agents to ensure adherence to internal policies and regulatory requirements.
  • Ensure appropriate training, continuing education, and competency standards are met by staff.
  • Review and address complaints, errors & omissions matters, and conduct issues, escalating as required.
• Operational & Program Oversight
  • Provide oversight of insurance programs, delegated authority arrangements, and underwriting or distribution practices, as applicable.
  • Ensure proper governance over third-party relationships, including vendors and sub-producing brokers.
  • Collaborate with senior leadership, compliance officer, and legal teams to assess risk and implement mitigation strategies.
  • Participate in audits, due diligence reviews, and internal control assessments.
  • Claims – oversight and communication, root cause analysis, ensuring incidents which may give rise to a claim are tracked and mitigated
• Leadership & Advisory
  • Advise executive leadership on regulatory developments, emerging risks, and compliance trends.
  • Promote a culture of integrity, accountability, and consumer protection.
  • Support strategic initiatives while ensuring alignment with regulatory obligations.
  • Represent the organization professionally with regulators, carriers, and industry stakeholders.

 

 

What You Bring 

• CIP, CAIB or CRM designation (CIP strongly preferred)
• Ability to be a listed Officer of the firm
• 5+ years of experience in regulatory compliance, insurance operations, brokerage leadership, or agency management.
• Strong understanding of multi-province P&C regulatory frameworks.
• Strong analytical, documentation, and governance skills.
• Excellent communication, organizational, and stakeholder management capabilities.
• Experience supervising teams or overseeing broker/agent activities.
• Experience with Lloyd’s Coverholder agreements and/or domestic carrier underwriting programs is an asset, including compliance, controls, and audit requirements.
• Ensure compliance with carrier and vendor contract requirements

 

  Licensing Requirements

 

• Maintain proper licensure, in good standing, in all applicable jurisdictions including but not limited to the below:
  • Ontario – Registered Insurance Brokers of Ontario (RIBO)
    • RIBO Level 3 (Management) Broker License
  • Alberta – Alberta Insurance Council (AIC)
    • General Insurance Level 3 License (or Level 2 General License with eligibility to act as a Designated Representative (Level 3)
  • British Columbia – Insurance Council of BC
    • Level 3 General Insurance License
    • Eligible to act as a Nominee
  • Quebec – Autorite des marches financiers (AMF)
    • Certified insurance representative (Damage insurance broker/agent)
  • Saskatchewan Insurance Council of Saskatchewan (ICS)
    • Level 3 General Insurance Broker License
    • Completion of CAIB 1 –4 or approved equivalent
  • Manitoba – Insurance Council of Manitoba (ICM)
    • Level 3 General Insurance Broker License
    • Completion of CAIB 4
  • Northwest Territories – Office of the Superintendent of Insurance
  • Nunavut – Office of the Superintendent of Insurance
  • Yukon – Yukon Professional Licensing and Regulatory Affairs

 

 Who We Are – CHES Special Risk Inc.

CHES Special Risk Inc. established as a Managing General Agent and Wholesale broker in 2004, in response to Broker demand to a hardening market place, commencing with a particular specialty in the Entertainment and Hospitality business, later becoming a fully accredited Lloyd’s coverholder in 2009. CHES Special Risk are a fully Independent Canadian Owned MGA delivering “A” Rated capacity both in the Hard to Place, and Standard lines classes and support their Retail Brokers in Growing and developing their businesses. Winner of the 2016/2017 Award for MGA of the Year More information regarding CHES Special Risk can be found at: http://www.chesspecialrisk.ca 

 

What’s In It For You

NFP’s PeopleFirst culture offers a multitude of benefits to employees and is a great place to call home.