FSRA Appoints Mehrdad Rastan to EVP of Credit Union and Insurance Prudential

After a comprehensive recruitment process, the Financial Services Regulatory Authority of Ontario (FSRA) is pleased to announce that Mehrdad Rastan has been appointed the EVP of Credit Union and Insurance Prudential, effective January 4, 2022.

Mehrdad is a passionate leader with over 25 years’ experience executing strategic initiatives, establishing strong partnerships, building high performing teams and championing transformational organizational culture.

Mehrdad has spent the last ten years as a regulator at the Financial Services Regulatory Authority of Ontario (FSRA) and the British Columbia Financial Services Authority (BCFSA) in executive positions building regulatory and supervisory teams and implementing modern systems and frameworks to promote operational resilience and financial stability.

During his time at FSRA, building on his success as a senior credit union regulator at the BCFSA, Mehrdad has overseen the re-build of FSRA’s recovery framework and the enhancement of the resolution regime, and helped to implement integrated market conduct and prudential supervisory processes. He has also led the development of a principles-based, outcomes-focused, integrated Risk Based Supervisory Framework, and supported the enhancement of the credit union financial stability structures and the ongoing administration of PACE Credit Union.

Prior to his regulatory roles he held strategic and risk management positions in investment, hedge, and pension funds and founded and developed start-ups in construction, entertainment and technology. Mehrdad taught physics, finance and risk management at Simon Fraser University for over 15 years, has earned degrees in physics and finance and holds the professional Financial Risk Manager (FRM) and Chartered Financial Analyst (CFA) designations.

“Mehrdad brings not only a wealth of experience and knowledge about credit unions and financial services regulation, he has a proven track record of leading transformational change, building strong teams and relationships and successfully identifying and managing risks” said Mark White, CEO of FSRA.  “I would also like to thank Guy Hubert for his many contributions to FSRA, DICO and the credit union sector, including strong leadership during the transition from DICO and launch of FSRA.”

“I am excited and highly motivated by this opportunity to focus my efforts on FSRA’s critical mandate to protect consumers and regulate Ontario’s diverse financial services sector with a modern, world class regulatory regime and organization”, said Mr. Rastan. “My first priority will be to reach out and engage the sector, my FSRA colleagues and other key stakeholders.”