Ottawa, June 20, 2013
2013-088

Archived - Minister of State (Finance) Menzies Launches Nationwide Search for First-Ever Financial Literacy Leader of Canada

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The Honourable Ted Menzies, Minister of State (Finance), today announced the formal launch of the selection process for Canada’s first-ever Financial Literacy Leader, to be housed within the Financial Consumer Agency of Canada (FCAC).

“Canadians are consumers of financial products like credit cards, mortgages and day-to-day banking services. In today’s increasingly complex financial marketplace, it is becoming more challenging for Canadians to make financial decisions without clear and plain language information,” said Minister Menzies. “Establishing a Financial Literacy Leader demonstrates our Government’s commitment to helping everyday Canadians when it comes to their financial well-being.”

The Financial Literacy Leader will provide clear leadership and coordination on financial literacy initiatives at the national level. This will include the development of a broad national financial literacy strategy, with particular emphasis on seniors, as well as vulnerable groups such as Aboriginal people, youth, immigrants and low-income Canadians. The Leader will report to both the Minister of Finance and to Parliament, through the Commissioner of FCAC.

The creation of this position delivers on a Budget 2011 commitment, and responds to the first recommendation of the Task Force on Financial Literacy, which published its final report in February 2011. On March 27, 2013, the Financial Literacy Leader Act, which provides for the appointment of a Financial Literacy Leader within FCAC, received Royal Assent.

The Financial Literacy Leader is a Governor in Council position. Interested candidates should consult the Notice of Vacancy for a full description of the position and selection criteria and submit their application by July 22, 2013.

About FCAC

FCAC is an independent body working to protect and inform consumers of financial products and services. It was established in 2001 by the federal government to strengthen oversight of consumer issues and expand consumer education in the financial sector. For additional details about FCAC, visit its website.

For further information, media may contact:

Bram Sepers
Communications
Office of the Minister of State (Finance)
613-996-7861

Jack Aubry
Media Relations
Department of Finance
613-996-8080

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