Ottawa, September 4, 2013
Archived - Minister of Finance Announces Appointment of New Commissioner of the Financial Consumer Agency of Canada
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The Honourable Jim Flaherty, Minister of Finance, today announced the appointment of Ms. Lucie Tedesco as Commissioner of the Financial Consumer Agency of Canada (FCAC).
“I am delighted Ms. Tedesco has accepted to continue her work with FCAC in the capacity of Commissioner. Since its creation in 2001, FCAC has worked tirelessly to help strengthen oversight of consumer issues and expand consumer education in the financial sector, in step with an increasingly complex financial marketplace. I am confident that Ms. Tedesco’s leadership will continue to build on this success,” he said.
Ms. Tedesco’s appointment coincides with a renewed focus on financial literacy for seniors announced in Economic Action Plan 2013 to be spearheaded by FCAC, under the leadership of the Financial Literacy Leader.
“I look forward to the evolution of FCAC’s work in light of these new priorities. I know we can continue to rely upon FCAC to provide leadership, coordination and essential services in the area of financial literacy for Canadians, in addition to engaging senior management of financial institutions to ensure consumers’ interests are protected,” said Minister Flaherty.
Ms. Tedesco has served as Deputy Commissioner of FCAC since 2008 and has been acting in the role of Commissioner since June 2013. Prior to joining FCAC, she served as Vice-President, Strategy & Planning – Insurance Group at Export Development Canada.
Biographical notes are attached.
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:
Office of the Minister of Finance
Department of Finance
A member of the Ontario Bar, Ms. Tedesco took on roles of increasing responsibility in the areas of law, operations, strategy and leadership with major Canadian financial institutions.
Before joining FCAC in 2008, Ms. Tedesco held the position of Vice-President, Strategy & Planning – Insurance Group at Export Development Canada (EDC), where she was responsible for establishing a cohesive vision, mandate and strategy to ensure leading-edge program management and sustainability for EDC’s Insurance Group. From 2003 to 2007, she served as Vice-President, Insurance and Loans Services, and was responsible for providing leadership and strategic direction to teams directly servicing EDC customers in the areas of Claims, Recoveries, Overdue Accounts and Financing. She joined EDC in 2000 as a Director of Claims and Recoveries.
Ms. Tedesco began her career in private practice with Burke-Robertson, Chadwick and Ritchie, Barristers and Solicitors, where she specialized in Insurance Law. She subsequently held the positions of Counsel (1990-1995, Metropolitan Life); Director, Customer Service and Administration (1995-1998, Metropolitan Life); and Director, Government and Community Relations and Retail Service (1998-2000, Clarica).
Ms. Tedesco holds a Bachelor of Arts (French Literature) and an LL.B. from the University of Ottawa.