Working closely with product Director, Annuity Solutions and other BMO resources, the Product Manager, Annuities plays a key role in developing new product components and upgrading existing product components including detailed product specifications, overviews, sales promotion and disclosure material, and working closely with Technology and Policyholder Services to develop the end to end business process support for annuity products.
This position requires subject matter expertise with annuity structure, distribution, the regulatory environment and ideally tax. This position plays a critical role in delivering the competitive products and sales support required to successfully build BMO Insurance’s business and its reputation for competitive, quality products with independent insurance and financial advisors across Canada.
While this position principally supports annuities, the incumbent may also be assigned to other projects and Sales Technology mandate.
- Play a key role on multi-disciplinary product development teams to champion and develop product specifications and requirements and the end to end business process to support the introduction of new products and product enhancements
- Review and together with the product director sign off on detailed business requirements for Technology and Policyholder Services development
- Manage third party relationships (Cannex, LIMRA, CLHIA) required to support products and services
- Manage internal relationships (actuarial, policyholder services, tax, sales, client experience) to support products and services and daily inquiries needing resolution
- Work with Legal & Compliance to develop necessary regulatory structure and filings, commission schedules and marketing collateral required to support new products, product revisions and current product
- Develop content for product materials such as product overviews, guides, case studies, email broadcasts and sales presentations for the BMO Insurance and BMO Business Development Team and advisors; ensure that the Wave tree and product marketing library is current and up to date
- Develop client focused financial concepts / solutions using annuities and working with the Product Manager, Segregated Funds, to develop financial needs / solutions programmes that positions annuities, segregated funds, mutual funds and other money products for the benefit of advisors and their clients in retirement planning
- Circulate all product specifications, policy wording, product marketing and sales presentation material to business stakeholders and risk managers (compliance, legal, tax, other) for review and approval; retain record of all approvals for audit purposes
- Respond to and where needed co-ordinate and see through to resolution frequent product related inquiries from the field and policyholder services
- Chair regular touchpoint meetings with internal stakeholders to proactively address product related and process issues ensuring processes are well documented and promulgated
- Working with the Director, Sales Technology to monitor and make recommendations to keep illustration software user friendly, compliant and on the best platform; review, make recommendations and implement e-app and e-delivery solutions
- Post-secondary degree or diploma in business, marketing or related discipline
- Industry experience with 5 years or more in a product or sales management role
- Working knowledge of financial services and consumer financial needs
- Strong working knowledge of annuities and management business, financial concepts
- Good working knowledge of marketing and promotion to independent distribution networks
- Project Management (Working)
- Analytical Thinking (Working)
- Communication skills (In-depth)
- Problem Solving skills (In-depth)
- Business Numeracy (Working)
- Influence Skills (Working)
- Business acumen (Working)
We’re here to help
At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://bmocareers.com/ .
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.
Insurance & Assurance
BMO Wealth Management-X005000