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Senior Business Development Manager - Life Insurance At BMO Financial Group

Location: Toronto, Ontario

Job Description

The Senior Business Development Manager is accountable to promote BMO Life Assurance products and services within the regional network of managing general agencies (MGAs) and brokers. This role is accountable to prioritize their contact strategy and determine messaging to drive the sales growth and meet individual targets, as well as contribute to regional targets.

Key Accountabilities
  • Business Development
  • Concept Development
  • MGA/Broker Support
  • Risk Management
Business Development
  • Consult with MGAs, in an effort to promote BMO Life Assurance product and services to their brokers, including but not limited to, the following key activities:
    • Determining the application of the sales strategy for sales calls to prospect MGAs and brokers
    • Supporting existing relationships with current MGAs and brokers
    • Meeting individually with brokers or MGA product specialists to promote our products and attain sales objectives
    • Conducting appropriate seminars and workshops to present products and sales concepts
    • Providing case support for brokers and MGAs as required to obtain the business
    • Requesting special quotes on life insurance products as required
    • Identify potential new MGAs and Brokers
  • Attend and participate in regional industry events to promote BMO Life Assurance products and services, and enhance the overall reputation of the company Business Development
  • Provide monthly reporting of sales results for MGAs and brokers, and generate discussions on more productive business development opportunities
Concept Development
  • Discuss sophisticated insurance concepts based on customer scenarios with MGAs and brokers to demonstrate the benefit of BMO Life Assurance products and provide support to their sales efforts
  • Share sophisticated insurance concept solutions with other members of the business development team to leverage success across the regional team
MGA/Broker Support
  • Provide advanced product and software training to groups or individuals as required to support the business
  • Investigate the status of large cases currently in the new business application process and resolve issues to secure the business and/or mitigate risk for BMO Life Assurance
Risk Management
  • Adhere to all aspects of First Principles our code of Business Conduct and Ethics including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti‐money laundering, privacy and disclosure of outside business activities
Additional Accountabilities
  • Manage the key managing general agencies and advisors/brokers in the region (key = more profit and/or more profit potential)
  • Manage complex cases – high end sales with a very large sum insured or a complex Universal Life solution
  • Provide coaching, mentoring and training, especially on advanced insurance concepts, to other regional business development employees
  • Coordinate regional events to drive additional business
  • Manage complex cases – high end sales with a very large sum insured or a complex Universal Life solution


Qualifications

Knowledge & Skills

Knowledge
  • Undergraduate degree in business or related field
  • 5 – 10 years of experience in the insurance industry, with a sales focus
  • Life insurance license; strongly preferred exposure to more complex corporate insurance
  • Certified Financial Planner or other professional designation
  • In‐depth knowledge of insurance business, agencies and underwriting principles
  • In‐depth knowledge of financial concepts, including financial planning and financial understanding of insurance products
  • In‐depth knowledge of more advanced sales concepts in insurance, including corporate applications
  • In‐depth knowledge of mutual fund industry is an asset
Skills
  • Networking (Expert) – Strong network is an asset
  • Communication skills (In‐depth)
  • Problem Solving (In‐depth)
  • Organizational skills (In‐depth)
  • Presentation skills (Expert)
  • Bilingualism required for Quebec region

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.

Job

Insurance & Assurance

Primary Location

Canada-Ontario-Toronto

Organisation

BMO Wealth Management-X005000

Schedule

full-time

Job Posting

12/12/18

Unposting Date

01/12/19