Director, Product, Creditor Insurance

Application Deadline:

11/25/2024

Address:

250 Yonge Street

Job Family Group:

Customer Solutions

The Director, Product, Creditor Insurance will oversee and shape the strategic direction, performance, and development of BMO’s Creditor Insurance portfolio with P&L accountability. This leadership role is responsible for defining the product roadmap, leading business case development, driving product innovation, enhancing customer experience, and ensuring compliance within a highly regulated environment. Reporting to the Head of Retail Insurance, the Director will collaborate with internal and external partners to meet business objectives and deliver customer-centric solutions.

• Strategic Leadership: Define and implement strategies for BMO’s Creditor Insurance products, ensuring alignment with overall Retail Insurance goals and market trends.
• Product Roadmap and Business Case Development: Develop and maintain the product roadmap to achieve strategic and financial goals and lead the preparation and presentation of business cases for new product initiatives and enhancements.
• Product Development and Innovation: Spearhead the development, launch, and enhancement of Creditor Insurance products to address evolving customer needs, competitive pressures, and regulatory demands.
• P&L Management: Oversee and manage the Creditor Insurance portfolio’s financial performance, including revenue growth, cost management, and profitability, with accountability for meeting financial targets.
• Cross-Functional Collaboration: Work with Sales, Distribution, Risk, Compliance, IT, and other internal teams to develop and execute initiatives that drive business results.
• Regulatory and Risk Management: Ensure all Creditor Insurance products meet regulatory compliance standards and risk management practices, collaborating closely with legal and compliance partners.
• Customer-Centric Focus: Drive customer satisfaction by developing and refining products that meet customer needs, leveraging data and market insights to continuously improve offerings.
• Data and Market Insights: Analyze industry trends, competitor strategies, and performance metrics to identify opportunities and risks, making data-informed recommendations.
• Team Leadership and Development: Lead, mentor, and develop a high performing team of professionals, fostering a culture of accountability, collaboration, continuous improvement and inclusion.

Qualifications:

• Typically, 7+ years of experience in the insurance industry, with a strong background in Creditor and/or Retail Insurance, including leadership roles.
• Inclusive Leadership: Proven commitment to fostering a diverse, inclusive and equitable work environment with the ability to bring together different perspectives and promote a culture of belonging.
• Leadership Excellence: Demonstrated ability to lead, influence and nurture strong partnerships with both internal and external stakeholders, driving complex projects to completion.
• Strategic Thinking: Proven ability to develop and execute strategies that align with business objectives and market needs, driving key performance indicators.
• P&L Accountability: Experience managing P&L, with a proven record of achieving financial targets and optimizing profitability.
• Product Roadmap and Business Case Expertise: Strong experience in defining product roadmaps and building compelling business cases to support product development and enhancement.
• Customer Focus: Deep understanding of customer needs, market dynamics, and trends in the insurance industry, with a commitment to delivering best-in-class customer experiences.
• Analytical and Financial Acumen: Expertise in data analysis, financial modeling, and performance management.

Salary:

$84,000.00 - $156,000.00

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: