Requisition ID: 267868
Employee Referral Program – Potential Reward: $1,000.00
We are committed to investing in our employees and helping you continue your career at Scotiabank.
Purpose
The position is responsible for providing administration, oversight, and support from the time of application, underwriting and to a new policy settlement. The incumbent will also resolve problems and escalate, as needed, ensure all require documentation is received and that business is in good order, and monitor and address any insurance licensing requirements.
Accountabilities
- Manages the new business process for assigned insurance applications. This includes ensuring that all application packages and policy contracts are vetted and in good order; initiating and tracking underwriting requirements and following up with key stakeholders to ensure those requirements are met; ensuring the client and policy records on Centralize are updated accurately, with all relevant documents and notes uploaded, including settled policy pages; and liaising with ICs and ISAs on the status of applications and to obtain any necessary requirements. This also includes managing a similar process for certain in-force policy changes, such as term conversions, additional coverages, and other policy changes that require underwriting.
- Acts as a relationship manager on insurance administration issues for assigned regions. This includes being a key resource for advisors, sales leaders, SICs, ICs, ISAs, that provide direction on administrative matters; proactively identifying and escalating issues; and keeping everyone apprised of any developments or updates around business processing.
- Champions a client-driven culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge. •
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Actively pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct, and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
- Champions a high-performance environment and contributes to an inclusive work environment.
Primary Reporting Relationship
Manager, Insurance Operations
Direct Reports – N/A
Dimensions
Supporting approx. 40 Sr. ICs and ICs along with other Scotia Wealth Management field staff, which includes over 70 specialist professionals and over 800 relationship managers across the business lines
Education / Experience / Other Information:
- High school diploma or higher
- Minimum of 3 years of experience in Life Insurance Industry or Financial Services
- LLQP, LOMA Designations are assets.
- Good working knowledge of Microsoft Office
- Effective communication skills, both verbal and written
- Knowledge of Insurance carrier websites, Email communication and Internet
- Self-motivated
- Good organizational and interpersonal skills
- Attention to detail.
- Ability to take initiative, prioritize and work well with minimal direction and multi-task.
Location(s): Canada : Ontario : Toronto
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.
