Director, Product, Creditor Insurance

Director, Product, Creditor Insurance

Apply locations: Toronto, ON, CAN

Time type: Full time

Posted on: Posted 4 Days Ago

Job requisition id: R240028762

Application Deadline: 11/27/2024

Address: 250 Yonge Street

Job Family Group: Customer Solutions

Our Retail Insurance organization is focused on delivering innovative, digitally enabled, and customer-first insurance solutions. We’re seeking a dynamic Director, Product, Creditor Insurance to lead our portfolio with strategic vision and a passion for making a difference. Reporting to the Head, Retail Insurance, you’ll drive strategic outcomes that elevate customer and business value, taking full ownership of the product roadmap, including new initiatives and existing product blocks. With a digital-first mindset, you’ll lead transformation efforts to modernize offerings while navigating legacy systems. Collaboration is key, as you’ll work cross-functionally with sales, distribution, compliance, IT, and other teams to launch and enhance products that deliver exceptional customer experiences.

What You’ll Do

• 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.

What Makes You a Great Fit

• You’re a strategic thinker and results-oriented leader who thrives on driving innovation and growth.
• You bring a blend of creativity, financial acumen, and market awareness to your work.
• Your ability to lead, inspire, and collaborate across teams sets you apart, and you have a track record of successfully managing complex product portfolios.
• Above all, you’re passionate about creating customer-centric solutions and making a real impact.

Your Experience & Skills

• 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.

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.

We’re here to help

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

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.

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. To request accommodation, please contact your recruiter.

About Us

BMO is a leading bank driven by a single purpose: to Boldly Grow the Good in business and life. Everywhere we do business, we’re focused on building, investing and transforming how we work to drive performance and continue growing the good.

Who we are

We’re proud to be fueling growth and expanding possibilities for individuals, families and businesses. More than 12 million customers count on us for personal and commercial banking, wealth management and investment services. As the 8th largest bank in North America by assets, we provide personal and commercial banking, wealth management and investment services to more than 12 million customers.