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Business Development Specialist (BMO Insurance)

Toronto, ON
Full Time
3 days ago
60 Yonge Street

Job Family Group:

Wealth Sales & Service

Thank you for your interest in BMO Financial Group. We are currently working towards providing a better candidate experience by including all of our job descriptions in both English and French. In the meantime, if this role is located in Quebec and/or New Brunswick please reference the French job description available below the English version. Otherwise please see the job description below in English as per federal language requirements.

Nous vous remercions pour votre intérêt a l'égard de BMO Groupe financier. Nous travaillons actuellement a offrir une meilleure expérience aux candidats en publiant toutes nos descriptions de poste en français et en anglais. Entre-temps, si ce poste est affiché au Québec ou au Nouveau-Brunswick, veuillez consulter la description de poste en français disponible sous la version anglaise. Autrement, veuillez consulter la description de poste ci-dessous en anglais, conformément aux exigences fédérales en matière de langues.

The Business Development Specialist is accountable to provide inside sales support to the regional business development team to enhance the promotion of BMO Life Assurance products and services to managing general agencies (MGAs) and brokers. In addition, this role is accountable to proactively contact smaller MGAs and brokers to promote product and services, and increase overall business results. Note: A Senior Business Development Specialist spends 20 - 30% of their time doing the job of a Business Development Manager.


Inside Sales:
  • Support the sales efforts of the regional business development team by providing inside sales support including, but not limited to, the following key activities:
  • Providing insurance quotations to MGA product specialists and Brokers
  • Providing technical support to managing general agency product specialists and brokers
  • Providing training on products, illustration software and other tools
  • Managing the special quote process ensuring that the response is received according to the desired timeline (when feasible)
  • Manage large case process to build the overall regional business
  • Following up on larger cases during the new business application process, and playing a role to expedite the application by gathering information or other support as required
  • Answering any questions raised about insurance concepts
  • Creating marketing tools and presentations for use in the region to drive business
  • Maintaining regional statistics
  • Providing training and respond to queries by MGA staff and brokers on use of sales software and website
  • Analyzing competitor information, programs and tactics to provide insight to business development team in the region
  • Following up as required on specific case situations with New Business, Underwriting, Marketing, Actuarial to resolve outstanding concerns and support the business development team

Business Development:
  • Contact smaller (B) MGAs and brokers to promote BMO Life Assurance products and services
  • Prioritize business development contact strategy, based on the defined lists, and determine the appropriate messaging that will support additional business growth

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, antimoney laundering, privacy and disclosure of outside business activities

Required Knowledge and Skills:
  • College degree in business or related field
  • 3 - 5 years of experience in the insurance industry
  • Life Insurance license preferred but not required
  • Certified Financial Planner or other professional designation is an asset
  • Working knowledge of insurance business & systems and agency distribution channel
  • Working knowledge of financial concepts, including financial planning and financial understanding of insurance products
  • Working knowledge of more advanced sales concepts in insurance, including corporate applications
  • In-depth knowledge of insurance software and systems applications preferred
  • Communication skills (In-depth)
  • Problem Solving (Working)
  • Organizational skills (Working)
  • Able to manage multiple priorities in a fast-paced environment

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. 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 .

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.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.
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