Director, Annuity Solutions

Application Deadline:

07/28/2025

Address:
250 Yonge Street

Job Family Group:

Customer Solutions

Working closely with the SVP and Head, Individual Insurance and Annuities and other BMO resources, the Director, Annuity Solutions leads the development of new products and the maintenance, including upgrades, of existing product components. The Director, Annuity Solutions also works closely with the following: VP, Business Development, Segregated funds and Annuities to support our wholesaler teams; Technology and Transformation teams, BMO Investment Funds Group and our Operations teams to develop end-to-end business process support for annuity product lines; and with the Director, Insurance and Annuity Sales Promotion to contribute to the development of sales promotion and disclosure material for Annuity product lines. These product lines currently include Segregated Funds, Income Annuities and Structured Settlements.

This position requires in-depth subject matter expertise in investment funds and annuities, playing a critical role in delivering the competitive products and sales support required to successfully build BMO Insurance's business and its reputation for competitive, quality products with independent insurance and financial advisors across Canada. While this position principally supports annuity products, the incumbent may also be assigned to projects under broader corporate mandates. The position also manages a team of Product Managers and Specialists.

Key Accountabilities:

• Play a lead role on multi-disciplinary product development teams to support the introduction of new products and product enhancements (e.g. creation of business cases, securing associated funding and resources, development of product specifications and end-to-end business process requirements).
• Ensure completion of all other facets of product development; examples include policy wording, product marketing and sales presentation material to business stakeholders and risk managers (compliance, legal, tax, other) for review and approval; retention of all approvals for audit purposes.
• Review and sign off on detailed business requirements for technology development.
• Manage both internal (e.g. Actuarial, Sales, Legal, Compliance, Admin, Agency, BMO GAM) and third party (e.g. L&T Infotech, Refinitiv) relationships to co-ordinate efforts for project completion.
• Work with Legal & Compliance to ensure all regulatory filings are completed and on time (e.g. Information Folders, Fund Facts) and proactively plan for the adoption of new regulatory initiatives (e.g. segregated funds cost disclosure, G2 Guidelines) as required by regulators and industry associations (e.g. CCIR, CLHIA).
• Champion the need, funding, and development of greater electronic processing capability (e.g. electronic applications, advisor/client on-line access).
• Support and help champion efficient and cost-effective back-office administration delivery to distribution partners by ensuring proper funding and tools are in place (e.g. workflow processing, case management).
• Monitor expense levels and performance relative to budget and actuarial pricing assumptions with proactive intervention when required .
• Working with internal and external partners, help manage and mitigate risk to reduce earnings volatility (e.g. proactively identify product features/processes that could ultimately lead to unplanned financial and reputational losses (e.g. anti-selection), ensure marketing collateral is defensible, systems are aligned to and delivers on product design).
• Negotiate, renew, and monitor agreements/contracts with both internal and external partners ensuring they accurately reflect roles, responsibilities, and service standards with appropriate mitigating measures for non-compliance.
• Manage expectations and equitably balance the interests of all stakeholders, including sales, actuarial (pricing) and back-office administration.
• Co-ordinate the development and enhancements for tools to better the advisor and client experience (e.g. enhanced illustration tools, client statements).
• Lead or assist in the development of product materials and marketing collateral such as product overviews, guides, financial concept case studies, email broadcasts and sales presentations to support the sale of new products and maintenance/enhancements of existing products.
• Work closely with our business wholesaler team partners to ensure their needs are being supported on a timely basis

Knowledge:

• Post-secondary degree or diploma in Marketing, Actuarial, Finance or related discipline
• Industry experience with 10 years or more in a product or sales management role
• Subject matter expertise of financial services and consumer financial needs
• Strong knowledge of the insurance or investment management business and financial concepts
• Strong working knowledge of marketing and promotion to independent distribution networks

Skills:

• Project Management (Expert)
• Analytical Thinking (In-depth)
• Communication skills (In-depth)
• Problem Solving skills (In-depth)
• Influence skills (In-depth)
• Business acumen (In-depth)
• Organizational skills (in-depth)
• Multi-tasking skills (Expert)

Salary :

$86,000.00 - $160,000.00

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: https://jobs.bmo.com/global/en/Total-Rewards

About Us

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 https://jobs.bmo.com/ca/en .

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.