Underwriting Product Manager

4 weeks ago

Toronto, Ontario, Canada Facility Association Full time

About Facility Association

Facility Association is a leading organization in the insurance industry that stands out by fostering an open, trusting environment where work-life balance, motivation, and career growth are key for us. Our unique business model provides the opportunity to collaborate with multiple insurance companies across various provinces, giving you a diverse and enriching professional experience. We foster an environment that values trust, openness, and motivation, ensuring that every team member feels supported and inspired.

Position Overview

The primary objective of the Underwriting Team at the Facility Association is to oversee Risk Sharing Pool (RSP) Eligibility criteria, as well as administer the Facility Association Residual Market (FARM), by maintaining a thorough understanding of the Canadian Insurance Market to develop avenues for consumers to successfully (re)enter the voluntary market.

Are you ready to make an impact in the world of underwriting? We're looking for a passionate and innovative Underwriting Product Manager to lead the charge in developing, enhancing and maintaining our underwriting products, including the Facility Association Residual Market (FARM) and Risk Sharing Pool Eligibility.

This is a full-time permanent position. It requires work from the office a minimum of 2 days per month.

Key Responsibilities:

Project Management:

  • Develop and manage project plans, ensuring resource allocation and task coordination
  • Mitigate risks and manage stakeholders effectively
  • Oversee project budgets (as applicable) and ensure quality standards are met
  • Create and execute change management plans for project rollout
  • Execute departmental projects aimed at increasing efficiency

Product Modernization:

  • Collaborate with cross-functional teams (Underwriting, Actuarial, IT, Servicing Carrier) to design and implement product enhancements
  • Ensure compliance with regulatory guidelines and align product offerings with FA's mission, vision, and industry best practices
  • Manage the product development lifecycle from concept through launch
  • Develop necessary documentation to facilitate ongoing performance monitoring by Underwriting Managers and Analysts

Department Process Modernization:

  • Identify inefficiencies in current processes and develop streamlined workflows, leveraging technology solutions where appropriate
  • Explore and integrate new technologies or templates to enhance operational capabilities
  • Document existing and new processes

Stakeholder Management:

  • Develop working relationships with key regulatory contacts and committee members
  • Develop and moderate cross-functional working groups with industry members to drive product modernization forward

Qualifications:

  • Education: College Diploma in Business Administration, Insurance Management or related field, holder of the Chartered Insurance Professional designation and Canadian Risk Management designation.
  • Experience: minimum 5 to 7 years Automobile Underwriting Experience (Personal and Commercial), prior experience working with regulatory rate and rule filing preferred.
  • Product Knowledge: Demonstrated ability to leverage product knowledge and deep understanding of legislative requirements, integrating these areas when executing project plans.
  • Communication: Demonstrated ability to collaborate, influence and counsel with individuals inside and outside the organization; ability to use tact and diplomacy when navigating difficult conversations.
  • Problem Solving: Demonstrated ability to address diverse challenges by evaluating alternative approaches within established practices. Analytical skills and adaptability are key to creatively defining and solving broad and varied issues.
  • Decision Making: This role requires analytical, research and critical thinking skills to adapt to diverse duties involving different processes. Candidates must demonstrate an ability to synthesize information, recognize variables and draw informed conclusions for a broad range of situations.
  • Organization and Planning: Demonstrated ability to plan and organize multiple complex activities, adapting as needed. Strong planning and organization skills required due to potential variations in daily routines.
  • Accountability: Demonstrates responsibility for using, recording, and storing information with occasional accuracy and quality checks.
  • Technical Skills: Proficiency with the MS Office suite of products.If you are a motivated insurance professional who wants to learn more about the insurance industry, we invite you to apply and join our dynamic team.

Facility Association is committed to providing accommodation for people with disabilities. Applicants need to make their needs known in advance.

FA is proud to be an equal-opportunity employer. Alongside a commitment to excellence, FA is also committed to building a diverse working environment with hiring practices that encourage diversity in all its forms, including race, gender, sexual orientation, religion, and ethnicity, among others.

Please be advised that only those applicants who are selected for interviews will be contacted.

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