Senior Product Specialist, PL

Company: CGIC

Department: P&C Manufacturing

Employment Type: Temporary Full-Time (12 months)

Work Model: Hybrid

Language: English is required, French is an asset.

Additional Information: This/these role(s) is/are currently vacant.

The Opportunity
We are a leading Canadian financial services co-operative committed to being a catalyst for a sustainable and resilient society and our team is essential to deliver on this strategy. That's why we prioritize our people, to ensure we provide a strong culture and development opportunities which enables our team to thrive and to live our purpose. The best part is that you will work with people that care passionately about you, our clients, and our communities.

Our Home & Auto Insurance team provides financial security to Canadians by offering superior products and services. Our professional, high performing team strives to deliver effective services and evolves product offerings, to address emerging insurance trends and meet the needs of our clients.

Recognized as the product expert, the Sr Product Specialist provides product expertise and a depth of knowledge on coverages and on the national, regulatory, legislative and industry environment. They provide leadership in developing and maintaining products and coverages to positively affect portfolio profitability. They will maintain and create underwriting and risk selection rules across all portfolios. They are responsible for product design and overseeing the development of wordings. They provide product expertise to all programs and initiatives and Manufacturing projects and implementations.

How You Will Create Impact

• Research, evaluate and author underwriting rules and risk selection guidelines. Author supporting reference material as appropriate.
• Proactively monitor external activities to identify potential legal/regulatory impacts and emerging issues which could impact products and profitability including regulatory and legislative changes, claims issues, product, government bulletins.
• Design products and oversee the development and maintenance of base policy wordings and forms across companies that supports our strategic objectives and our sustainability vision. Author and secure signoff of wordings for compliance with the group of Companies standards. Liaise with Reinsurance Department to ensure reinsurance arrangements are in place to manage the risk exposure to the portfolio in support of product profitability. Author underwriting guidelines for use in treaty and facultative reinsurance.
• Provide leadership and subject matter expertise to project teams implementing change that affect product accountabilities. This includes acting as a SME on product accountabilities in the development, maintenance and enhancement of our policy administration systems.
• Work as a key partner with the Communications and Training teams to provide background information and content for policy wordings, forms, questionnaires, reference and training materials. Product specialists will ensure compliance with regulations and that the needs of the different areas are met and are consistent.
• Support the profitability of portfolios by analyzing, identifying and quantifying potential solutions to identified problems/issues.
• Direct involvement in portfolio and broker acquisitions, support due diligence, assessment of the quality of the portfolio and make recommendations regarding the product for the portfolio conversion.
• Provide product subject matter expertise to internal and external stakeholders such as Public Affairs and Government Relations, Ombudsman Office, and regulators. Provide product specific information and participate in forming our company response to governments.

How You Will Succeed

• You have an innovative mindset to improve operational efficiencies and ability to influence change, with a primary focus on client needs.
• You use critical thinking skills to recognize assumptions, evaluate arguments, draw conclusions and proactively propose solutions.
• You have strong communication skills to clearly convey messages and explore diverse points of view.
• You build trusting relationships and provide guidance to support the development of colleagues.

To Join Our Team

• Minimum 5 years successful PL underwriting experience is preferred.
• Chartered Insurance Professional (CIP) designation and/or FCIP with a major in Underwriting or Risk Management preferred.
• University degree (Business, Economics, Mathematics preferred) or equivalent experience.
• Expert knowledge of PL products, policy wordings, reference and training materials, Insurance Acts and provincial legislation/requirements.
• This position primarily works with majority non-francophone groups, and teams located outside of Québec, and requires proficiency in English. The essential non-French duties are not assignable to adjacent or other team members.

What You Need To Know

• You will travel occasionally.
• You will be subject to a Background check as a condition of employment, in the event you are the successful candidate.

What's in it for you?

• Training and development opportunities to grow your career.
• Flexible work options and paid time off to support your personal and family needs.
• A holistic approach to your well-being, with physical and mental health programs and a supportive workplace culture.
• Volunteer opportunities to give back to your community.