Director, Portfolio Management

Definity Financial Corporation; Old Toronto; On-site; CAD 97,000 - 179,000; Full time

Job summary

An established industry player is seeking a Director of PI Portfolio Management to lead the Personal Insurance Portfolio Management team. This pivotal role involves developing and executing portfolio strategies, ensuring alignment with financial objectives, and collaborating with various stakeholders to enhance portfolio performance. The ideal candidate will possess a strong analytical background, exceptional communication skills, and a proven track record in property and casualty insurance. If you're a strategic thinker with leadership qualities and a passion for driving results, this opportunity offers a chance to make a significant impact within a dynamic organization.

Qualifications

• 10+ years in property & casualty insurance with team management experience.
• Strong analytical, project management, and leadership skills required.

Responsibilities

• Develop and monitor annual portfolio plans aligning with financial targets.
• Present findings to senior executives and collaborate with key stakeholders.

Skills

Analytical expertise

Project management

Leadership

Communication skills

Negotiation skills

Strategic thinking

Education

University Degree or College Diploma

CIP, FCIP, and/or CRM designations

Tools

Advanced Analytics Models

Market competitiveness reports

Job description

What can you expect in this role?

The Director, PI Portfolio Management will play a fundamental role within the Personal Insurance Portfolio Management team to ensure that Economical, as a public company, will reach its Personal Insurance portfolio objectives and commitments to its investors.

Reporting directly to the Assistant Vice-President, Portfolio Management for Personal Insurance, this critical position is accountable for ensuring that the short and long-term portfolio strategy for their respective portfolios as part of both Broker and Sonnet portfolios are achieved by developing portfolio targets, monitoring portfolio performance against those targets, and identifying corrective actions or initiatives in collaboration with Pricing, Underwriting, Regional Operations, and Business Development to close the gaps or variance to the portfolio plans. This would also include identification of product lines, customer segments, or territories that are underperforming, analyzing the reasons for it, and working closely with stakeholders to implement potential solutions.

This position is accountable for developing the annual portfolio plan for their respective portfolio or portfolios and would also be monitoring and interpreting market actions by competitors and regulatory changes that impact the respective portfolio or portfolios. The role will ensure that the annual portfolio plan aligns back to the annual financial plan.

The position will lead and facilitate a portfolio review process on a monthly basis to monitor variances to the portfolio and financial plans for the respective portfolio or portfolios.

This position will also work closely with the Assistant Vice-President of Portfolio Management to develop a portfolio strategy statement for the respective portfolio or portfolios that aligns back to the longer-term (3 – 5 year) portfolio strategy of the organization.

This position will report to the Assistant Vice-President, Portfolio Management for Personal Insurance and will provide advice on how to improve performance and mix of business.

• Work closely with the Assistant Vice-President, Portfolio Management to develop a strategic long-term portfolio plan for the respective portfolio and portfolios through a strategy statement process and then developing the annual portfolio plan which aligns back to the financial targets of the organization’s operational plan.
• Responsible for the analysis, understanding, and oversight of the respective portfolio or portfolios in Personal Insurance. The role will develop a reporting cadence with key stakeholders to quickly and effectively take actions or initiatives to course correct. The role will also be responsible for assessing concentration of risks.
• Responsible for presenting monthly and quarterly findings to senior executives and stakeholders. Strong communication and presentation skills are required.
• Responsible for the development of the portfolio segmentation and setting internal targets for their respective portfolio or portfolios, monitoring the achievement of these targets, identifying gaps, and collaborating with partners to close the gaps to those targets.
• Leverage models developed by MPA-Advanced Analytics Models using the most advanced modeling techniques and internal/external data to better assess all risks trying to get insurance with Economical, Sonnet, and Family.
• Collaboration with partners such as Pricing, Underwriting, Corporate Actuarial, PI Operations, Business Development, etc. to identify gaps in our actual results vs plan, and to evaluate and implement potential solutions to recover these gaps.
• Work and collaborate with MPA/Advanced Analytics teams on enhancing our third-party data models to maximize our benefits such as MVR, autoplus, credit score, Iclarify, etc.
• Own the development and monitoring of the reports on the results of market competitiveness for Pricing, Product, and Underwriting for the respective portfolio or portfolios.

What do you bring to the role?

• University Degree or College Diploma in a relevant program. CIP, FCIP, and/or CRM designations are advantageous. Proven record of analytical expertise.
• At a minimum 10 years of relevant, full-time property & casualty insurance experience is required with at least 5 years’ experience managing or leading a team.
• Strategic thinker with strong analytical and project management/organizational skills.
• Consistently demonstrates leadership characteristics and is able to make well-informed, effective, and timely decisions.
• Strong communication and presentation skills.
• Strong negotiation, persuasion, and facilitation skills in order to help manage ongoing project delivery efforts with a wide range of stakeholder groups.
• Self-motivated and consistently demonstrates an ability to take initiative on any issue.
• Professional, collaborative, and courteous in all interactions with peers and stakeholders.

We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.

Salary range: $97,000 - $178,800