Life Insurance Policy Support Specialist

Scotiabank; Toronto; On-site; CAD 70,000 - 100,000; Full time

Job summary

Scotiabank in Toronto is seeking an Associate Insurance Service Advisor to support licensed advisors, Branch Managers, and Insurance Consultants with in-force policy management and servicing. You will review statements, assist with illustrations, manage Agent of Record for orphaned policies, and identify opportunities to introduce Insurance Consultants for conversions or re-applications.

A University degree and LLQP are required; CFP/CLU assets; 3-5 years life insurance experience; strong client

Qualifications

• Minimum of 3-5 years’ experience within the life insurance industry coupled with a University degree (or equivalent education)
• LLQP is a requirement
• The Certified Financial Planner (CFP) and/or Certified Life Underwriter (CLU) designations are an asset
• Experience working with permanent life insurance and working knowledge of insurance carrier illustrations, software and advisor portals is essential
• Knowledge of the estate planning uses for life insurance including corporate owned life insurance strategies is essential
• Outstanding interpersonal skills, with an ability to deal with sensitive and difficult client situations in a gracious and professional manner
• Ability to work effectively and collaboratively within a team
• Readily embrace change and thrive in an ever-changing environment
• Well organized, goal driven and action oriented
• Demonstrates pro-activity, initiative and resourcefulness
• Service-oriented with a high value placed on rapid and high-quality responses
• Proficiency in the use of Microsoft Windows and its applications including Excel, Word, PowerPoint and MS Outlook

Responsibilities

• Acts as the main point of contact for licensed advisors in the region who have questions and require support related to in-force policy management activities.
• Deliver training to advisors on accessing policy details within Centralize and best practices for servicing activities; reviewing statements and notices; flagging policies needing attention; undertaking policy analysis; requesting in-force illustrations; and providing paperwork to advisors.
• Proactively reviews a subset of in-force permanent life insurance policies at key milestones to identify potential issues and mitigate risks.
• Takes on Agent of Record for orphaned policies within the region and manages policies for clients, including referrals from unlicensed advisors or business partners.
• Triages requests for licensed advisors to take over as Agent of Record on policies sold by external agents, ensuring onboarding and risk considerations are met.
• Identifies opportunities to introduce an Insurance Consultant into in-force policies for conversions, re-applications, or secondary sales; collaborates with ICs regionally.
• Champions a customer-focused culture to deepen client relationships and leverage broader Bank relationships and systems.
• Understands the Bank’s risk appetite and risk culture in day-to-day activities and decisions.
• Ensures day-to-day business controls meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
• Champions a high-performance environment and contributes to an inclusive work environment.

Skills

Life insurance

Policy servicing

Client service

Team collaboration

Proactivity

Adaptability

Interpersonal skills

MS Office

Communication

Education

University degree

LLQP

CFP

CLU

Tools

Advisor portals

Life insurance illustrations software

MS Office suite

Windows OS

Job description

Scotiabank in Toronto is seeking an Associate Insurance Service Advisor to support licensed advisors, Branch Managers, and Insurance Consultants with in-force policy management and servicing. You will review statements, assist with illustrations, manage Agent of Record for orphaned policies, and identify opportunities to introduce Insurance Consultants for conversions or re-applications.

A University degree and LLQP are required; CFP/CLU assets; 3-5 years life insurance experience; strong client