Mortgage Product Manager

MCAP; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

A financial services firm located in Ontario is seeking a Product Manager to develop and manage insurance and warranty products. This role requires a minimum of 3 years of experience in product management, strong financial analysis skills, and knowledge of the creditor insurance sector. Responsibilities include forecasting, market research, and project management. The ideal candidate should have strong communication skills and a solid educational background in Finance or Economics.

Qualifications

• Minimum 3 years' experience in product management or financial analysis.
• Deep industry knowledge of creditor insurance products.
• Strong financial modeling skills.

Responsibilities

• Assist in the development and management of products.
• Forecast and monitor performance to meet sales targets.
• Lead projects from conception to completion.

Skills

Product management

Financial analysis

Strong communication skills

Organizational skills

Analytical skills

Multitasking

Relationship building

Education

Educational background in Finance or Economics

CFA designation

LLQP designation

Tools

MS Office

Power BI

Python

Tableau

Job description

The Role

This position will be responsible for assisting in the development, management, and analysis of new and existing products, services, and strategic initiatives to contribute effectively to the company's business and strategic objectives.

Product Management for Non-Mortgage Products

• Develop financial models for business cases, forecasting, and evaluating the viability of insurance and warranty programs for senior executive review.
• Serve as the subject matter expert in Creditor Insurance, Home Warranty, and Property Taxes products, including product management, financial structures, legal, and regulatory requirements.
• Gain an in-depth understanding of the external market and customer base for these products.
• Forecast and monitor performance to meet sales and revenue targets.
• Provide tactical recommendations to achieve business plan objectives.
• Educate business units on new product features, processes, and details.
• Act as the primary contact for Sales, Operations, and IT regarding product or operational issues.
• Coordinate with vendors such as Canada Life and Assurant Canada.
• Monitor and audit sales activities to identify opportunities for growth.
• Create and update guidance materials and training to support sales efforts.

Development and Design of Products

• Proactively develop strategies for new and existing products to enhance growth and revenue.
• Lead research and analysis to scope out ideas and concepts.
• Ensure products are competitively positioned, profitable, and meet customer needs.
• Collaborate with senior management and business units to support product initiatives.
• Conduct post-launch analysis on volume, profitability, and sales channels.
• Continuously evaluate product performance against expectations.
• Design financial models to project cash flows and earnings over investment horizons, collaborating with finance for accuracy and proper accounting treatment.
• Regularly review and improve processes and analysis methods.

Planning, Resources, and Budgeting

• Participate in planning and budgeting processes.
• Contribute to group objectives and strategies.
• Ensure quality controls and data integrity are maintained.

Market Research and Analysis

• Stay informed about relevant products/services offered nationally and globally to identify gaps and opportunities.
• Analyze market information to align with the company's product strategy.
• Monitor competitors for benchmarking and analysis.

Product Evaluation

• Assess the success of products by comparing actual results to projections.
• Identify reasons for successful or unsuccessful launches and improve product lines accordingly.

Project Management

• Lead projects from conception to completion, managing scope, deliverables, timelines, costs, and post-launch success.
• Identify and prioritize issues affecting projects, analyze problems, evaluate solutions, and make informed decisions.

Qualifications

• Minimum 3 years' experience in product management or financial analysis within creditor insurance or insurance sectors.
• Deep industry knowledge of creditor insurance, mortgage life, disability, critical illness, property & casualty, and home warranty products.
• Knowledge of mortgage and consumer products, including creditor or term insurance.
• Proficiency in Outlook, MS Office, Power BI, with working knowledge of Python and Tableau.
• Strong financial modeling skills and understanding of financial structures.
• Excellent communication, organizational, and analytical skills.
• Ability to multitask in a fast-paced environment and foster strong relationships.
• Self-motivated, responsible, with integrity.
• Educational background in Finance or Economics; CFA and LLQP designations preferred.