Product Analyst

Foresters Financial; Toronto; Hybrid; CAD 80,000 - 120,000; Full time

Job summary

A leading financial services company is seeking a Regulatory Compliance Analyst in Toronto. This role focuses on ensuring compliance with insurance contracts and regulations, while collaborating with diverse teams on product initiatives. Candidates should have a solid background in life insurance, 5-10 years of relevant experience, and strong analytical skills. The position offers a hybrid work model, combining remote work with onsite days.

Qualifications

• 5-10 years of experience in operations, actuarial, product, or business analysis roles.
• Strong life insurance background with technical or legal writing skills.
• Ability to meet deadlines in a fast-paced environment.

Responsibilities

• Research and draft insurance contracts ensuring compliance.
• Support product initiatives by applying knowledge and best practices.
• Collaborate with stakeholders on process improvements.

Skills

Analytical skills

Communication skills

Attention to detail

Education

University degree or college diploma

LOMA designation

Paralegal background

Tools

Product development life cycle knowledge

Knowledge of US and/or Canadian life insurance products

Job description

• Research, draft and refine insurance contracts and regulatory forms, including applications, to ensure compliance, clarity and consistency with product plan design and regulatory requirements
• Use product and regulatory knowledge to support regulatory filings and approval functions including review of filings, objections and interpretation of regulatory requirements. This includes seeking opinions / assistance from several levels of management, business, legal and / or peers
• Support product initiatives and enhancements by evaluating and applying industry and Foresters specific knowledge and industry best practices within the Product Development life cycle
• Use product, regulatory and process knowledge to support projects, enhancements, day to day operations, inquiries related to product rules and process and improving processes and procedures, while ensuring product integrity and regulatory compliance are met
• Participate in various stages of quality assurance testing of the product rules including review of test criteria, contract content and data validation, processes and system changes
• Collaborate with key stakeholders, subject matter experts and project team members in defining functional, and business process improvements and providing recommendations to allow key stakeholders to make sound decisions

Key Qualifications & Skills

• Education (minimum required) : University degree or college diploma
• LOMA designation or other industry accreditation
• Paralegal background an asset
• Experience (minimum required) : 5-10 years' experience in operations, actuarial, product, or business analysis roles
• Strong life insurance background and technical writing or legal background an asset
• Attention to detail and strong analytical, writing, and communication skills are essential
• Knowledge of US and / or Canadian life insurance and annuity products and regulations. A broad understanding of Foresters products, functions and systems are an asset
• Functional knowledge of the product development life cycle (such as product concepts / definition, planning, estimating, requirement gathering, analysis and testing) from plan conception to product launch and post launch
• Strong knowledge of building and maintaining products on the administration system, including contracts, calculations, product rules and rate structures
• Ability to multi-task and prioritize to meet deadlines in a demanding, fast-paced environment
• Excellent facilitation and interpersonal skills with the ability to work independently
• Commitment to a strong culture of ethics, compliance and risk identification and management
• Willingness to learn new concepts and technologies, adapt to changes and demands as it relates to product design, development and implementation
• Ability to assess impacts on business processes and product development / management processes

LI-Hybrid- requires minimum two (2) days a week onsite.