Senior Bilingual Contracting Representative

BMO Insurance; Toronto; On-site; CAD 41,000 - 80,000; Full time

Benefits offered by this job

Health insurance

Tuition reimbursement

Accident and life insurance

Retirement savings plans

Job summary

BMO Financial Group is seeking a specialist to onboard MGAs, distributors and advisors for BMO Life Assurance products, ensuring accurate and timely compensation and compliance.

This role collaborates with stakeholders, analyzes data, and maintains records for complex contracting and sponsorships, with a focus on risk mitigation and regulatory adherence.

Qualifications

• 2–3 years of relevant MGA/Advisor experience.
• Post-secondary degree in related field desirable.
• Working knowledge of contracting and provincial licensing for MGA/Advisors.
• Understanding of reporting and compensation hierarchy & payments.
• Proven experience with administrative systems (EIM, Ingenium, Apexa) is an asset.
• Verbal & written communication skills - good.
• Organization skills - good.
• Collaboration & team skills - good.
• Analytical and problem solving skills - good.

Responsibilities

• Onboards MGAs, distributors and advisors to enable marketing of Life Assurance products.
• Maintains compensation rates so payments are accurate and timely.
• Answers contracting and compensation questions.
• Gathers data and formats into regular and ad-hoc reports and dashboards.
• Analyzes data to provide insights and recommendations.
• Ensures compliance with policies, procedures and regulatory requirements.

Skills

Verbal & written communication

Organization skills

Collaboration & teamwork

Analytical & problem solving

Reporting & compensation knowledge

Education

Post-secondary degree in related field

Tools

EIM

Ingenium

Apexa

Job description

#bmoinsurance

Onboards new managing general agencies (MGA)/distributors and advisors to allow them to market BMO Life Assurance products. Considers contracting requests and provides support to MGAs/distributors and advisors. Maintains compensation rates so that payments are accurate and timely. Answers technical questions related to contracting and compensation payments.

• Collaborates with internal and external stakeholders in order to deliver on business objectives.
• Gathers and formats data into regular and ad-hoc reports, and dashboards.
• Analyzes data and information to provide insights and recommendations.
• Evaluates suitability for Life License Sponsorships, non-face to face Advisor applications and special compensation requests.
• Manages the Federal, provincial and family services garnishment requests.
• Reviews, analyzes, approves and manages complex contracting requests such as transfers of business between MGA/Distributors and Advisors, notifications of termination or deceased advisors.
• Maintains MGA/Advisor records on all systems as applicable to ensure timely and accurate payment of compensation.
• Mitigates relationship and financial risk by accurately setting up and maintaining MGA/Distributors and Advisor records in administrative systems to avoid inaccurate or delayed compensation which could result in unlimited financial risk.
• Ensures activities are executed in accordance with established policies and procedures and compliance requirements.
• Understands and mitigates risks and regulatory implications of contract management and compensation structures.
• Completes complex & diverse tasks within given rules/limits and may include handling escalations from other employees.
• Analyzes issues and determines next steps.
• Broader work or accountabilities may be assigned as needed.
• Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.

Qualifications

• Typically between 2 - 3 years of relevant experience and post-secondary degree in related field of study desirable or an equivalent combination of education and experience.
• In-depth experience in MGA/Advisor environment.
• Working knowledge of contractual and regulatory procedures related to MGA and advisor contracting and provincial licensing.
• Understanding of reporting and compensation hierarchy & payments.
• Proven working knowledge in administrative systems an asset – (EIM, Ingenium and Apexa).
• Verbal & written communication skills - Good.
• Organization skills - Good.
• Collaboration & team skills - Good.
• Analytical and problem solving skills - Good.

Salary

$40,500.00 - $80,000.00

Pay Type

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.