Senior Underwriting Consultant

🔥 19 minutes ago

🇨🇦 Canada – Remote

💵 $70k - $150k / year

⏰ Full Time

🟠 Senior

📋 Underwriter

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BMO U.S.

WebsiteLinkedInAll Job Openings

5001 - 10000 employees

🛡️ Insurance

💼 Consulting

📦 Logistics

Insurance • Consulting • Logistics

BMO U. S. is a diversified financial services company operating in the United States. It offers a broad range of financial products and services including personal and business banking, mortgage services, investments, financial planning, insurance, and wealth management. Additionally, it provides commercial loans, commercial mortgages, and other financial solutions tailored for small businesses and large enterprises. The company places a strong emphasis on customer service and offers digital and cross-border banking solutions to meet the needs of diverse clients. BMO U. S. is also involved in asset management and capital markets operations, making it a full-service financial institution.

📋 Description

• Assess underwriting risk for new and existing BMO Life Assurance insurance policies • Decide whether to issue, modify, or reject policies and determine acceptable terms, rates, and premiums • Recommend and implement solutions based on business analysis • Support strategic planning, product development, and strategic initiatives • Research, develop, and document innovative underwriting practices • Develop and maintain competitive underwriting requirements • Conduct independent analysis and resolve strategic issues • Build relationships and ensure alignment with internal and external stakeholders • Design and produce regular and ad-hoc reports and dashboards • Monitor performance and address issues • Develop and lead change management and communication activities • Resolve escalated complaints and reconsideration requests • Implement continuous improvements to underwriting content and rules • Coordinate internal medical information bureau audits • Act as a subject matter expert for insurance underwriting • Review non-contestable claims and possible rescind investigations • Provide underwriting expertise and support on complex cases across products and distribution channels • Design, implement, and manage core business/group processes • Design and develop tools and training programs, including training delivery • Gather and assess information for new business applications and policy changes • Identify, submit, and accept facultative reinsurance; calculate ratings and negotiate reinsurance agreements • Decide policy conditions based on overall underwriting risk assessment • Prepare documentation and update systems according to established policies and procedures • Review special underwriting requests and rating reconsiderations for MGAs and brokers

🎯 Requirements

• Typically between 5 - 7 years of relevant experience • Post-secondary degree in related field of study or an equivalent combination of education and experience • In-depth knowledge of insurance products, contracts and benefit plans, including all individual, disability and group products • ALU II – working towards F.A.L.U. • Deep knowledge and technical proficiency gained through extensive education and business experience • In-depth verbal and written communication skills • In-depth collaboration and team skills • In-depth analytical and problem-solving skills • In-depth influence skills • In-depth data-driven decision-making skills

🏖️ Benefits

• Performance-based incentives • Discretionary bonuses • Health insurance • Tuition reimbursement • Accident and life insurance • Retirement savings plans • In-depth training and coaching • Manager support • Network-building opportunities • Tools and resources to reach new milestones • Accommodations available on request during the selection process

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