Senior Manager, Insurance Underwriting Life and Health and Creditor

Work Location:

Markham, Ontario, Canada

Hours:

37.5

Line of Business:

TD Insurance

Pay Details:

$108,800 - $163,200 CAD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

Department Overview

TD Insurance (TDI) is part of TD Bank Group, one of Canada's largest financial institutions. TD Insurance helps protect clients from the 'accidents of life' with a wide range of products including credit protection, life, health, travel, home, and auto insurance.

In Canada, we have two lines of business, General Insurance and Life and Health. The mandate of the Life & Health Team is to grow the Life & Health business through the delivery of solutions that meet the insurance needs of our customers. The business objectives are to protect our customers by offering a robust offering of life and health insurance solutions, travel insurance and wealth insurance solutions, and ensuring we are the leading digital insurer in Canada.

At TD Insurance, we are committed to fostering an inclusive, accessible environment. With a Canada-wide workforce of over 5,000 employees and offices in Atlantic Canada, Quebec, Ontario and Alberta, our company is always growing and can help you to grow. TD Insurance offers a stable and dynamic work environment where talent is appreciated, and professional development is taken seriously. More than just a job, we offer rewarding careers.

Role Description

Reporting to the local AVP Product, Underwriting and Governance and Control, the Senior Manager Underwriter will be responsible for applying sound underwriting judgement in evaluating facultative risks referred. The successful candidate must have the capacity for the timely turnaround of cases which meet agreed client service standards and ensure that the highest quality of service delivery is met.

The successful candidate should possess the motivation and aptitude to assume more strategically focused responsibilities in the longer term. It is critical that the Senior Underwriter be attracted to the prospect of working in an entrepreneurial environment and that he/she possess the communication skills and confidence necessary to engage on a daily basis, with senior level executives and colleagues. He/she will play a critical role in raising the profile, as a member of "the Company's" service offerings in Canada and supporting its corporate objectives.

Key Responsibilities

o Conduct risk assessment and classification in accordance with TD Insurance Life and Health philosophy and standards.

o Provide sound underwriting judgement on all facultative cases, within approval limits, while holding signing authority up to $10 million.

o Manage all aspects of the underwriting process.

o Participate and in and provide a leadership resource for underwriters at all levels.

o Provide feedback on Team performance and develop training, performance, and career development plans.

o Communicate with clients and collaborate with head office colleagues to provide the highest quality and service to levels and to customers and serve as Team's primary contact.

o Maintain positive and effective relationships with internal and external partners.

o Serve as Team's liaison with other departmental units -i.e. Product, Actuarial, Senior Managers / Medical Directors / Legal

o Comply with consumer laws and regulations regarding risk classification, confidentiality, and disclosure.

o Identify and propose solutions to problems and procedures related to the underwriter's work.

o Promote an atmosphere of trust with all clients to facilitate the acceptance of decisions.

Required Qualifications

o Bachelor's Degree in Arts/Sciences (BA/BS) in Pharmacy/Medicine and specific related work experience preferred.

o Minimum 10 years underwriting experience, AALU, FALU preferred.

o Approval limit of at least $5 million in life insurance and $250 thousand in Critical Illness

o LOMA Customer Service preferred.

o Strong industry knowledge with good analytical and problem-solving skills required.

o Ability to adapt to changing environment of Underwriting required.

o Strong verbal and written communication with good computer knowledge required.

o Must be creative, flexible, motivated and responsive.

o Demonstrate effective time management, conflict resolution and team management.

o Work effectively in teams

o Client focused (both external and internal)

o Bilingualism (English and French) is a strong asset.

Additional Information

UNDERWRITING DEPARTMENT

o Solid awareness of current affairs and issues both corporate and external General knowledge of referral area

o Ability to prioritize and work effectively under deadlines balancing published service times with an appropriate customer focus.

o Ability to comprehend, retain and apply current technical information to daily work issues Strong knowledge of insurance contract law and state legislative requirements.

o Expert knowledge of company plans riders, benefits, and illustrations (and how they are marketed)

o Expert knowledge of reinsurance marketplace (including underwriting strengths and weaknesses) to work proactively with the field where reinsurance is an opportunity.

o Thorough understanding of automatic reinsurance agreements

o Expert knowledge of medical science, technology, and their impact on mortality

o Expert knowledge of financial and other non-medical underwriting factors Strong knowledge of product pricing\

o Develop initiatives for revision and update of underwriting policies and practices.

o Create a robust talent plan and, ultimately, pipeline to enhance underwriting talent on the team

Additional Information

CUSTOMER SUPPORTING

• Review applications / submissions for aspects including client reports and results to understand and identify related risks

• Make underwriting decisions based on filed guidelines and within TD's risk appetite

• Actively monitor results for trending patterns and / or issues

• Make decisions that are consistent and fair, considering client needs while following our underwriting philosophy

• Prepare errors and omissions, ex-gratia payments, void coverage request and sends for approval when required by authority

• Meet all service level agreements for both underwriting and renewals activities

• May attend court regularly as a TDI representative for litigation matters

• Record and provide feedback on all declines and decline rule exceptions

• Meet and exceed quality review targets

• Provide technical underwriting support to various departments (CSC, Claims, SIU, Risk, Governance & Control, Quality, L&D)

• Make customer contact in accordance with procedural mandates and underwriting needs

• Appropriately handle customer escalations complaint process and resolution

• Proactively identifies opportunities to create benefits for the customer by reviewing and implementing improvements to efficiency and operations

• At more senior levels, may be required to work closely with product team, supporting various initiatives including product roll out and onboarding, including evaluating and making decisions/ recommendations

#LI and #IN

Who We Are:

TD Securities offers a wide range of capital markets products and services to corporate, government, and institutional clients who choose us for our innovation, execution, and experience. With more than 6,500 professionals operating out of 40 cities across the globe, we help clients meet their needs today and prepare for tomorrow. Our services include underwriting and distributing new issues, providing trusted advice and industry-leading insight, extending access to global markets, and delivering integrated transaction banking solutions. In 2023, we acquired Cowen Inc., offering our clients access to a premier U.S. equities business and highly-diverse equity research franchise, while growing our strong, diversified investment bank. We are growth-oriented, people-focused, and community-minded. As a team, we work to deliver value for our clients every day.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more (~~~)

Additional Information:

We're delighted that you're considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we're committed to providing the support our colleagues need to thrive both at work and at home.

Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.

Colleague Development

If you're interested in a specific career path or are looking to build certain skills, we want to help you succeed. You'll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. Whether you have a passion for helping customers and want to expand your experience, or you want to coach and inspire your colleagues, there are many different career paths within our organization at TD - and we're committed to helping you identify opportunities that support your goals.

Training & Onboarding

We will provide training and onboarding sessions to ensure that you've got everything you need to succeed in your new role.

Interview Process

We'll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

Your accessibility is important to us. Please let us know if you'd like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.

We look forward to hearing from you!

Language Requirement (Quebec only):

Sans Objet

Federal law prohibits job discrimination based on race, color, sex, sexual orientation, gender identity, national origin, religion, age, equal pay, disability and genetic information.