Manager, Group Underwriting & Contract Administration
- Employer: iA Financial Group
- City: Vancouver
- Job category: Business Administration, Finance and Accounting, Leadership and Management
- Job ID: J0118-1000
- Job type: Regular full time
Company OverviewiA Financial Group is the fourth largest life and health insurance company in Canada and offers a wide range of products for all stages of life and to meet the needs of clients across its vast sales network. Founded in 1892, iA Financial Group’s stability and solidity make it an employer of choice that invests in its employees and their development over the long term.
With operations across Canada and in the United States, iA Financial Group and its over 5,000 employees work hard every day to offer the best service to over four million clients.
Purpose and Accountability
Reporting to the Director, Actuarial & Underwriting, the Manger, Group Underwriting & Contracts Administration (the Manager) is responsible for leading, developing and training the Group Underwriting & Contracts Administration team (the Team). They must develop team and departmental processes to maximize efficiency and ensure that the team provides a consistently high level of service and support to our sales staff, brokers and group policyholders to meet Special Markets Solutions’ (SMS) objectives.
This role’s scope is broad and diverse. It’s a leadership role which also covers proposals, new business implementation, renewals, contract administration, compliance and marketing support. An overview of each area is explained below:
The incumbent is responsible for supervising, training, supporting and coordinating the workflow of the Team (8 people). The Team serves as the central point for receiving all requests from sales staff, brokers and group policyholders. The Manager takes the lead and involves other SMS teams as required to complete requests in a timely manner. The Manager will delegate, coordinate and supervise all team responsibilities, ensuring accurate, efficient handling of all tasks within the required deadlines.
For all proposals, the Manager oversees the process from start to finish. This includes collaborating with all other SMS teams on complex client inquiries, claims and admin issues. The Manager will personally review and complete complex questionnaires and prepare proposals for large groups. This includes conducting in-depth analysis and preparing a summary report to present to senior management.
New Business Implementation
For newly-placed groups, the Manager oversees the new business implementation process. The Manager reviews the work of analysts and senior analysts to ensure that all appropriate information has been received and that implementation meetings are planned with the respective SMS teams. In complex cases, the Manager will serve as a project manager to ensure an action plan is created, the necessary stakeholders are involved and all issues are resolved in time to set-up the new group.
For all renewals, the Manager oversees the process and provides guidance to team as required. The Manager oversees renewal evaluations and makes decisions about whether rates can be increased, held, or reduced based on premiums and claims history. In addition, any requests for policy changes during the policy year are discussed with the Manager in order to make sound decisions. For complex requests, the Manager must research, analyze and present their recommendation to Director, Actuarial & Underwriting.
For all contractual and legal documents produced by the team, the Manager oversees the process. The Manager is responsible for collaborating in the development and maintenance of group policy contract templates. The group insurance plans are of highly complexity and 90% to 95% are non-standard benefits with customization; therefore, a high level of attention-to-detail and accuracy is required. The Manager is responsible for providing final sign-off before documents are sent to the group policyholder.
The Manager ensures that the Team is compliant with provincial and federal legislation as it pertains to group insurance. They review the Team’s processes and evaluate the Inherent Risk and Residual Risk and create an action plan to address any areas of concern. The Manager must ensure guidelines set out by the Canadian Life & Health Insurance Association (CLHIA) are followed. They must stay up to date with industry trends to foresee and address challenges which affect product and process decisions. Another area of the compliance responsibility for the Manager is the oversight of all Third Party Administrators (TPA).
The Manager provides input to the Marketing team on related brochures, applications, rate cards, websites and special Direct-Marketing campaign material. The Manager ensures all marketing material complies with policy-specific contract provisions, administration and underwriting requirements, company guidelines and applicable legislation.
• bachelor’s degree; in the absence of a university degree, 8-9 years of Group Insurance work experience
• FLMI designation from LOMA
• 5-7 years of Group Insurance work experience
• a minimum of 3-4 years of experience as a supervisor/manager
• thorough knowledge of group insurance terminology, benefits and contract provisions
• knowledge of industry guidelines, legal requirements and restrictions governing group benefits
• excellent organisational skills
• the ability to multi task and manage a high volume of complex, diverse functions
• exceptional written and verbal communication skills
• strong interpersonal and coaching skills
• the ability to work well under pressure and manage stakeholder expectations
• analytical with excellent problem solving skills
• the ability to make decisions quickly and accurately
• sound knowledge of Word and Excel
iA Financial Group is committed to having an equal access employment program and welcomes applications from women, visible minorities, Aboriginal peoples and disabled persons. Any use of the masculine form is to simplify the text and includes the feminine form.