Director, Portfolio Management
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Job ID : 6163
Category : Personal Insurance
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Montreal, Canada
Definity includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. With strong roots that date back to 1871, we’ve grown to become a digital leader in the insurance industry. We’re proud to help our clients and communities adapt and thrive in a world of constant change.
Our promise to you: It’s better here. Why? Because we CARE, and we provide an employee experience that’s collaborative, ambitious, rewarding, and empowering.
Our ambition is to be one of Canada’s leading and most innovative P&C insurers. Come be a part of our journey, and love what you do.
Definity offers a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Leaders partner with their teams to find the right balance of on-site and remote work that best meets the needs of their teams, colleagues, brokers and customers, while ensuring collaboration, teamwork and accountability for goals.
Director, PI Portfolio Management will play a fundamental role within the newly formed Personal Insurance Portfolio Management team to ensure that Economical, as a public company, will reach its Personal Insurance portfolio objectives and commitments to its investors.
Reporting directly to the Assistant Vice-President, Portfolio Management for Personal Insurance, this critical position is accountable for ensuring that the short and long term portfolio strategy for their respective portfolios as part of both Broker and Sonnet portfolios are achieved by developing portfolio targets, monitoring portfolio performance against those targets and identifying corrective actions or initiatives in collaboration with Pricing, Underwriting, Regional Operations and Business Development to close the gaps or variance to the portfolio plans. This would also include identification of product lines, customer segments or territories that are underperforming, analyzing the reasons for it and working closely with stakeholders to implement potential solutions.
This position is accountable for developing the annual portfolio plan for their respective portfolio or portfolios and would also be monitoring and interpreting market actions by competitors and regulatory changes that impact the respective portfolio or portfolios. The role will ensure that the annual portfolio plan aligns back to the annual financial plan.
The position will lead and facilitate a portfolio review process on a monthly basis to monitor variances to the portfolio and financial plans for the respective portfolio or portfolios.
This position will also work closely with the Assistant Vice-President of Portfolio Management to develop a portfolio strategy statement for the respective portfolio or portfolios that aligns back to the longer term (3 – 5 year) portfolio strategy of the organization.
This position will report to the Assistant Vice-President, Portfolio Management for Personal Insurance and will provide advice on how to improve performance and mix of business.
What can you expect in this role?
- Work closely with the Assistant Vice-President, Portfolio Management to develop a strategic long term portfolio plan for the respective portfolio and portfolios through a strategy statement process and then developing the annual portfolio plan which aligns back to the financial targets of the organization’s operational plan
- Responsible for the analysis, understanding and oversight of the respective portfolio or portfolios in Personal Insurance. The role will develop a reporting cadence with key stakeholders to quicky and effectively take actions or initiatives to course correct. The role will also be responsible to assess concentration of risks.
- Responsible for presenting monthly and quarterly findings to senior executives and stakeholders. Strong communication and presentation skills are required.
- Responsible for the development of the portfolio segmentation and set internal targets for their respective portfolio or portfolios, monitor the achievement of these targets, identify gaps and collaborate with partners to close the gaps to those targets.
- Leverage models developed by MPA-Advanced Analytics Models using the most advanced modeling technics and internal/external data to better assess on all risks trying to get insurance with Economical, Sonnet and Family.
- Collaboration with partners such as Pricing, Underwriting, Corporate Actuarial, PI Operations, Business Development, etc. to identify gaps in our actual results vs plan, and to evaluate and implement potential solutions to recover these gaps.
- Work and collaborate with MPA/Advanced Analytics teams on enhancing our third-party data models to maximize our benefits such as MVR, autoplus, credit score, Iclarify, etc.
- Own the development and monitoring the reports on the results of market competitiveness for Pricing, Product and Underwriting for the respective portfolio or portfolios.
What do you bring to the role?
- University Degree or College Diploma in a relevant program. CIP, FCIP, and / or CRM designations are advantageous. Proven record of analytical expertise.
- At a minimum 10 years of relevant, full-time property & casualty insurance experience is required with at least 5 years’ experience managing or leading a team.
- Strategic thinker with strong analytical and project management / organizational skills.
- Consistently demonstrates leadership characteristics and can make well-informed, effective, and timely decisions
- Strong communication and presentation skills
- Strong negotiation, persuasion, and facilitation skills to help manage ongoing project delivery efforts with a wide range of stakeholder group
- Self-motivated and consistently demonstrates an ability to take initiative on any issue
- Professional, collaborative, and courteous in all interactions with peers and stakeholders
We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.
Go ahead and expect a lot — you deserve it, and we’ve got it:
- Hybrid work schedule for most roles
- Company share ownership program
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and company matching on charitable donations
- Educational resources, tuition assistance, and paid time off to study for exams
- Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
- Wellness and recognition programs
- Discounts on products and services
Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting: [email protected]
This role requires successful clearance of a background check (including criminal checks and leadership references).