Director, Portfolio Management

Definity is the parent company to some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.

We offer 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. Bring your true self and be a part of our journey. It’s better here.

What can you expect in this role?

Director, PI Portfolio Management will play a fundamental role within the 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.

• 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 is able to make well-informed, effective, and timely decisions 
• Strong communication and presentation skills                                                   
• Strong negotiation, persuasion, and facilitation skills in order to help manage ongoing project delivery efforts with a wide range of stakeholder groups                                  
• 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.

Salary range: $97,000 - $178,800

Interested in this role, but don't meet every requirement? We encourage you to apply! We know from experience that a candidate doesn't need 100% of the qualifications listed to bring incredible value to our team. We're actively seeking diverse backgrounds and perspectives to help us make insurance better. At Definity, inclusion, diversity, and equity aren't just "nice to have" — they're essential to our success.

What's in it for you?

• 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

Actual salary for the role may vary depending on work location of the successful candidate and other factors including but not limited to, skills, education, experience, working conditions and the local labour market.  In addition to base pay, eligible employees may participate in various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.

Go ahead and expect a lot — you deserve it.
It's better here — but don't take our word for it. Definity was named by Great Place to Work® as one of the Best Workplaces™ in Canada for women, for youth, and for inclusion.

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].

Background checks
This role requires successful clearance of background checks (including criminal checks and leadership references).

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