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Address:60 Yonge Street
Job Family Group:Customer Shared Services
The Bilingual New Business Associate is accountable to provide excellent customer service by processing all aspects of life insurance applications for both Advisor and Direct to Consumer channels, from case set-up to policy contract issue and settlement, within established service standards. Producing high quality work is essential to this position.
This position is the first line of customer service for BMO Insurance. The incumbent must display a strong sense of professionalism as well as superior customer service skills to ensure the best possible experience for our clients. The candidate must be fully bilingual in English and French.Accountabilities
Process life insurance applications for both Advisor and Direct to Consumer channels in an efficient manner to meet service level standards for New Business
Issue and settle policy contracts in an efficient manner to meet service and quality level standards
Address customer services issues according to established parameters, escalating as required to the Manager, New Business for resolution. Demonstrate sound judgement in the handling of customer interactions and appropriate escalation to management
Understand and follow established policies and procedures in the processing of new business applications, issuing and settling of policy contracts
Exhibit a strong sense of broker partnership and commitment to service, and carry out functions with an extremely high sense of urgency
Investigate and resolve inquiries from the field and other team members related to specific cases
Collaborate with Underwriting and Underwriting Support staff to exchange information and facilitate an efficient decision by the underwriter
Effectively communicate with field representatives to obtain any outstanding requirements
Provide accurate and professional service to MGAs, advisors and policyholders by telephone, mail or e-mail including, but not limited to, the following activities:
Answering advisor inquiries to provide accurate information about BMO Life Assurance applications
Run policy illustrations to verify premium calculations are correct
Liaise with internal departments to ensure the accurate and timely exchange of information
Performing simple and complex New Business administrative tasks, as required for the processing of insurance applications
Managing time sensitive financial transactions which requires understanding of market timing and the impact of backdating
Understanding the impact of the movement of money within the organization as it relates to GAAP and AML guidelines to meet OSFI audit requirements
Adhere to all aspects of First Principles our code of Business Conduct and Ethics including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities
Accuracy and timeliness of the work completed by this role is critical to BMO Life Insurance’s reputational risk
High school diploma
University/College graduates preferred
Completion of introductory LOMA courses (LOMA 1 and 2) preferred
Working knowledge of life insurance products, particularly Universal Life, Traditional Life and Critical Illness product features, and channels
1-2 years’ experience in Life Insurance; New Business or Customer Service area preferred
In-depth knowledge of all systems used to administer cases an asset; including INGENIUM, WinRisk, CAPS-I-L, NUMS, Work Management and Digital Library FileNet
Strong customer service orientation
Ability to effectively multi-task
Ability to handle high pressure situations with very tight turnaround requirements
Excellent English Written and Oral Communication skills
Fluently bilingual in French and English
Excellent organization skills
Productivity focused: Able to consistently process a high volume of tasks on a daily basis
Ability to make sound transactional decisions in accordance with policies and directives
Proficient with Microsoft Office (Word, Excel)
Scope and Impact
Role is responsible for issuing BMO Life Assurance contracts. Accuracy and timeliness is of utmost importance and directly impacts the organizations reputation and continued sales.
Submit new applications within 24hrs of receipt; 2% error tolerance
Issue contracts within 24hrs of underwriting decision; 2% error tolerance
Submit for set-up, issue and settle ~200 - 300 applications per month; within 2% error tolerance
Monitor emails and respond within 24hrs
Process Closures within 36hrs
Involved in peer quality checking to ensure correctness
We’re here to help
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://bmocareers.com.
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
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