Insurance Associate

02/22/2024

Address:

60 Yonge Street

Wealth Sales & Service

Risk Management
• 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

Scope and Impact
• Manage telephone inquiries as required
• Daily processing of simple and complex changes and transactions
• Inaccurate information provided to external customers carry unlimited financial risk

Cross Functional Relationships
To Internal Departments
• Request information to support policyholder requests
• Provide information and calculations to Claims for payout
• Partner with Agency dept to ensure accurate compensation calculations for special requests
• Coordinate with Finance/accounting receipt of daily deposits and issuance of daily disbursements
• Coordinate with Actuarial for special needs/tax calculation/illustrations
• Manage replacement process to ensure timely coordination of risk

Mandate
The Client Services Representative is accountable to manage all customer service inquiries from managing general agencies (MGAs), brokers and policyholders to support BMO Life Assurance. Customer service inquires may be received from phone, e-mail and written mail. Quality and professionalism is the key when responding.

Customer Service
• Provide accurate and professional service to MGAs, brokers and policyholders by telephone, mail or e-mail including, but not limited to, the following activities:

• Answering client/broker inquiries & provide accurate information about BMO Life Assurance products

• Run simple in-force illustrations.

• Requesting information from internal departments to ensure the accurate and timely production of related information for policyholders/brokers.

• Responding to policy information requests from beneficiaries, families of policyholders, funeral directors, government agencies, lawyers and follow established protocols.

• Performing required administrative tasks simple and complex for clients

• 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 AML guidelines to meet OSFI audit requirements

• Responding to and resolving client issues and escalating, if required.

• Process client service requests according to established guidelines

• In-depth knowledge of all system applications used to administer products and serves i.e. CAPSIL/INGENIUM

• Follow established procedures in all communications with clients - by phone, e-mail or written - to ensure that compliance requirements are met for all scenarios
• Create and maintain computer records on all systems to ensure accuracy of client information

Knowledge
• High School Diploma or equivalent
• 3 - 5 years insurance industry experience in a customer service role
• LOMA 1 and 2 designation mandatory, working towards ACS. FLMI an asset.
• In-depth knowledge about products, process, policies and practices
• Working understanding of policy contract wording & interpretation
• Familiar with compliance and anti-money laundering requirements
• English/French bilingualism an asset
• Working knowledge of INGENIUM/CAPSIL

Skills
• Customer Service (In-depth)
• Communication skills (In-depth)
• Organizational skills (in-depth)
• Attention to detail(In-depth)

Scope of role

• Handle the processing of customer service inquiries, including the more complex products and taxation.
• Handle other customer service inquiries as assigned.
• Manage telephone inquiries as required

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://jobs.bmo.com/ca/en.

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.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.