Vp, Product and Pricing, Life and Health - Toronto, Canada - TD Bank

TD Bank

Verified Company

Toronto, Canada

1 week ago

Posted by:

Sophia Lee

beBee Recruiter

Description

401003BR

Insurance

Toronto, ON

February 24, 2023

Company Overview

Department Overview

TD Insurance (TDI) is part of TD Bank Group (TDBG), one of Canada's largest financial institutions.

TD Insurance helps protect clients from the 'accidents of life' with a wide range of products including credit protection, life, health, travel, home, and auto insurance.

With more than three million clients, TD Insurance authorized products and services are available online, over the phone, and through a network of more than 1,000 TD Canada Trust branches.

In Canada, we have two lines of business, General Insurance and Life and Health. Our General Insurance business is one of the top home and auto insurance groups in Canada and the national leader in group insurance and affinity marketing. Our Life and Health and Credit Protection business is a leader in Digital, Direct Term and Critical illness markets in Canada and a key player in Credit Protection and Travel Insurance.

At TD Insurance, we are committed to fostering an inclusive, accessible environment.

With a Canada-wide workforce of over 6,000 employees and offices in Atlantic Canada, Quebec, Ontario and Alberta, our company is always growing and can help you to grow.

TD Insurance offers more than just a job, we offer rewarding careers.

Job Description:

Reporting to the Senior Vice President Life, Health and Credit Protection, the VP Product Strategy, Management and Pricing is accountable to lead Product Strategy and Management Accountability including Product Design and Development, P&L responsibility, Planning and Portfolio Management for all Life, Health, and Credit Protection Products.

Key Accountabilities:
Oversee the Pricing and Re-Pricing of all existing and new TD Life, Health, and Credit Protection(L&H) products (current product focus: Term Life, Critical Illness (CI), individual A&S, travel insurance, credit card balance protection and Mortgage and loan credit production for Life and CI)
Develop and enhance our products (pricing and product features as needed) and channels to support profitable growth strategies in response to financial analytics
Maintain Pricing Models for Inforce Plans opened for new business Annual Renewal of Group Plans
Grow the business through the development of strategic plans and business cases for new product /market development to best serve the protection needs of TDI and TDBG current and future clients working collaboratively together with peer group, crossfunctional and senior leadership teams
Financial modeling of new initiatives for all L&H products
Champion awareness for market trends and developments by intelligent analysis including active contribution on Industry committees to enable and influence industry changes and provide competitive analytics
Support the execution oversight of approved strategic plans and business initiatives
Influence and meet regulatory and compliance requirements of our existing and new products through management of key risks & oversight of controls
Own the Reinsurance strategy including opportunities to generate earnings and reduce risk; negotiate reinsurance terms (new & renewal), execute treaties, and own the relationship with external parties, monitor Counterparty Credit Risk Exposure to Reinsurance partners
Through product and process, improve the customer and colleague experience while creating value for our customers that aligns with the TD Brand
Identify and execute on process opportunities to reduce operating costs
Attract, develop, motivate, and retain a high performing team
Establish a working environment that fosters diversity and inclusion and drives colleague engagement

Requirements:

Undergraduate degree required with degree in in Actuarial Sciences preferred

Other requirements include:

Proven experience in successfully running an organization with P&L responsibility
Previous experience developing and executing on strategies and delivering superior results in both the short and long term
Proven experience in successfully running an organization with P&L responsibility
Proven ability to manage and motivate a diverse group of professionals
Strong people management skills with demonstrated experience in leading high performing & agile large teams
Highly effective communicator who engages colleagues, business partners, and external stakeholders
Expert presentation and facilitation skills and expert interpersonal and leadership skills to facilitate working with senior management at all levels
Demonstrated relationship building skills, with a superior ability to deliver using positive influence
People leadership is key in this function both the ability to effectively work in teams across the bank with multiple stakeholders and to influence and align others. The proven ability to manage a diverse group of professionals is critical to success in this role
Expertise in working effectively in teams requires a t