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    Associate Director, Insurance Risk - Toronto, Canada - Royal Bank of Canada>

    Royal Bank of Canada background
    Description

    Job Summary

    Job Description

    What is the opportunity?

    The Insurance Risk & Oversight role is responsible for providing independent and objective oversight on insurance policies with the focus on permanent products such as Universal Life and Whole Life policies by obtaining information gathered from researching with the insurance companies/EPS teams and within the WMFS CRM system. Proactively investigate and clearly communicate issues identified as a result of surveillance monitoring activities to Agent of Record (IA/IC) and Servicing Advisor (EPS).

    What will you do?

    • Responsibility to create, contribute to and execute the vision, strategy of risk and suitability.
    • Conduct Insurance policy surveillance, suitability verification, issue tracing and closure, and trend analysis of its registered representatives.
    • Promptly investigate and clearly communicate issues identified as a result of surveillance monitoring activities.
    • This will include on taking the lead to educate and communicate key aspects of surveillance/risk and what it entails on shared responsibilities and servicing to the DS/PH&N Agent od Record representatives.
    • The role works closely with the WMFS VP & Regional Sales Manager Team, in implementation on risk and management practices.
    • In partnership with the WMFS Internal Controls & Compliance construct the approach to coach and share best practices with DS/PH&N Agent od Record representatives.
    • Working closely with the operations partners such as New Business, inforce and technology team to improve efficiencies and ensure suitability has been put in place.
    • Direct implementation on core risk programs and practices to ensure complete risk management, support and monitor requirements, escalating concerns where required.
    • Be able to identify trends and direct research into areas where needed to bring awareness of further risk and how to mitigate future risk.

    What do you need to succeed?

    • You will have in-depth knowledge and experience in a broad range of Life Insurance products and services offered by RBC WMFS, with a strong understanding of regulatory requirements as they impact business activities, including regulatory and industry trends.
    • Stay current with industry and regulatory knowledge and expectations through continued education.

    Must haves:

    • Need to be Life Insurance licensed or obtain license within six months.
    • Hybrid role – stationed at Toronto office.
    • Minimum 5-7 years of experience in Life Insurance Industry
    • Travel for business at 25%

    What's in it for you?

    We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

    • A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable.
    • Leaders who support your development through coaching and managing opportunities
    • Ability to make a difference and lasting impact.
    • Work in a dynamic, collaborative, progressive, and high-performing team.
    • Flexible work/life balance options.
    • Opportunities to do challenging work.
    • Opportunities to take on progressively greater accountabilities.
    • Access to a variety of job opportunities across business.

    Job Skills

    Communication, Financial Instruments, Fraud Risk Management, Long Term Planning, Operational Risks, Project Management, Risk Control, Risk Management

    Additional Job Details

    Address:

    RBC CENTRE, 155 WELLINGTON ST W:TORONTO

    City:

    TORONTO

    Country:

    Canada

    Work hours/week:

    37.5

    Employment Type:

    Full time

    Platform:

    Wealth Management

    Job Type:

    Regular

    Pay Type:

    Salaried

    Posted Date:

    Application Deadline:

    Inclusion and Equal Opportunity Employment

    At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
    ​​​​​​​
    We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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