Application Deadline:
04/09/2025
Address:
250 Yonge Street
Job Family Group:
Technology
- Process all types of reinsurance transactions on reinsurance system (T.A.I) to ensure that all reinsurance data is accurate and complete
- Provide support in updating reinsurance rates in TAI system; perform thorough testing to ensure the accurate implementation of the new rates
- Analyze and validate reinsurance data using various tools, such as Excel, Access, SQL. This includes performing checks to identify data issues in MS Access and risk of over-retention, resolving data anomalies in a timely matter, and documenting findings
- Assist AVP & Actuary with ad-hoc data requests that involve analysis of large volumes of data
- Participate in special projects (including working with other areas/data analysis/documentation/reporting). This includes projects that could be highly technical and have downstream impacts
- Re-organize treaty documents digitally based on industry standards
- Verify contract ID mappings by performing premium rate checking and comparing other treaty parameters against the policies
- Provide input for continuous improvement of processes and procedures to support effective and accurate reinsurance operations
- Complete monthly process for non-system reinsured policies, including journal entries and payments
- Complete quarterly processes (reconciling ad hoc reports against the reinsurer files, running checks for the accounting extract, creating wire transfer requests and including all backup)
- Provide reinsurance info for reported claims through completing the daily work events
- Assist with ad hoc queries from reinsurers, including audit confirms from reinsurers
- Analyze the direct-side movements in order to ensure reinsurance transactions are inline with Ingenium/Capsil
- Work with internal and external stakeholders with requests for data and data inquiries
- Reinsurance mailbox management
- Ensure Reinsurance Admin Procedures Manual is up-to-date for training, knowledge sharing and standardization of work process
- Develop effective working relationships with reinsurers and local office/colleagues across the organization to ensure all stakeholder needs are met
- Stay abreast of industry technical and business trends through participation in professional associations, practice communities & individual learning
- Strengthen technical skills on working with TAI system by consulting the vendor and relevant training
Qualifications:
- University degree
- 1-4 years of Reinsurance industry experience with a strong understanding of reinsurance terminology, business functions, and processes preferred
- Working knowledge of T.A.I. system preferred
- Detail oriented with strong organizational skills; displays curiosity, creativity, and strong problem-solving skills
- Fast learner
- Ability to work with large/complex data sets
- Strong MS Office skills (including Access)
- Ability to apply basic mathematical concepts
- Basic SQL skills
- LOMA designations (ACS, ALMI, ARA) nice to have
Salary:
$49,000.00 - $90,800.00
Pay Type:
Salaried
The above represents BMO Financial Group’s pay range and type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.
BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards
About Us
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.
Bank of Montreal Toronto, Ontario, CAN Office
First Canadian Place, 100 King Street, Toronto, Ontario, Canada, M5X 1A1
