Director, Business Development, Pension Risk Transfer

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bmoinsurance

We are seeking an experienced Director, Business Development, Pension Risk Transfer (PRT) to join BMO Insurance’s growing Global Institutional Solutions team. The Director will play an important role in supporting the continued growth of BMO Insurance’s Canadian PRT business, with responsibility for business development, transaction execution, market intelligence and relationship management.

Working closely with the Head of Business Development, as well as actuarial, pricing, investment, legal and other internal partners, the successful candidate will help identify and develop new business opportunities, manage relationships with pension consultants and plan sponsors, support the execution of PRT transactions, and contribute to the development and implementation of the business’s broader growth strategy. The ideal candidate will bring strong knowledge of the Canadian pension and PRT market, excellent commercial judgment, and the ability to manage multiple priorities in a fast-paced transaction environment.

Key Responsibilities

Business Development & Client Relationships

• Support the growth of BMO Insurance’s PRT business by identifying, developing and advancing new business opportunities.
• Develop and maintain strong relationships with pension consultants, plan sponsors and other key market participants.
• Act as a key point of contact for consultants and clients throughout the PRT transaction process.
• Coordinate responses to requests for quotations and other new business opportunities, working closely with pricing and other internal teams.
• Prepare and deliver presentations to clients, consultants and other stakeholders on BMO Insurance’s PRT capabilities and solutions.
• Support broader relationship-development initiatives across BMO by identifying opportunities to deepen institutional client relationships.

Transaction Execution & Structuring

• Support the structuring and execution of PRT transactions, including buy-ins, buy-outs and other customized pension risk transfer solutions.
• Work closely with actuarial, pricing, investment, legal, operations and other partners to coordinate transaction execution.
• Review transaction requirements and client objectives and help develop solutions that balance client needs with BMO Insurance’s business objectives.
• Coordinate internal and external stakeholders throughout transactions to help ensure deadlines, deliverables and client expectations are effectively managed.
• Support negotiation of commercial and transaction terms with consultants and clients.

Market Intelligence & Strategy

• Monitor Canadian PRT market activity, emerging trends, competitive dynamics and new business opportunities.
• Maintain market and transaction intelligence, including sales activity, market share, competitive positioning and pipeline information.
• Prepare regular reporting and analysis to support business planning and senior management decision-making.
• Identify opportunities to improve BMO Insurance’s competitive positioning, client proposition and business development strategy.
• Contribute to strategic initiatives designed to support the continued growth and evolution of the PRT business.

Relationship & Stakeholder Management

• Build and maintain effective working relationships with key internal partners across BMO Insurance and the broader BMO organization.
• Develop strong external relationships across the Canadian pension industry, including consultants, plan sponsors and other market participants.
• Coordinate with reinsurance partners, where applicable, in support of transaction opportunities and broader business objectives.
• Represent BMO Insurance at industry events, conferences and other market-facing activities.

Business Development Infrastructure

• Maintain and enhance business development tools, pipeline reporting and market intelligence.
• Support the development of client presentations, marketing materials, thought leadership and other business development content.
• Help develop and improve processes that support efficient management of new business opportunities.
• Contribute to forecasting, business planning and reporting on sales activity and business development performance.

Qualifications:

• Professional actuarial designation (FCIA/FSA) or equivalent relevant experience in pensions, insurance or financial services.
• Approximately 7+ years of relevant experience in Canadian pensions, pension consulting, insurance, actuarial consulting or financial services.
• Strong understanding of Canadian defined benefit pension plans and the Canadian pension risk transfer market.
• Experience working on complex financial transactions and managing multiple stakeholders.
• Strong commercial judgment and an ability to understand both technical and client considerations.
• Excellent written and verbal communication skills, with the ability to communicate effectively with senior internal and external stakeholders.
• Strong analytical, organizational and project-management skills.
• Demonstrated ability to operate effectively in a fast-paced environment and manage multiple concurrent transaction opportunities.
• Ability to work collaboratively across actuarial, investment, legal, operations and other functional teams.
• Existing relationships within the Canadian pension consulting and/or pension industry would be considered an asset.
• Bilingualism in English and French would be considered an asset.

You're fluent in French and English to support business operations outside the province of Quebec.

Salary:

Pay Type:

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.