Product Analyst

Foresters Financial • Toronto, ON

67d • $64,000 - $84,000 • Hybrid

About The Position

The Product Analyst supports product development (new product and existing products) for US and Canadian products by analyzing, developing, designing, solutioning and supporting the product management function. The product analyst develops, maintains, implements and manages product specifications, rules, rates and training for new and existing products, enhancements and related functions including projects and day to day operations.

Requirements

• University degree or college diploma
• LOMA designation or other industry accreditation
• 5-10 years' experience in operations, actuarial, product, or business analysis roles
• Strong life insurance background and technical writing or legal background an asset
• Attention to detail and strong analytical, writing, and communication skills are essential
• Knowledge of US and/or Canadian life insurance and annuity products and regulations.
• A broad understanding of Foresters products, functions and systems are an asset
• Functional knowledge of the product development life cycle (such as product concepts/definition, planning, estimating, requirement gathering, analysis and testing) from plan conception to product launch and post launch
• Strong knowledge of building and maintaining products on the administration system, including contracts, calculations, product rules and rate structures
• Ability to multi-task and prioritize to meet deadlines in a demanding, fast-paced environment
• Excellent facilitation and interpersonal skills with the ability to work independently
• Commitment to a strong culture of ethics, compliance and risk identification and management
• Willingness to learn new concepts and technologies, adapt to changes and demands as it relates to product design, development and implementation
• Ability to assess impacts on business processes and product development/management processes

Nice To Haves

• Paralegal background an asset
• Strong life insurance background and technical writing or legal background an asset
• A broad understanding of Foresters products, functions and systems are an asset

Responsibilities

• Research, draft and refine insurance contracts and regulatory forms, including applications, to ensure compliance, clarity and consistency with product plan design and regulatory requirements
• Use product and regulatory knowledge to support regulatory filings and approval functions including review of filings, objections and interpretation of regulatory requirements. This includes seeking opinions/assistance from several levels of management, business, legal and/or peers
• Support product initiatives and enhancements by evaluating and applying industry and Foresters specific knowledge and industry best practices within the Product Development life cycle
• Use product, regulatory and process knowledge to support projects, enhancements, day to day operations, inquiries related to product rules and process and improving processes and procedures, while ensuring product integrity and regulatory compliance are met
• Participate in various stages of quality assurance testing of the product rules including review of test criteria, contract content and data validation, processes and system changes
• Collaborate with key stakeholders, subject matter experts and project team members in defining functional, and business process improvements and providing recommendations to allow key stakeholders to make sound decisions

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level