Company: Scotiabank

Location: Toronto, ON

Expected salary:

Job date: Sun, 11 May 2025 05:24:54 GMT

Job description: Requisition ID: 225311Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.PurposeThe Director of Insurance Distribution – Global Insurance, leads the distribution strategy of insurance products for IB retail and small business through all channels. This role is critical in driving growth, market expansion and client acquisition through all distribution channels. The Director ensures alignment with the bank’s strategic objectives and international retail banking goals and collaborates closely with senior leadership, sales, marketing, and product teams to ensure alignment in business objectives and deliver a seamless, profitable distribution model. The Director develops and executes strategies that deliver results, ensuring compliance with regulations, policies, and procedures.Accountabilities

• Develops the insurance distribution strategy across all channels in collaboration with local and regional distribution teams.
• Establishes priorities, leads initiatives, and builds relationships with key distribution partners (Branch, Digital, Contact Centers including third parties)
• Build partnerships with IB management teams to influence management engagement and garner support for Insurance business growth.
• Motivate and enable the distribution teams, constantly evaluating performance and refining strategies for continued effectiveness and efficiency
• Lead client-centric and holistic coaching, and provide training programs and advisory tools to distribution teams that drive growth and increase client primacy, while enhancing their knowledge and advice skills to improve the client experience
• Partner with local insurance leads and IB Retail in sales, profit planning, and forecasting at regional and local levels, setting ambitious yet realistic targets for the different countries and territories.
• Partner with distribution teams at head office and country levels, as well as external partners, to create marketing campaigns and promotional activities aimed at enhancing and maximizing outcomes.
• Collaborate with channels and partners like Cardif to assess market potential, identify product gaps, and find opportunities for each segment.
• Understand clients’ insurance needs and collaborate with IB retail teams and the HO Insurance Director to maintain a relevant insurance proposition in client conversations across all channels.
• Following our risk and sales practices policy, and collaborating with Insurance head and local teams, ensure incentives for insurance sales are balanced, drive the right behavior and required productivity.
• Ensures all sales roles, executives, or specialists drive profitable business growth and contribute to primary client relationships meaningfully.
• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Possesses a comprehensive understanding of the bank’s retail strategy and develops and maintains strong relationships with key stakeholders, including retail product, distribution, and segment teams at both the local and head office levels.
• Keeps up with industry trends, regulatory changes, and market competition. Identifies and advises on new opportunities to stay competitive.
• Consider the Bank’s risk appetite and culture in everyday activities and decisions.
• Creates an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team.

Education / Experience / Other Information

• University degree in Business or Marketing or relevant insurance industry designations or several years’ experience. MBA, MA in Marketing desired.
• Spanish fluency is required.
• Expert understanding of the Insurance industry and in-depth knowledge of Insurance regulations and industry dynamics in countries.
• Thorough understanding of Insurance business, products, profitability, services, operations, systems and practices.
• To complement the required knowledge and experience indicated above, the incumbent must also possess strong strategic, analytic, communications and business line management skills.
• Strategic influencing across business lines and geographies is required. The incumbent requires well developed interpersonal capability to operate through a matrix management model across geographic markets, business lines and functional areas. The incumbent requires the capability to build strategic relationships often at a geographical distance from key partners within the diversity of various markets and to collaborate with wide range of groups (business lines, country management, support groups) to engender trust and broad support of initiatives.
• Excellent communication skills and strong negotiating skills to enable third-party business engagement mainly Insurance and Assistance product underwriters and manufacturers for optimal design, service delivery and pricing.
• The position requires analytical and creative problem-solving skills to apply the insurance and financial services know-how to diverse markets.
• Leadership, coaching and team building skills to facilitate each team member’s professional growth and development which in turn helps to create a strong and committed team that enables the successful implementation of initiatives across all business lines and subsidiaries.
• Excellent presentation skills

Location(s): Canada : Ontario : Toronto || Mexico : Ciudad de México : MexicoScotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please . Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.

Position Summary for Director of Insurance Distribution – Global Insurance

Requisition ID: 225311

The Director of Insurance Distribution is responsible for leading the strategy for distribution of insurance products aimed at retail and small business clients. This role focuses on driving growth, market expansion, and client acquisition through various channels while aligning with the bank’s strategic objectives. Key responsibilities include:

• Strategy Development: Create and implement the insurance distribution strategy in collaboration with distribution teams.
• Partnership Building: Establish relationships with key distribution partners and internal management teams to support business growth.
• Performance Evaluation: Motivate distribution teams, assess performance, and refine strategies for efficiency.
• Training & Development: Provide coaching and training to enhance the skill set of distribution teams and improve client experiences.
• Market Engagement: Collaborate with local and international teams in sales planning and execution, setting realistic targets.
• Marketing Initiatives: Partner with internal and external groups to devise effective marketing and promotional campaigns.
• Client Insight: Understand client needs and maintain a relevant insurance proposition across channels.
• Risk Management: Ensure compliance with regulations and drive sales incentives that foster the right behaviors.
• High-Performance Environment: Build and maintain a motivated, inclusive team, supporting professional growth.

Qualifications:

• A degree in Business or Marketing; MBA preferred.
• Fluency in Spanish.
• Extensive knowledge of the insurance industry and relevant regulations.
• Strong strategic, analytical, and communication skills.
• Proven leadership and team-building abilities.

Location: Toronto, Canada or Mexico City, Mexico.

Scotiabank is committed to inclusion and accessibility in its hiring process. Candidates interested in this position should apply online, with accommodations available upon request. Only selected candidates will be contacted for interviews.