Director Insurance Partnerships, IB

Requisition ID: 224036 Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. Purpose The Director Insurance Partnerships – International Banking, leads and oversees the day to day management of the Bank’s strategic partnerships ensuring they are aligned to retail business strategies, objectives, plans and initiatives. Accountabilities

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Identifies, establish and manages strategic partnerships that improve the insurance value proposition in key segments across IB markets.
• Ensures that partners drive a profitable business growth and meaningful contribute to primary client relationships.
• Ensure that all partners retain a minimal B+ AM Best rating and/or a rating at a similar level of a comparable standard. Ensures that culture and values of our partners are aligned with those of Scotiabank
• Negotiate and advises management on partnership agreements, including terms, pricing and revenue sharing models always ensuring alignment with the retail/insurance business objectives.
• Has a deep understanding of the banks retails strategy, develop and maintain strong relationships with key stakeholders such as retail product, distribution and segment teams at a local and HO level.
• Work closely with teams in country to understand the competitive landscape and product needs for each segment and tailors partnership offers to ensure innovative, competitive and value-added offers are proposed.
• Track and analyze partnership performance. Provide regular reports and measures performance against targets. Takes timely action when performance is below agreed and set expectations and provide recommendations for optimization.
• Work in close cooperation with in-country teams to ensure a successful implementation and integration of partnership initiatives.
• Develop in collaborate with distributions team in HO and country, marketing and sales campaigns and promotional activities to maximize the value of partnerships.
• Stays updated on industry trends, regulatory changes, competitive landscape in markets. Timely identify and advise on new opportunities to build and maintain a competitive edge
• Represent the IB insurance intermediaries across our footprint, build brand awareness.
• Works closely with legal and compliance and ensures that contracts for partnerships are in place and ran through our Third Party Risk assessment process
• Oversee the partners’ global and country-specific initiatives execution ensuring they are aligned to business strategies; and are delivered in compliance to contractual terms and conditions, Scotiabank policies, sales principles and procedures.
• Contribute to the development of partners key performance indicators to drive accountability for desired business results.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day 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

• 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