Chief Financial Officer, Insurance

Builds and sustains a team of direct reports who can deliver the performance required for the group, including coaching and the creation and implementation of training and development plans

Manages the financial reporting and planning processes to serve as effective foundation of effective financial management for the Insurance entities:

Manages the process of monitoring the unit performance against business objectives with the appropriate set of multi-dimensional metrics, and ensures that monitoring approaches are aligned with the requirements of all BMO Wealth Management stakeholders (internal and external)

Provides financial evaluation and analytics in the development and evaluation of strategic plans and associated objectives for the Insurance entities. Actively participate in issue identification and analysis to ensure alignment with BMO Wealth Management and enterprise business strategies

Working in partnership with BMO Insurance’s Appointed Actuary, develops appropriate financial reporting, planning and overall financial management strategies and supporting processes.

Leads and directs the overall financial operations of the Insurance entities, including but not limited to the following accountabilities:

Ensures all reporting requirements are met as required for financial reporting, regulatory reporting and management reporting and that all required accounting entries are completed as required to support business operations

Ensures internal controls, legal entity reporting requirements and regulatory needs are met

Ensures accounting functions are handled effectively and in accordance with policies and procedures

Ensures management that all internal and external audit processes are handled effectively, and that operational accounting systems and subsystems are supporting the business in the most optimal manner

Ensures new products, investments and other financial undertakings are reviewed and vetted prior to integration into a product suite (in conjunction with Marketing, Legal and Actuarial)

Represents BMO Insurance with the Office of the Superintendent of Financial Institutions and other regulatory and industry organizations on company specific or industry matters.

Ensures external audits are managed effectively

Sets expectations for financial governance and stewardship for the Insurance entities, in conjunction with requirements by BMO Wealth Management Finance. Manages the overall attestation process for the Insurance entities.

Leads the planning process for the development of the five-year financial and capital plans by evaluating items and providing financial expertise and analytical support to the Leadership team as required

Supports communication of financial strategy and business results with all stakeholders (internal to BMO Insurance and external parties such as regulators), to manage stakeholder…