Purpose of Job
Reporting into the National Head, Insurance Lending & Wealth Solutions, the primary purpose of the BDM is:
•Proactively build out 1:1 relationship with Advisors and establish a firm relationship to grow the business. This includes educating them on the Bank’s Insurance Lending offer and the benefits of incorporating Insurance Sales in to the Advisor business.
•Represents the Insurance Sales business as an expert consultant in matters related to the insurance world, the credit industry, product, regulatory and advice on insurance sales product solutions.
•Creates customized solutions by providing advice to meet the customers financial objectives
•Partners with advisor to grow their book of business and revenue through Insurance Sales and cross-selling opportunities.
•Deliver bottom line Insurance Sales growth by meeting and exceeding sales objectives
•Develops a strong working relationship with their Internal Support Associate
•Ensures adherence to the processes & procedures in place for the EQB Insurance Sales process
•Follows all compliance and regulatory guidelines to ensure risk is mitigated and controlled
Productivity targets will be set at the beginning of each business year, and the National Head, Insurance Lending & Wealth Solutions will collaborate on related activity to ensure that these goals are met.
The BDM must be highly knowledgeable about both Equitable Bank’s product suite, as well as the broader advisor channel in order to generate prospective leads and/or partnerships. This position requires exercising independent judgment to perform the responsibilities described herein.
KEY DELIVERABLES AND RESULTS:
Drive Sales Objectives (Deal and Sales Targets):
- Proactively builds 1:1 relationship with Advisors to educate them on the benefits of incorporating Insurance Sales into Advisor business
- Build out a yearly sales plan and approach to drive performance against deal & sales targets by:
- Participating in Monthly/Quarterly/Annual Campaigns to drive sales growth and activity and leverage marketing materials; ensure Advisor participation, log information in Dynamics etc.
- Expanding the referral network within a specific region to drive awareness of and sales growth in Insurance Sales
- Deliver industry leading advice and solutions to clients to help them fulfill their overall financial plan
- Help advisors identify opportunities in their book to help grow their business and revenue (future focus - focus on Advisor Segmentation plans)
- Create cross-sell opportunities by building and maintaining collaborative relationships with advisors, brokers and wholesaling partners
- Delivery of an exceptional client and advisor experience
Educating Advisors, Clients and wholesaling partners on Insurance Sales:
- Host educational meetings with advisors to encourage referrals and provide information on Insurance Sales Products
- Host regular meetings with advisors
- Build strong relationship management with Internal Case Associate
- Focus on ensuring professional communication and adherence to service level agreements (this includes both external (advisors and clients) and internal (U/W, Internal Associate)
- Delivery of an exceptional client and advisor experience
Adhere to Activity and Compliance requirements:
- Adherence to processes and procedures that relate to the EQB Insurance Sales Process
- Efficiency scorecards (Future Focus)
- Dynamics Activity Management (meeting thresholds)
- Proper deal packaging
- Develop and maintain a compliant environment and adhere to all processes and procedures that relate to AML / ATF
Knowledge/Skill Requirements:
- Bachelor’s degree in a field such as Commerce, Finance, Business Administration, Economics;
- 3-5 years with prior sales / relationship management experience in the financial services industry, with familiarity in advisor practice management (Previous inside sales experience preferred)
- Successful completion of industry related courses such as CSC, IFIC, CFP, CIM, CFA (or working towards completion of industry related courses) is preferred
- Existing connections with financial advisors, investment advisors, and financial planners
- Strong written and verbal skills. Bilingual: French and English is desirable
- Proficient on Microsoft Office – Word, Excel, and Power Point
- Self-directed and highly organized individual who can multi-task
- Mature, confident, personable, professional presence
- Strong presentation skills with a wide range of audiences
