Manager, Ancillary Products

Manager, Ancillary Products

MCAP at a Glance

Joining MCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success! At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering, a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.

The Role

This position will be responsible for assisting in the development, management, and analysis of new/ existing products, services and Strategic Initiatives to effectively contribute to the achievement of the company's business and strategic objectives.

Product Management for non-Mortgage Products

• Responsible for developing financial models for business cases, forecasting and determining the viability of business plans specific to insurance and warranty programs as required for Senior Executive review and analysis.
• Be the subject matter expert in the Creditor Insurance, Home Warranty, and Property Taxes business in terms of product management, financial structure, legal and regulatory requirements.
• Develop an in-depth knowledge of the external market and customer base for the various non-mortgage products.
• Responsible for forecasting and monitoring performance to ensure sales and revenue objectives are on plan and meet targets.
• Provide tactical recommendations to help achieve business plan objectives.
• Educate business units on new product details, features, processes, etc.
• Be the first point of contact for Sales, Operations, and IT to address product or operational issues.
• Be the first point of contact with vendors, such as Canada Life and Assurant Canada.
• Monitors and audits sales activity to identify areas for opportunities for improvement and increased sales volumes.
• Creating and updating guidance documents/training material to assist agents in sales conversations with borrowers.

Development and design of new/existing Products

• Based on industry knowledge and in-depth understanding of insurance products, proactively develop strategies and programs for new and existing products to improve growth and revenue.
• Identify, evaluate and lead research and analysis such that an idea/concept /strategic initiative can be scoped out.
• Ensure products are competitively positioned, profitability maximized, and existing and future customer needs are met.
• Influence and collaborate with Senior Management and business units to gather support for execution and implementation of new products, programs and initiatives.
• Perform trending analysis on all products after launch in terms of volume/profitability / sales channel.
• Perform on-going evaluation of product performance relative to expectations.
• Design, develop and implement financial models designed to determine quarterly and annual cash flow statements estimates to project cash flow and earnings over a particular project investment horizon.
• Collaborate with finance to verify accuracy of information and ensure proper accounting treatment has been utilized.
• Regularly reviews and implements improvements to processes and analysis as necessary.

Planning, Resources, and Budgeting

• Participate in the planning and budgeting process.
• Contribute to group objectives / strategies.
• Ensure proper quality controls and data integrity are in place.

Market Research / Analysis

• Keep abreast of the relevant products / services being offered in the marketplace (both nationally & globally), such that the business unit can identify gaps or opportunities to expand upon MCAP’s existing product line-up.
• Analyze the information obtained above to see if it fits in within our Single Family Product Strategy, and if so, to determine how we should proceed.
• Monitor the competitor market for products and services MCAP offers for ongoing benchmarking and analysis.

Product Evaluation

• Evaluate the success of existing products by comparing actual volumes and profitability against projections.
• Determine reasons for either successful or unsuccessful product launches and enhance existing product line-up as required in accordance with Product Development.

Project Management

• Lead project from concept to completion by working with Project Management member(s) on all aspects of project delivery including defining project scope, specifying deliverables, estimating project duration, effort and cost, managing project budget, creating detailed project plans, managing change requests, and monitoring post-launch success.
• Identify, analyze and prioritize issues affecting the project.
• Analyze, define problems, evaluate alternatives, find a solution and understand how and when to make a choice in the best interest of the project and MCAP.

What You Bring To The Team

• Minimum 3 years’ experience in a Product Management/Financial Analysis role in Creditor Insurance or Insurance
• In depth financial services industry experience
• Thorough understanding of Creditor Insurance products, Mortgage Life, Disability and Critical Illness products existing throughout the financial services and insurance industry, property & casualty programs, as well as home warranty programs. This includes their structure, the associated contracts, the profitability and tax implications for MCAP / subservice lenders
• Mortgage and/or consumer product knowledge
• Creditor or Term Insurance product knowledge
• Proficient with Outlook, MS Word, MS Excel, MS PowerPoint, Power BI
• Working knowledge of Python and Tableau
• Sound understanding of financial structures, and ability to develop Financial Models
• Exceptional oral and written communication skills
• Excellent organizational and time-management skills
• Effectively communicates data-driven insights and proposes actionable recommendations
• Ability to multi-task in a fast-paced environment
• Strong analytical and problem-solving skills
• Proven ability to foster relationships
• Strong customer service skills
• Self-driven, motivated with the ability to work independently and in a team environment
• Carries out duties with integrity and takes responsibility for actions
• B.Comm in Finance or B.A. in Economics
• CFA designation preferred
• LLQP (Life License Qualification Program) Canadian designation preferred

If this sounds like you and you are looking to be a part of one of Canada’s largest independent mortgage finance companies, then we want to hear from you!

Be A Part Of Something Great

MCAP is Canada’s largest independent Mortgage Finance company with over $150 billion in assets under management providing mortgage solutions for residential and commercial properties. For over 35 years, MCAP originates, trades, securitizes and services mortgages in offices across Canada. MCAP originates residential mortgages exclusively through the mortgage broker channel as we believe that a professional mortgage broker is a consumer's best option and MCAP actively promotes the services of mortgage brokers across the country. MCAP is also a leader in the Canadian residential construction lending market with over 25 years in the business. Our teams of dedicated professionals serve a variety of developer, construction and lender clients across Canada.

Position #: req2065

Employment Status: Permanent Full Time

Location: Toronto; Ontario

Number Of Openings: 1

Department: Residential

Internal Job Title: Manager, Ancillary Products

The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position. It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.