Senior Insurance Specialist

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Job Responsibilities :

The Senior Insurance Specialist is responsible for leading the management and strategic enhancement of insurance and protection product reporting through the ingestion and integration of complex data sets. This role involves identifying critical gaps within the data and business processes and driving actionable solutions to optimize performance and compliance.

This position oversees the design and execution of incentive and bonus programs by applying advanced analytics to deliver insights that support executive decision-making. The  Insurance Specialist acts as a key liaison between internal teams and external partners to ensure timely renewal, compliance, and governance of insurance policies and procedures. This role requires strong analytical skills, attention to detail, and effective communication with internal and external stakeholders to support the company’s insurance portfolio and related business programs.

Key accountabilities of the function:

1. Insurance and Protection Product Reporting

• Drive the enhancement and continuous improvement of comprehensive reporting systems for insurance and protection products.
• Ensure and validate the accuracy, integrity, and timeliness of all insurance-related reports submitted to Accounting and Controlling teams.
• Lead coordination efforts across multiple departments to reconcile data discrepancies and validate reporting outputs to support business objectives.

2. Review and Management of Incentives and Bonus Programs

• Oversee the management and governance of monthly and quarterly incentive programs, including performance league points, ensuring precise calculation and timely updates.
• Direct the EWU CF Bonus reconciliation process with Controlling, verify bonus payouts, and ensure retailer communications are executed within agreed timelines.
• Monitor and govern Certified Pre-Owned (CPO) bonus payouts, ensuring strict adherence to program guidelines and compliance standards.

3. Reporting and Analytics

• Lead quarterly business performance reviews, leveraging trend analysis and comprehensive insights to identify strategic opportunities and drive business improvements.
• Deliver high-impact, actionable reports that underpin strategic decision-making and enhance operational efficiency across the organization.
• Ensure all monthly insurance reporting is completed, finalized, and submitted by the 2nd business day of each month, maintaining rigorous standards.
• Collaborate closely with the Business Intelligence (BI) team to advance Tableau dashboards and reporting functionalities, elevating data visualization and business insight capabilities.

4. Performance League Management

• Ensure the accurate and timely upload of Performance League points, maintaining strict adherence to governance timelines.
• Lead the annual review, strategic assessment, and approval process for the Performance League program, identifying enhancement opportunities and aligning the program with evolving business goals.

5. Insurance Policy and Procedure Management

• Oversee the end-to-end renewal process for insurance policies and associated procedure documents, ensuring full compliance with internal policies and external regulations.
• Partner with legal, risk management, and finance teams to proactively update, review, and maintain comprehensive policy documentation.
• Ensure the timely dissemination and communication of current policies to all relevant stakeholders.

6. Insurance Communications

• Responsible for the creation, management, and distribution of the Insurance Bulletin to internal and external stakeholders, ensuring timely and accurate communication of updates and important information.

7. Compliance and Risk Management

• Champion compliance efforts related to insurance and protection products, ensuring adherence to regulatory requirements and internal controls.
• Lead support for internal audits and external reviews pertaining to insurance programs and policies.
• Identify, assess, and escalate potential risks, collaborating with cross-functional teams to design and implement effective risk mitigation strategies.

8. Stakeholder Communication and Support

• Serve as a point of contact for internal teams, retailers, and external partners regarding insurance products, bonuses, and incentive programs.
• Lead the delivery of training programs and provide expert guidance to relevant teams on insurance processes, reporting requirements, and best practices

Education :

Bachelor’s degree in Business, Finance, Insurance, Risk Management, or related field.

Work experience, Leadership experience :

Proven experience (5+ years) in insurance, financial reporting, or incentive program management.

Additional skills: special skills / technical ability etc.:

• Demonstrates exceptional analytical and strategic problem-solving abilities with a meticulous, detail-oriented approach to complex challenges.
• Advanced proficiency in MS Excel and a strong command of reporting tools; hands-on experience with insurance management systems is highly advantageous.
• Extensive experience leveraging Business Intelligence (BI) platforms such as Tableau to drive data-driven insights and enhance decision-making processes.
• Proven organizational leadership with the ability to prioritize and manage multiple high-impact projects and deadlines simultaneously.
• Superior communication skills, both written and verbal, with the ability to influence and engage stakeholders at all organizational levels.
• Strong aptitude for fostering collaboration and driving results within cross-functional, matrixed environments.

Preferred Skills:

• Knowledge of insurance industry standards, regulatory frameworks, and compliance requirements..
• Experience in designing, administering, and optimizing bonus and incentive programs to align with strategic business goals.
• Proficient  in trend analysis and advanced business intelligence reporting methodologies to inform executive-level decision-making.
• Skilled  in interpreting, reconciling, and presenting complex financial data with accuracy and clarity.

Compensation

The compensation range for this role is $73,100 - $90,600, with variations based on factors like experience, education and skills. Experienced candidates are encouraged to apply.

Benefits of working at BMW Group Canada include:

• An award-winning culture.
• Cutting edge innovation and creativity.
• Incredible BMW, MINI and Motorrad employee vehicle/motorcycle programs.
• Flexible working models. **
• Highly competitive compensation.
• Performance incentives programs.
• First-rate health and wellness benefits.
• Education reimbursement. 
• World-class office space.
• Fresh & nutritious meals in our amazing fully staffed, and subsidized, onsite cafeteria.
• Fully stocked coffee/tea bar.

 ** We encourage interested candidates who may legally work in Canada to apply for the role. Our organization follows a hybrid work structure. To be eligible for this role, candidates are expected to work from our Head Office in Richmond Hill, Ontario three times in a week.

At the BMW Group, we place great importance on equal treatment and equal opportunities. Our recruiting decisions are based on the personality, experience, and skills of the applicants.