BMO · 1 month ago
Senior Bilingual Underwriting Consultant, BMO Insurance
United States
Full-time
Remote
Mid, Senior Level
$76K/yr - $142K/yr
5+ years expBMO is a financial institution committed to creating lasting, positive change for customers and communities. The Senior Bilingual Underwriting Consultant is responsible for assessing underwriting mortality and morbidity, evaluating complex medical histories, and ensuring compliance with established underwriting principles. This role requires advanced critical thinking and communication skills to effectively manage risk and collaborate with various stakeholders.
BankingCrowdfundingFinanceFinancial Services
Responsibilities
Follow the underwriting principles, directives, guidelines & manuals to assess the underwriting risk for New Business applications, Policy Changes for various product lines and distribution channels (Advisor, Direct, Creditor), including but not limited to the following key activities:
Calculate appropriate age/amount requirements, auto/jumbo limits and initial and ultimate face amounts of coverage in accordance with external reinsurance treaties
Review and assess AML and governance risk in advance of placing the contract inforce
Adjudicate client risk factors in the application and corresponding data elements in order to decide on the right mortality or morbidity risk
Review and assess information from Attending Physician Statements and other medical specialists in order to assess life expectancy
Review and determine Fair Market Value of Corporately owned policies to ensure amounts of coverage are justified
Work with client advisory partners (Tax planners, Accountants, Lawyers) to ensure that data is accurately reflected in the risk assessment that is made, insurable interest and review of sales concept involved
Liaise with specialists, such as actuaries, medical providers or doctors, to understand the medical risk and other non-medical risk factors for the identified case
Calculate underwriting decision and corresponding mortality rating based on medical experience and training, discussions with internal Medical Doctors, Reinsurance and Actuarial
Decide whether the risk should be shared with a re-insurer and negotiate reinsurance agreements on all individual cases
Decision the insurance policy and specify any additional conditions to be imposed based on the overall underwriting risk assessment
Update system and document notes and prepare for audit review
Check in force policies to ensure appropriate initial and ultimate amounts calculated
Ensure that the treaty terms for each Reinsurer on each product line is well understood and followed. Treaties are available to Underwriters and are housed in the Actuarial Department
Ensure MIB properly reviewed and coded on each case
Ensure communication is free of any personal comments. Documentation must be clear and concise and outlines methodology of risk assessment for auditing purposes
Perform presentations and onsite visits with Nesbitt EIA’s, Advisory brokers and Managing General Agencies (MGAs) as required to educate on underwriting matters
Review special underwriting requests or rating reconsiderations for MGAs and brokers and negotiate terms as required for specific business (within authority limits)
Keep up to date with medical knowledge, developments and trends. Keep abreast of changes in the financial market, economy, geo-political and travel concerns as they relate to Underwriting
Maintain excellent reinsurance relationships in the discussion of individual case management and requirements
Risk score all Universal Life clients and reviewing case parameters according to internal AML guidelines
Work with Corporate AML office on any findings required to change internal policy and procedures for underwriting
Perform review of client applications and disclosures
Assess corporate entities based on shareholder ownership and company financials
Support internal Business Unit Governance team on investigations and suspicious underwriting files
Review and assess reinsurance decisions for market competitiveness
Negotiate complex medical/non-medical/financial cases with reinsurer to obtain best offer
Reserve and manage appropriate capacity for large cases
Calculate and reserve appropriate initial and ultimate amounts through reinsurance treaty parameters to anticipate future growth liabilities
Provide insight and feedback to Director Underwriting on trending reinsurance decision and emerging trends for future RFP treaty negotiations
Follow appropriate underwriting principles, directives & guidelines and manuals to do (remove) assess the underwriting risk associated with new applications/business to BMO Life Assurance
Assess medical and non-medical risk factors consistent with internal and reinsurance guidelines
Obtain appropriate approvals based on judgment and signing limits, recommending for approval for policies that are above personal underwriting limits
Maintain current knowledge of promoted insurance sales concepts and understand the implications to underwriting and the business overall
Adhere to all aspects of First Principles our code of Business Conduct and Ethics including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities
Must be clear and concise and outlines methodology of risk assessment for auditing purposes
Visit brokers and managing general agencies (MGAs) as required to educate on underwriting matters
Review special underwriting requests or rating reconsiderations for MGAs and brokers and negotiate terms as required for specific business (within authority limits)
Keep up to date with medical knowledge, developments and trends. Keep abreast of changes in the financial market, economy, geo-political and travel concerns as they relate to Underwriting
Maintain excellent reinsurance relationships in the discussion of individual case management and requirements
Follow appropriate underwriting principles, directives & guidelines and manuals to do (remove) assess the underwriting risk associated with new applications/business to BMO Life Assurance
Assess medical and non-medical risk factors consistent with internal and reinsurance guidelines
Obtain appropriate approvals based on judgment and signing limits, recommending for approval for policies that are above personal underwriting limits
Maintain current knowledge of promoted insurance sales concepts and understand the implications to underwriting and the business overall
Adhere to all aspects of First Principles our code of Business Conduct and Ethics including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities
Qualification
Required
Undergraduate degree
5-10 years experience in an underwriting environment
ALU II – working towards F.A.L.U
Business Numeracy (In-depth)
Analytical skills (In-depth)
Negotiation skills (In-depth)
Communication
Preferred
Bilingualism French and English is an asset
Benefits
Health insurance
Tuition reimbursement
Accident and life insurance
Retirement savings plans
Company
BMO
We’re a bank, but there’s more to it than that. When you join BMO, it opens a world of opportunities.
10001+ employees
H1B Sponsorship
BMO has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (7)
2024 (2)
2023 (6)
2022 (4)
2021 (2)
2020 (2)
Funding
Current Stage
Public CompanyTotal Funding
$7.54B2025-10-23Post Ipo Debt· $142.91M
2025-02-26Post Ipo Debt· $871.76M
2024-07-09Post Ipo Debt· $750M
Leadership Team
David Casper
U.S. Chief Executive Officer
Azam Dawood
Head Of Sourcing
Recent News
MarketScreener
2026-01-06
2025-12-24
2025-12-18
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