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Financial Planning Analyst

Operational Support:

  • Ensure FCA operates efficiently and effectively
    • Envision and understand President initiatives and goals, and keep FCA Advisors on-track ad efficient

Meeting Preparation:

  • Compile life and segregated fund reporting (excludes group benefits)
    • Update and complete insurance summary, gather information on existing contracts (term renewals, riders, expires, etc.), request and gather in force illustrations and various other relevant data
    • Gather and include all required paperwork for applications, conversions, policy changes, etc. (joint effort with In Force Coordinator)

  • Compile Universal Life and Segregated fund investment reporting (joint effort with In Force Coordinator)
    • Gather information on investment types, market returns, investment progress and fund choices
    • Generate Winfund investment statements
    • Include required paperwork to change investment mix.

  • Prepare engagement letters, privacy agreements and ‘Blueprints’ and monitor to ensure FCA executes contractual commitments and deliverables.
    • Track engagements (time tracking, billing, and invoicing)

  • Include any additional documents as required by advisors (i.e., job descriptions, corporate agreements, articles, reports, etc.)
  • Prepare ‘white file’
    • Pre-Meeting:
      • Include all documents within folder for advisor and clean up folder as necessary (i.e., remove unnecessary old documents)
      • If virtual meeting, include PDF copies of relevant documents to advisor prior to meeting.

    • Post-Meeting:
      • Scrub and ensure meeting notes are included, action items are added to CRM and delegated appropriately, and any potential opportunities are added to the CRM and followed-up on.
      • Prepare file to be scanned into system and filed away by In Force Coordinator

  • Manage hard copy and electronic files
    • Maintain up-to-date and accurate files of hard copy documents and correspondence, both internally and externally
    • Develop processes and procedures that align with compliance measures

Insurance Illustrations & Analysis:

  • Prepare life, critical illness, and disability insurance product illustrations
  • Compare products scope and pricing through the use of multiple option graphs, PowerPoint presentations, excel worksheets and carrier site reports
  • Prepare advanced market illustrations – PFA, IFS, insured annuities (personal and corporate), insured retirement programs (personal and corporate), shared ownership arrangements/split-dollar
    • Prepare illustrations as requested by advisor
    • Track in force strategies with tracking spreadsheet and produce any necessary illustration/comparison
    • Prepare reference material for Sales Advisors regarding tax implications and tax strategies for use when presenting to clients
    • Provide Sales Advisors with analyses of alternate tax strategies available to clients based on the need of each individual client
    • Liaise with clients’ external professional advisors

  • Design specialty PowerPoint presentations and reports for client meetings (joint effort with consultants)

New Business Processing:

  • Complete life, critical illness, disability insurance and bank financing applications
  • Ensure that personal, financial, and underwriting questions are answered appropriately
  • Assemble application packages to be sent to the insurance carriers
    • Packages include insurance application, cover letter, illustrations, etc.

  • Order corresponding underwriting requirements
  • Update opportunities module as required and keep President/Team well informed
  • Follow-up on attention physician statements as needed
  • Coordinate and expedite with new business case coordinators and maintain open communication with underwriters on pending cases.
  • Ensure policy issue is correct
  • Follow-up with clients to ensure all outstanding delivery documents are collected
  • Close opportunity module with the appropriate details
  • Ensure all necessary documents are maintained in the clients electronic file and saved within a PDF package as per FCA procedure
    • Package includes copy of application, additional documents, decision summary from CRM, signed delivery documents, etc.

  • Ensure each application/placement has a Reason Why letter as per compliance procedures.
  • Continue to monitor new business processes and evolve as necessary.

Commission Tracking & Year-End Reporting:

  • Ensure all commission is paid appropriately and keep New Business Associate up to date with payments
    • I.e., run ‘commission payment’ report within CRM and close once completed. Let New Business Coordinator know and for them to complete the underwriting process.

  • Confirm advisor splits with President and ensure any New Business is split appropriately with advisor.

  • Prepare commission reports to President and associate advisors
    • At the end of Q1 and Q3 include only Insurance New Business report
    • At the end of Q2 and Q4 include all commission amounts include renewals, investment, fee-based, group benefits, etc.

  • Prepare any year-end report as deemed necessary

Comprehensive Financial Planning, Business Continuity & Exit Planning:

  • Work with advisors to gather data
  • Develop draft financial plans and reports using various software
  • Stay competent using various software; continues training and upgrading as required
  • Participate in client meetings and processes
  • Write memos to clients regarding meeting notes and other explanations, discussions, and issues

Client Servicing Support (Joint Effor):

  • Service Existing Clients
    • Support In Force Coordinator with any assistance with processing service requests (bank changes, transfer of ownerships, updated contact information, etc.)
    • Support New Business Coordinator with any death, disability, and critical illness insurance claims
    • Address client inquiries regarding policies details and products
    • Process conversions
    • Follow-up on above servicing items and ensure all is processed accordingly
    • Maintain our Client Servicing Module within the CRM.

Marketing Support:

  • Maintain Appropriate Database through the use of CRM
    • Update all contact records in CRM
    • Manage CRM opportunities and leads
    • Ensure that clients and affiliates’ contact information are kept up to date
    • Assists in handle all technology issues that may arise, if possible

  • Establish Strategic Alliances & Centers of Influence
    • Send out introductory letters to lawyers, accountants, Centers of Influence, and other business partners
    • Utilize group/filter function in CRM to create mass mailing solutions

  • Ensure branding is consistent on all internal/external documents
  • Continuously ensure CRM is operating efficiently and make any necessary updates/changes

Compliance Officer:

  • Monitor adherence and work with the business to remediate incidents of non- compliance
    • Conduct reviews of organizational practices and operations
    • Provide guidance and recommendations on corrective actions or risk mitigation strategies and ensure proper implementation.

  • Develop policies to support compliance:
    • Determine what policies are applicable and needed in the organization.
    • Review and update procedures to reflect changes in legislation and the business.
    • Act as an educational and training resource on compliance matters.

  • Maintain regulatory awareness:
    • Review regulatory resources (bulletins, trade journals, news publications, websites, etc.) in order to stay current.
    • Attend related conferences and training sessions, networking with industry peers.

  • Complete necessary annual reports and updating as per industry regulation.

Interpersonal & Leadership Development:

  • Knowing key contacts and applying appropriate protocols when communicating with these key persons
  • Developing relationships with affiliated wholesalers
    • Ensuring relationships with wholesalers, case coordinators, and underwriters are maintained on a professional and effective basis

  • Contribute to organizational teamwork

Corporate Team Mandate:

  • Execute Company business and marketing plan
  • Protects organization’s values by keeping information confidential
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations
  • Enhances organization’s reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments
  • Build relationships with new clients
  • Work with team to develop proposals that speaks to the client’s needs, concerns, and objectives
  • Client retention (improve customer satisfaction)
  • Present new products and services and enhance existing relationships
  • Work with technical staff and other internal colleagues to meet customer needs
  • Arrange and participate in internal and external client debriefs
  • Attend industry functions, such as association events and conferences, and provide feedback and information on market and creative trends
  • Identify opportunities for campaigns, services, and distribution channels that will lead to an increase in sales
  • Ensure that data is accurately entered and managed within the company’s CRM or other sales management system
  • Track and record activity on accounts and help to close deals to meet these targets
To explore this opportunity, contact Joanne Durand
Tel: (604) 662-5500
joanne@financialconfidence.com