The team is responsible for ensuring accurate administration of Manulife Canada’s inforce policies, identifying opportunities and executing initiatives to improve the value of Manulife’s inforce block of business. The team’s financial mandate is to ensure Canadian Segment ROE is optimized, generate free capital where opportunities exist, reduce unnecessary risk, and improve remittances for the segment. The team is also responsible for ensuring we meet our contractual obligations to keep our promises to policyholders, while balancing the needs of customers, advisors and shareholders.
Reporting to the AVP, Inforce Management, this role is critical in managing and analyzing the inforce reinsurance portfolio at Manulife and will support the ongoing goal to improve the ROE of the inforce block through the use of reinsurance and other levers. The individual will add value through development of analysis and recommendations for various reinsurance initiatives.
The Director & Actuary, Inforce Management will collaborate with cross-functional teams across Canadian Segment to assess issues, analyze risks and develop solutions that will help ensure success in reinsurance initiatives on our inforce blocks and ensure alignment with Manulife's strategic objectives and risk management practices. This is a fast-paced dynamic function so the candidate must be a strong, resilient leader who can motivate the team and deliver under pressure.
Key Accountabilities for this role:
Lead and partner with functional teams on the execution of inforce (mostly insurance but may be involved in annuities) reinsurance initiatives, including design, investigation, planning, approvals and implementation.
Develop ideas and modeling to support reinsurance initiatives.
Oversee and ensure effective execution of agreed initiatives.
Develop appropriate monitoring tools to assess the effectiveness of inforce agreements.
Work with Pricing, Operations and Underwriting teams to ensure that the Canadian segment is optimally positioned in its reinsurance transactions and reinsurance arrangements are understood and effectively utilized.
Partner with Valuation teams to model earnings and capital impacts of initiatives.
Present initiatives to senior management inside and outside the business unit, as well as external partners.
Identify project risks, manage and escalate issues and take actions as required.
Required Qualifications and Experience:
Actuarial designation (FSA, FCIA, ASA) with 10+ years of relevant experience in progressive actuarial roles. Possesses a broad understanding of the insurance business.
Demonstrates advanced knowledge regarding technical aspects of work; able to review data or results for reasonability and identify root causes and drivers in the data being reviewed.
Self-starter with the ability to work independently, particularly in the area of using sound, independent judgment, problem-solving and critical-thinking skills.
Remains calm and controlled in pressured and stressful situations; demonstrates confidence and persistence in the face of setbacks and obstacles.
Strong interpersonal skills with the ability to collaborate, negotiate and influence effectively.
Results oriented, able to manage expectations, work under tight deadlines and manage competing priorities.
Demonstrated leadership talents in coaching and motivating colleagues to achieve objectives.
Confident, effective communicator with ability to communicate complex actuarial concepts and results in a clear, concise, easy to understand manner.
A broad background in GGY AXIS modeling, valuation assumption development, reserving and capital requirements.
Reinsurance experience an asset but not required.
Bilingualism (English and French) is a strong asset. If the successful candidate is in Québec, proficiency in both languages will be required to support clients from various provinces outside of Quebec.
When you join our team:
We’ll empower you to learn and grow the career you want.
We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.
As part of our global team, we’ll support you in shaping the future you want to see.
About Manulife and John Hancock
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.
Manulife is an Equal Opportunity Employer
At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.
It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact hr@manulife.com.
Referenced Salary Location
Toronto, OntarioWorking Arrangement
Salary range is expected to be between
$145,130.00 CAD - $195,130.00 CADEmployees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. If you are applying for this role outside of the primary location, please contact hr@manulife.com for the salary range for your location.
Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact hr@manulife.com for more information about U.S.-specific paid time off provisions.