The Director Reinsurance Oversight manages and monitors reinsurance initiatives on an enterprise-wide basis, ensuring compliance with internal policies and external regulatory frameworks (e.g., OSFI B-3, B-10). The Director drives robust tracking and clear status reporting of all reinsurance initiatives.
This role serves as a first point of contact for business units considering reinsurance transactions or amendments. The Director plays a critical role in the evaluation of transactions, identifying potential issues and providing informed, prompt feedback to business units, assessing functions that will be involved and providing clear communication of any issues to reviewers/approvers.
*Note: Frequent evening or early morning meetings required in this role.
Position Responsibilities:
Reinsurance Governance: Maintain and evolve the Reinsurance Oversight Process, including documentation, risk assessments, and coordination with the Reinsurance Risk Oversight Committee.
Regulatory Compliance: Lead efforts to ensure compliance with OSFI guidelines (B-3, B-10), including the evolution of Self-Assessment Questionnaires and Corrective Action Plans; and coordinate industry/regulatory surveys.
Transaction Oversight: Review and approve reinsurance treaties, amendments, and proposals across global markets (e.g., Japan, Singapore, Canada).
Risk Management: Collaborate with Global Risk teams (Product, Underwriting, Financial, Third Party Risk Management and Vendor Information Security Management) to assess potential risks across reinsurance structures and counterparties.
Strategic Engagement: Facilitate early engagement with internal stakeholders (e.g., Legal, Tax, Capital Management) and external reinsurers to support product development and treaty execution.
Reporting & Communication: Prepare and present materials for Reinsurance Risk Oversight Committee and other governance bodies, including quarterly reviews and policy updates.
Support a specialized group function providing expert advice to all business units.
Process quality, coordinating approvals in a timely manner, and influencing overall project management.
Understand department deliverables and organize own work as well as communication with other functions to achieve desired segment results.
Understand implications of results and recommend next steps.
Consider cause, effect relationships, and recommend actions to mitigate risk in reinsurance.
Apply intuition regarding presented results of business unit financial models and highlight concerns and hypothesize causes when results are unexpected.
Enhance global reinsurance knowledge through sharing of leading practices and constant feedback loops.
Required Qualifications:
Minimum 5 years of experience in an actuarial, accounting, or finance role.
Ability to perform complex financial analysis with little direction or guidance.
Team player and self-starter.
High energy and drive, results oriented.
Strong analytical and problem-solving skills, emerging ability to think “outside the box”.
Exceptional written and verbal communication skills for cross-functional coordination and executive reporting.
Highly organized, able to manage multiple projects.
Analytical, Problem Solving, and Decision-Making Skills.
Preferred Qualifications:
Deep understanding of reinsurance structures, treaty provisions, and capital implications (e.g., LICAT, coinsurance with funds withheld).
Strong grasp of regulatory frameworks and risk governance.
Analytical rigor and attention to detail in reviewing treaty terms, financial metrics, and compliance documentation.
Strong Relationship building and Influencing skills needed in a global environment.
Critical thinking and desire to understand the motivation and risk.
Proficiency in actuarial concepts, multiple accounting bases and financial modeling.
Ability to streamline reporting and oversight through dashboards or automated workflows.
Familiarity with SharePoint, Excel, and enterprise risk systems.
Familiarity with international reinsurance law and confidentiality clauses.
Experience with reinsurance credit exposure and security agreements.
Skills in leading organizational change and training others on oversight processes would support broader adoption and consistency.
When you join our team:
We will empower you to learn and grow the career you want.
We will 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.
Exposure to leadership of reinsurance partners, global segment product development teams, global risk and actuarial functions.
#LI-Hybrid
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 recruitment@manulife.com.
Referenced Salary Location
Toronto, OntarioWorking Arrangement
Salary range is expected to be between
$105,750.00 CAD - $190,350.00 CADIf you are applying for this role outside of the primary location, please contact recruitment@manulife.com for the salary range for your location. 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. Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.
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 recruitment@manulife.com for more information about U.S.-specific paid time off provisions.