New Business Assistant– Financial Operations

The New Business Assistant – Financial Operations supports life insurance new business processing by ensuring accurate and timely handling of financial transactions. The role is responsible for premium refunds, fund transfers, cross-entry of payments, suspense account management, and other related financial activities. This position plays a vital role in ensuring correct policy issuance, financial integrity, and compliance with regulatory and internal control requirements.

Position Responsibilities:

Financial Transaction Processing

• Process premium refunds for declined, withdrawn, or amended life insurance applications in accordance with company policies and turnaround time standards.
• Execute and monitor fund transfers related to new business applications, policy corrections, and reallocations.
• Perform cross-entry of payments between finance systems and policy administration systems to ensure accurate allocation of premiums.
• Handle suspense account transactions, including investigation, validation, allocation, and timely clearance of unallocated or misapplied payments.

Reconciliation and Controls

• Perform daily and periodic reconciliation of premium collections against bank statements and policy system records.
• Investigate payment discrepancies, unmatched collections, and rejected transactions, and coordinate resolution with internal stakeholders.
• Ensure all transactions comply with internal controls, audit requirements, and regulatory standards applicable to life insurance operations.

Coordination and Support

• Work closely with New Business, Underwriting, Finance, Customer Service, and Bancassurance/Agency teams to resolve financial or premium-related issues.
• Provide transaction status updates and support policy issuance by ensuring premium completeness and accuracy.
• Maintain complete and accurate documentation for all financial transactions.

Reporting and Process Improvement

• Prepare or support reports related to premium collections, refunds, suspense balances, and outstanding items.
• Identify recurring issues in payment processing and recommend process improvements to enhance efficiency and accuracy.

Support internal and external audits by providing required documentation and explanations

Required Qualifications:

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field is preferred
• 1-2 years experience in life insurance operations, financial services, or shared services.
• Familiarity with premium processing, refunds, suspense accounts, and policy administration systems preferred.

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.

Hybrid