Manager, Canadian Legacy & Inforce Management

Manulife; Halifax; Hybrid; CAD 86,000 - 136,000; Full time

Job summary

Manulife Financial Corporation’s Canadian Legacy & Inforce Management team seeks an experienced Manager to oversee inforce UL insurance governance, rate crediting processes, and profitability analyses within the Canadian portfolio.

You will lead complex investigations, coordinate data sources, and collaborate across IS, Valuation, and Legal to ensure sound actuarial principles and ROE accretive initiatives in a hybrid Halifax-based role.

Qualifications

• 5+ years of experience in actuarial/finance.
• Proficient in Microsoft Excel (including VBA).
• Strong analytical and problem-solving skills.
• Excellent verbal and written communications.

Responsibilities

• Become a subject matter expert on Manulife’s UL inforce portfolio and UL Rate Crediting.
• Support governance surrounding UL Rate Crediting and contractual obligations.
• Coordinate external data sources for UL Rate Crediting and downstream reports.
• Collaborate with CDIFS, IS, Operations, Valuation, Hedging and vendors to ensure downstream use of UL crediting rates.
• Write formal recommendation memos and document processes, methodologies, and risks.
• Represent Canadian Legacy & Inforce Management in fund rationalization projects.

Skills

Actuarial/Finance experience

Advanced Excel (VBA)

Analytical thinking

Communication skills

Tools

SQL

Job description

The Canadian Legacy & Inforce Management team focuses on one of Manulife’s key strategic priorities: Portfolio Optimization. The team is responsible for ensuring proper administration of our inforce policies, identifying opportunities and executing initiatives to improve the value of Manulife’s inforce block of business. The team’s mandate is to improve the Canadian Segment ROE, generate free capital, reduce risk, and improve remittances for the company.

Reporting to the Director of Canadian Legacy & Inforce Management, the Manager will primarily be focused on ensuring the proper management of our inforce Universal Life (UL) insurance business. They will focus on ensuring proper controls and governance of our UL Rate Crediting process, supporting ad-hoc investigations into UL contract wording and investment options, and analyzing opportunities to improve legacy insurance profitability. Where possible, they will also analyze and recommend ways to improve the earnings and capital efficiency of our large inforce blocks of business.

Position Responsibilities:

• UL Management and Optimization:
  • Become a subject matter expert on Manulife’s inforce portfolio of UL insurance products and investment accounts, as well as the UL Rate Crediting process
  • Support the management, control, and governance surrounding UL Rate Crediting
  • Support the business in ensuring proper management of UL products consistent with contractual obligations
  • Coordinate external data sources supporting UL Rate Crediting and downstream reports
  • Collaborate with CDIFS to ensure the proper calculation of UL crediting rates
  • Collaborate with IS, Operations, Valuation, Hedging, and external vendors to ensure proper downstream use of UL crediting rates
  • As issues arise, spearhead an investigation and brainstorm potential options, understand their impacts, and recommend a solution providing clear rationale
  • Identify and spearhead process improvements and automation where applicable
  • Write formal recommendation memos and document processes, methodologies, and risks
  • Represent Canadian Legacy & Inforce Management in fund rationalization projects by recommending changes to our fund lineup balancing profitability and policyholder/advisor expectations
• Support new and on-going optimization projects with the goal of being ROE accretive
• Partner with Valuation teams to model earnings and capital impacts of initiatives
• Liaise with the administrative operations (systems, customer experience, policyholder taxation, illustrations, special case, etc.) to ensure the application of sound actuarial principles to the administration of UL insurance products
• Identify project risks, manage and upscale issues, and take actions as required
• Work closely with internal and external Legal Counsel to ensure proper mitigation of legal and reputation risk
• Collaborate with other areas within Canadian Legacy & Inforce Management to support ad-hoc requests from senior leaders as well as clients and advisors
• In the long-term, become the technical owner of identified pain points and issues on our Canadian Legacy products propose potential solutions by collaborating with our Canadian Special Case team (for UL and non-UL products).

Required Qualifications:

• 5+ years of experience working within an actuarial/finance area
• Strong analytical and problem-solving skills
• Ability to process large amounts of information and summarize effectively
• Proficient in Microsoft Excel (including VBA and Power Queries)
• Strong verbal and written communications skills
• Ability to work independently as well as in cross-functional teams
• Results oriented, able to balance expectations, work under tight deadlines and handle challenging priorities
• Consistently demonstrating our company values
• Excellent customer/shareholder focus and commitment to quality

Preferred Qualifications:

• Previous experience with UL insurance and investments
• Working knowledge of our various administrative systems
• Background in coding (specifically SQL)

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.

The role being advertised is an existing vacancy.

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 [e-mail].

Referenced Salary Location

CAN, Nova Scotia, Halifax, 2727 Joseph Howe Drive

Working Arrangement

Hybrid

Salary range is expected to be between

$86,110.00 CAD - $136,110.00 CAD

Employees 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 [e-mail] 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 [e-mail] for more information about U.S.-specific paid time off provisions.

We use data and analytics technologies, such as artificial intelligence (AI), and automated processing tools, to analyze and process the information you provide to us or third parties in the application process. For more information, please refer to our personal information collection statement.