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Job Description
Job Summary:
The Portfolio Modeling Team is responsible for developing investment models for Manulife/John Hancock, which are used to calculate reserve levels, for risk management activities, and for other critical business functions within the company. These models are also used to forecast investment portfolios for the Investment Plans for approximately 140 Business Segments. They are also critical tools for the Insurance Business Units’ (US, Canada, Japan and Asia) use in evaluating the adequacy of reserve levels, as well as for Asset Liability Management (ALM), who uses the models to rebalance portfolios in Risk Management activities. Accuracy and timeliness are critical measures of success. Models are populated with investment parametric data (e.g. coupon, maturity, par values, etc.), cash flow data (e.g. projected sinking funds and amortization) and return assumptions (e.g. dividends and appreciation).
Key Accountabilities:
Gather investment accounting information from various internal sources (e.g., derivatives from Findur, bonds and stocks from the Investment Data Warehouse, mortgages from Enterprise [Mortgage Accounting system]), screen and question information to ensure accuracy, populate data into GGY AXIS models.
Analyze asset models created and ensure accuracy by completing required completeness and sensibility SOX checks like reconciliation to the General Ledger, comparison of assumptions period over period, etc.
Run models for all the production work requirements, depending on the resource needs of each reporting cycle.
Refine the existing asset module for various lines of business as new requirements are identified. Enhance model as new types of assets or assumptions require modeling. Customize AXIS reports and reporting tools to produce the required model output per the needs of model users.
Provide datasets for quarterly reporting and major initiatives (reinsurance transactions, asset trades, etc.) that receives very high visibility from senior management.
Identify and implement process improvements, including automation of manual tasks where possible, to increase efficiency and transparency while minimizing the risk of errors.
Minimum Requirement to Hire:
Basic understanding of investment theory and terminology and financial accounting concepts. This may be derived from academic study or work experience.
Must have the ability to perform basic analysis and explain basic, less complex models involving interrelated variables.
General knowledge of MS Suite, with an aptitude to learn Macros (e.g. Visual Basic); relational databases (e.g. MS Access); actuarial models (e.g. Moody’s AXIS).
Minimum Experience:
At least 2 years of investments experience with Insurance Companies and/or Financial Services
Must pass current job expectations and meet performance metrics.
Education:
Bachelor’s Degree in Actuarial Science, Mathematics, Statistics
Basic understanding of investment theory and terminology and financial accounting concepts. This may be derived from academic study or work experience
If you are ready to unleash your potential, it’s time to start your career with Manulife/John Hancock.
About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2018, we had more than 34,000 employees, over 82,000 agents, and thousands of distribution partners, serving almost 28 million customers. As of December 31, 2018, we had over $1.1 trillion (US$794 billion) in assets under management and administration, and in the previous 12 months we made $29.0 billion in payments to our customers.Our principal operations in Asia, Canada and the United States are where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.Manulife is committed to supporting a culture of diversity and accessibility across the organization. It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will consult with applicants contacted to participate at any stage of the recruitment process who request an accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially.
