AVP, Equity Risk Oversight

Job Description

Are you looking for unlimited opportunities to develop and succeed? With work that challenges and makes a difference, within a flexible and supportive environment, we can help our customers achieve their dreams and aspirations.

Job Description

Lead a team to perform enterprise-wide oversight on global public equity risk and controls stemming from Manulife’s General Accounts public equity investments (including Public Seed Capital), variable annuity, equity-linked products and other direct and indirect exposures (including DB Pension plan, Deferred Stock Units). This role reports to the Global Head of Financial Risk within Group Risk Management.

Responsibilities:

• Act as the primary point of contact / interface on Global Public Equity Investments in General Accounts and Equity-linked product (including Variable Annuity) Risks.
• Lead the development and implementation of a robust equity risk governance framework, enabling independent review and effective challenge of public equity risks taken across the enterprise.
• Raise awareness and increase understanding of inherent and residual Public Equity risks across the organization.
• Develop strong working relationships with internal partners to handle requests from external partners including OSFI and rating agencies.
• Lead all aspects of the methodology implementation and communication of Variable annuity dynamic hedging program performance attribution report, and provide periodic stress testing reports for public equity risks.
• Provide periodic reports and analysis to Risk oversight committees (ERC, BRC) on various public equity risk topics and impact to earnings, capital and sensitivities, including exposures to topical market events as required.
• Actively participate in Financial Risk Leadership team meeting and risk oversight committees (GALCO, DALCO) as required.

Job Requirements:

• Minimum 10 years of professional experience in financial services industry, preferably in market risk management / variable annuities and financial reporting, performance attribution.
• Advanced degree in mathematical finance, statistics or Actuarial Science.
• Advanced knowledge of equity and interest rate derivatives.
• Expertise in equity linked insurance products.
• Ability to communicate complex issues and concepts in a simple and effective manner (oral and written).
• Ability to build strong working relationships and influence outcomes within and across organizations.
• Self-starter and ability to work in an ambiguous environment with little guidance.
• Experience in policy development / implementation and evaluating processes / controls.
• Excellent management and organizational skills.
• Ability to hire, develop and motivate staffs.

Proficiencies:

• Process oriented
• Team management

Decision Authorities:

Owns

• Enterprise-wide policies, standards, guidelines and frameworks governing Global Public Equity Risk management.
• Dynamic Hedging Limits Framework for Variable Annuity.
• Macro Hedging Operational Framework.
• People decisions (staffing/compensation) for Public Equity Risk team.

Influences

• Company wide Public Equity Risk appetite statements and limits
• Risk mitigation strategy proposals and modifications.
• Public Equity Risk assumptions developed by Group Risk Management (e.g. return / volatility) for pricing and product development purposes, including calibration parameters for scenario generation.
• Public Equity Risk reports and commentaries to internal / external partners, including Public Equity Risk portion of the Management Discussion & Analysis disclosure.

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 June 30, 2019, we had over $1.1 trillion (US$877 billion) in assets under management and administration, and in the previous 12 months we made $29.4 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 an equal opportunity employer. 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 and advancement and we administer all of our practices and programs based on qualification and performance and without discrimination on any protected ground. 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 any accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially.