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Lead, Actuarial Modeling, Variable Annuity Hedging

2 months ago


Toronto, Ontario, Canada Manulife and John Hancock Full time
Job Title: Variable Annuity Hedging Specialist

We are a leading financial services provider committed to making decisions easier and lives better for our customers and colleagues around the world. From our environmental initiatives to our community investments, we lead with values throughout our business.

About the Role

This is an exciting opportunity to join our Variable Annuity Hedging team, where you will play a key role in establishing and managing hedging programs at Manulife Financial. As a Variable Annuity Hedging Specialist, you will be responsible for developing a strong understanding of our hedging programs and various aspects of VA and IUL, such as product features, hedging strategies, financial reporting, capital and modelling.

Key Responsibilities
  • Become an expert user of our hedging systems and test and implement improvements to existing hedging models and daily hedging operations.
  • Maintain PathWise integration in Hedging system through Python scripting.
  • Review hedging liability grid results and assist with performance attribution.
  • Support the IUL hedge cycle to trigger the runs to calculate the hedge exposures and analyze the monthly hedge exposure movements.
  • Partner with key stakeholders to support the migration of the IUL admin system and hedge exposure calculator to new platforms.
  • Collaborate with multiple stakeholders to expand the scope of IUL hedging operation to other geographies and product lines.
  • Work with the VAH Strategy and IT teams to enhance the database infrastructure and ensure system readiness for new product features and offerings.
  • Cooperate with multiple stakeholders to build the in-house IUL hedge exposure calculator to support the IUL dynamic hedging initiative.
  • Work with VAH Strategy Team to develop and quantify impacts of new hedging strategies.
  • Interact with Group Finance Actuarial, Capital, Risk Oversight, and divisional modelling and valuation teams to validate and explain hedging results.
  • Update and propose changes to the equity option and swaption calibration methods and assumptions.
  • Recommend hedging decisions using analysis, data and modelling.
  • Respond effectively to time-sensitive requests for information from Management.
  • Support regular stress testing and reporting of liabilities and Greeks.
What We're Looking For
  • FSA or equivalent; OR graduate degree in a quantitative field
  • Actuarial experience or knowledge of actuarial concepts
  • Minimum 7-10 years of experience in the financial industry
  • Strong actuarial or quant, analytical, and problem-solving skills
  • Process- and result-oriented with strong attention to details
  • Proactive and able to work both independently and with teams
  • Strong communication and interpersonal skills to deal with multiple stakeholders from different backgrounds at the same time.
  • Organized and able to manage complex processes
  • Basic knowledge of capital market instruments including futures, swaps, options and swaptions would be helpful
  • Knowledge of Python or a similar programming language
  • Stochastic modelling and quantitative modelling knowledge are assets
What We Offer
  • A competitive salary and benefits packages.
  • A growth trajectory that extends upward and outward, encouraging you to follow your passions and learn new skills.
  • A focus on growing your career path with us.
  • Flexible work policies and strong work-life balance.
  • Professional development and leadership opportunities.
About Manulife

Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Asia, Canada, and Europe, and primarily as John Hancock in the United States.

We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers.

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.