Derivative Strategy Analyst

3 weeks ago

Toronto, Canada Manulife Full time

**_Are you looking for a supportive, collaborative workplace with great teams and inspiring leaders? You’ve come to the right place. We’re looking for ambitious people who share our values and want to make every day better for people around the world. If this sounds like you, and the career below sounds exciting, we’d like to hear from you. _**

**Working Arrangement**

Hybrid

The Global Variable Annuity Hedging (GVAH) department, within the General Account Investment Division, is responsible for establishing and managing hedging programs at Manulife Financial. The program currently manages both the company’s balance sheet equity risk through the Macro program and the equity, bond, currency and interest rate risk through the variable annuity (VA) hedging program.

There are two sub-groups within Global Variable Annuity Hedging: Strategy and Actuarial Modeling. This position is within the Strategy group. The Strategy group is responsible for the hedging assets and is headed by the AVP, VA Hedging Strategy. The Strategy group’s primary responsibility is to identify our risk exposures and design robust hedging strategies to mitigate market risks. The Strategy group is also responsible for the monitoring and high-level reporting on the performance of all aspects of the group’s hedging programs.

The VA program is high profile within the company and attracts positive attention to high performing team members. The nature of the work is very practical, ultimately leading to trades in the market. The work in the Strategy group is generally on the boundary of Front and Middle office roles in a traditional investment banking group.

**Responsibilities**
- Analyze proposals for new hedging strategies, completing due diligence work. Conduct research to compare alternative strategies to determine the overall effectiveness of a hedging strategy.
- Analyze large data sets and conduct statistical analysis using R/Python/C/C++.
- IR swaps, equity futures, bond futures, FX futures, total return swaps, OTC options, exchange traded options, IR Swaptions.
- Develop new tools and metrics using Excel/VBA/Matlab/Python/etc. to evaluate hedging strategies.
- Collaborate closely with Actuarial Modeling, Equity Risk Oversight, traders, and other stakeholders to drive improvements to the hedging program
- Provide specifications to development teams and assist with interpretation from a capital markets perspective, to ensure the implementation meets business needs.
- Complete updates to production model parameters maintained by GVAH, specifically fund mapping decomposition of target indices into tradable instruments.

**Qualifications**
- A demonstrated quantitative aptitude, at the minimum level consistent with undergraduate mathematics/actuarial science/science, is required.
- Have a good theoretical knowledge of finance and derivatives, preferably together with practical knowledge including market conventions, specific product knowledge, and best practices of quantitative modeling in industry.
- Proficient in at least one of R/Python/C/C++ with experience analyzing large data sets.
- A demonstrated business acumen and orientation towards solving real world problems.
- Demonstrated understanding of the difference between communicating to a business audience, compared with an academic or technical audience. Specifically,
- The ability to communicate complex information and results in an effective manner;
- The ability to summarize and take or recommend action, providing details as needed.
- A strong educational background in at least one of finance, mathematics, or actuarial science.
- FRM or CFA designation (or in pursuit of) an asset.

LI-Hybrid

**About John Hancock and Manulife**

**Manulife is an Equal Opportunity Employer

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