Manager Strategy, Variable Annuity Hedging
4 months ago
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. To help us stand out, we help you step up, because when colleagues are healthy, respected and meaningfully challenged, we all thrive. Discover how you can grow your career, make impact and drive real change with our Winning Team today.
**Working Arrangement**
Hybrid
**The opportunity**
The Variable Annuity Hedging (VAH) team, 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 market risks associated with variable annuity (VA) and indexed universal life (IUL) products.
There are two sub-groups within 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 specifically tasked with identifying our risk exposures and designing 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 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.
- IR swaps, equity futures, bond futures, FX futures, total return swaps, equity/index 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, product and pricing teams on hedging programs targeting in-force and new business, as well as drive hedging improvements.
- 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 VAH, specifically fund mapping decomposition of target indices into tradable instruments.
**What motivates you?**
- You obsess about customers, listen, engage and act for their benefit.
- You think big, with curiosity to discover ways to use your agile approach and enable business outcomes.
- You thrive in teams and enjoy getting things done together.
- You take ownership and build solutions, focusing on what matters.
- You do what is right, work with integrity and speak up.You share your humanity, helping us build a diverse and inclusive work environment for everyone.
**What we are looking for**
- Have at least 5 years’ experience working in finance/capital markets.
- 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.
**What can we offer you?**
- 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.
**Our commitment to you**
- Values-first culture
We lead with our Values every day and bring them to life together.
- Boundless opportunity
We create opportunities to learn and grow at every stage of your career.
- Continuous innovation
We invite you to help redefine the future of financial services.
- Delivering the promise of Diversity, Equity and Inclusion
We foster an inclusive workplace where
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