Actuarial Modeling Expert

2 weeks ago

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

We are a leading financial services provider committed to making decisions easier and lives better for our customers and colleagues around the world. Our company values innovation, diversity, and inclusion, and we strive to create a work environment that fosters growth and development for all employees.

Job Summary

The Variable Annuity Hedging (VAH) team, within the General Account Investment Division, is responsible for establishing and managing hedging programs at Manulife Financial. This position is within the Actuarial Modeling group, providing the opportunity to develop a strong understanding of our hedging programs and various aspects of VA and IUL, such as product features, hedging strategies, financial reporting, capital, and modeling.

Key Responsibilities
  • Become an expert user of our hedging systems, testing and implementing 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 modeling.
  • Respond effectively to time-sensitive requests for information from Management.
  • Support regular stress testing and reporting of liabilities and Greeks.
Requirements
  • 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.
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 everyone thrives.
  • Championing Corporate Citizenship: We build a business that benefits all stakeholders and has a positive social and environmental impact.

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