Group Insurance Finance Manager

7 months ago

Waterloo, Canada Manulife Full time

Job Description

The opportunity

The Group Insurance Finance Manager will directly support the Head of IGP Employee Benefits Network in all financial activities related to IGP’s business mandate and be part of the IGP Management Team, as well as supporting Group Benefits Financial Reporting with a focus on Expense Gain.

The Group Insurance Finance Manager role is accountable for delivering timely and accurate Key Performance Indicators for assessing the IGP financial performance. Part of Group Insurance Finance, the role is expected to use general accounting, finance and reporting expertise, leadership and IGP specific knowledge to deliver reporting and analysis, strategic planning, and recommendations to the Head of IGP and Group Insurance Finance Management team. They are also responsible for Expense Gain Reporting and analysis for Group Benefits.


Responsibilities

Financial Reporting and Controls

Responsible for the monthly IGP earnings statements and governance of IGP results in coordination with Group Insurance Finance. Focus on IGP-specific metrics, including but not limited to: Earned Retention Income (ERI), Paid & Earned Net Deficit Change (NDC), Unrealized FX and FX To Plan, ERI linked to Sales & Lapses. Validation of monthly Expense Report, in coordination with GB Expenses, and monitoring of Expenses to Budget ratios for each IGP Regional Office and Department. Develop ad hoc management information reports in coordination with IGP Administration (including but not limited to Credit Control and receivables management, settlement of OARs, payments of Network Partner contributions, multinational pooling rebates and Captive settlements). Run the financial controls, policies and standards in place; find opportunities for improvement, recommend solutions and coordinate with management for timely resolution.

Expense Gain/ Gap

Responsible for reporting, forecasting and analysis of Expense Gain/ Gap in coordination with GB Expenses Oversight of monthly, quarterly and annual Allowables analysis and forecast Monitoring of fee income product profitability

Strategic Planning

Handle and develop Annual and 3-year IGP Strategic Planning Model, in coordination with Group Insurance Financial Reporting & Planning. Responsibility for the Quarterly Earnings Forecast including key IGP metrics and in coordination with Group Insurance Financial Reporting & Planning. Manage and Develop Expenses Budget model for all IGP Regional Offices and Departments, with particular focus on the following: Zero-Based Budgeting overall approach, allocation of recurring vs project-based expenses, allocation of capitalized expenses and operations expenses where applicable, management of charges from Shared Services and Business Support functions.

Commercial support

Liaise on an ad hoc basis with IGP clients’ finance partners (e.g. Captive/Pool clients’ finance directors) and provide subject matter expertise to IGP commercial teams. Liaise on an ad hoc basis with Network Partners’ finance function, in coordination with IGP Head of Network Partner Management. Participate to industry events and broker meetings when appropriate.


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

Post-secondary education in accounting and accounting designation is required Minimum of 5 years of finance/accounting experience Confirmed strong leadership, strategic thinking and personal effectiveness competencies: negotiating and influencing skills, adaptability to change and continuously showing initiative Strong collaboration within the team and across various units in the business and shared centers Proficiency with Microsoft Office and ability to learn new applications quickly Knowledge of Essbase, Lawson will be an asset Excellent analytical and problem-solving skills and ability to explore and understand complex financial processes Proven ability to manage multiple, conflicting priorities and deliver a quality result within tight deadlines Finance background with IGP or GB experience preferred


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 everyone thrives. Championing Corporate Citizenship
We build a business that benefits all stakeholders and has a positive social and environmental impact.

#LI-Hybrid

About Manulife and John Hancock

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. At the end of 2022, we had $1.3 trillion (US$1.0 trillion) in assets under management and administration, including total invested assets of $0.4 trillion (US $0.3 trillion), and segregated funds net assets of $0.3 trillion (US$0.3 trillion). 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

At Manulife/JohnHancock, we embrace our diversity. We strive to attract,developandretaina 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, 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.

It is our priority to remove barriers toprovideequal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent withapplicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact

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