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The Portfolio Modeling Team is responsible for developing investment models for Manulife/John Hancock, which are used to calculate reserve levels, for risk management activities, and for other critical business functions within the company. These models are also used to forecast investment portfolios for the Investment Plans for approximately 140 Business Segments. They are also critical tools for the Insurance Business Units’ (US, Canada, Japan and Asia) use in evaluating the adequacy of reserve levels, as well as for Asset Liability Management (ALM), who uses the models to rebalance portfolios in Risk Management activities. Accuracy and timeliness are critical measures of success. Models are populated with investment parametric data (e.g. coupon, maturity, par values, etc.), cash flow data (e.g. projected sinking funds and amortization) and return assumptions (e.g. dividends and appreciation).
AXIS is an actuarial software platform that houses and projects investment and insurance liability data. AXIS models are sent to Corporate Actuarial on a quarterly basis and to monthly to ALM and Market Risk Management (MRM). AXIS models are delivered monthly to ALM, who use these models to identify risk exposures (e.g., duration and target asset allocation mismatches) and to rebalance portfolios as necessary.
Actuarial Model Development (85% of time)
Gather investment accounting information from various internal sources (e.g., derivatives from Findur, bonds and stocks from the Market Value Data Warehouse, mortgages from Enterprise [Mortgage Accounting system]), screen and question information to ensure accuracy, populate data into GGY AXIS models. Once AXIS models are populated, run reports as requested by Managers and Directors and send for review. Ensure portfolio yields and durations are viable and accurate. Balance the model’s assets to the General Ledger and escalate any issues and concerns to the Sr. PM’s or Mgr, PM.
For the Quarterly AXIS report: Populate additional information such as yield curves, spreads and re-investment strategies as directed by the Mgr, PM.
Gain understanding about information required for reserve calculations as prescribed by the Superintendent Office of Financial Institutions.
Miscellaneous (15% of time)
Assist on ad-hoc projects as assigned, Summarize reports for presentations, Research material as necessary, participate in department meetings as requested and provide general support for all department staff when necessary.Qualifications
Bachelor's Degree in Mathematics, Finance or Management Engineering
Basic understanding of investment theory and terminology and financial accounting concepts. This may be derived from academic study or work experience.
Must have the ability to perform basic analysis and explain basic, less complex models involving interrelated variables.
General knowledge of MS Suite, with an aptitude to learn Macros (e.g. Visual Basic); relational databases (e.g. MS Access); actuarial models (e.g. GGY AXIS).
Excellent comprehension, analytical and decision making skills
Keen attention to detail
Strong interpersonal and communication skills, demonstrating the ability to work cooperatively in a team environment.
Knowing how to identify when a problem exists with valuations and escalating the problem to the appropriate level on the team for resolution
Manulife Financial Corporation is a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2016, we had approximately 35,000 employees, 70,000 agents, and thousands of distribution partners, serving more than 22 million customers. At the end of 2016, we had $977 billion (US$728 billion) in assets under management and administration, and in the previous 12 months we made almost $26 billion in payments to our customers.
Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
Manulife is committed to supporting a culture of diversity and accessibility across the organization.?? It is our priority to remove barriers to provide equal access to employment.? A Human Resources representative will consult with applicants contacted to participate at any stage of the recruitment process who request an accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially. Category: