Massachusetts Veterans Jobs

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

Job Description

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 Actuarial Modeling group. The role provides 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 modelling. It also provides the opportunity to learn about financial hedging and the derivatives market, as well as interact with many corporate areas and business units.

This role is ideal for a team player who is highly motivated and would like to participate in high profile projects relating to hedging and learn more about the derivatives market. The successful candidate will have the opportunity to develop critical and transferable skills: quantitative, business leadership, communication, systems, programming, and strategic thinking.

Responsibilities

• Become an expert user of our hedging systems. Test and implement 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 modelling.

• Respond effectively to time sensitive requests for information from Management.

• Support regular stress testing and reporting of liabilities and Greeks.

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

• 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 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 cultureWe lead with our Values every day and bring them to life together.

• Boundless opportunityWe create opportunities to learn and grow at every stage of your career.

• Continuous innovationWe invite you to help redefine the future of financial services.

• Delivering the promise of Diversity, Equity and InclusionWe foster an inclusive workplace where everyone thrives.

• Championing Corporate CitizenshipWe build a business that benefits all stakeholders and has a positive social and environmental impact.

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 /John Hancock , we embrace our diversity. We strive to attract, develop and retain a 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 to provide equal 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 with applicable laws and Manulife/John Hancock policies . To request a reasonable accommodation in the application process, contact .

Salary & Benefits

The annual base salary for this role is listed below.

Primary Location

Toronto, Ontario

Salary range is expected to be between

$103,050.00 CAD - $185,490.00 CAD

If you are applying for this role outside of the primary location, please contact for the salary range for your location. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.

Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact for more information about U.S.-specific paid time off provisions.