AVP & Actuary, US Finance Business Partner

Manulife • Boston, MA

1d • Hybrid

About The Position

The AVP & Actuary, US Finance Business Partner will lead a team of 5-6 responsible for supporting the US Insurance business from a Finance perspective. Accountabilities include financial support and analysis of US Insurance initiatives, US new business profitability planning, reporting and forecasting, US sales reporting and forecasting, US Sales Incentive Plans (SIP), and US Segment IFRS planning and forecasting. To succeed in this role, the AVP & Actuary will not only oversee planning, forecasting, and reporting but will also actively identify and drive opportunities to improve US segment results and be a key Finance business partner for the Head of US Insurance.

Requirements

• Strong finance background
• 10+ years of experience in the insurance industry
• Fellow of the Society of Actuaries (FSA) or equivalent
• Strong organizational and priority management skills with the ability to lead multiple projects and manage the work of others to achieve high quality results under deadline pressure
• Excellent communication and interpersonal skills to deal with both technical and non-technical audiences and customers.
• Ability to step back from the details and take a bigger picture view of the business to identify hidden risks and opportunities.
• Expertise in the Company’s key measures of profitability on both an IFRS and US Statutory basis, including Core Earnings, Return on Equity (ROE), Contractual Service Margin (CSM), New Business Value (NBV), and Lifetime Return on Capital (LROC).
• Strong understanding of John Hancock’s product portfolio, in particular products open to new business.
• Knowledge of Canadian and US financial reporting and regulatory standards.
• Analytical and problem-solving ability combined with strong technical actuarial skills.

Nice To Haves

• championing the use of AI

Responsibilities

• Lead, manage, develop, and motivate a diverse, professional team of 5-6
• Demonstrate leadership and influence as a key member of the US Finance Leadership Team and US Insurance Leadership Team
• Provide financial support and analysis of US Insurance and other growth initiatives
• Act as Finance Business partner to Head of US Insurance, supporting key initiatives from a financial perspective
• Contribute financial support and advice for the development and prioritization of business strategies and plans, client proposals and other business activities
• Provide financial review of new product initiatives including assumptions and pricing reports
• Work with Pricing and Inforce Management teams to develop strategies to maximize capital and tax efficiencies
• Represent US Finance as a member on the US Insurance Leader Team (ILT)
• Partner with US Strategy to review and sign off on the financial aspects of business cases in the Book of Work
• Review and approve value of initiatives attributed to AI and Digital
• Collaborate with Pricing to prepare annual New Business Plan for products open to new business
• Lead new business profitability (i.e. NBV, NB CSM, LROC) reporting and forecasting
• Perform Macro/Portfolio Level New Business Profitability Analysis
• Identify and drive opportunities to improve new business growth and profitability
• Oversee New Business sales reporting including the production of the executive-facing Daily Production Report, month end sales reports, and quarterly sales reports (such as external submissions for LIMRA sales reporting)
• Manage monthly sales forecasting process, including policies and applications
• Manage financial aspects of the US Sales Incentive Plan (SIP), including modeling of plan design, calculating monthly advances and quarterly/annual true ups, and populating quarterly statements for employees.
• Collaborate with FP&A team to deliver: Annual Business Plan
• Deliver Monthly financial forecasts to produce financial projections of earnings, CSM, and new business metrics
• Monitor business performance against plan / forecast and provide quality analysis with key drivers of business results as well as recommendations to help drive company growth (including collaboration with ALM and Investments to understand and improve the Net Investment Result)
• Develop relevant documents to drive business plan discussion and approval
• Improve processes: make tasks automated and more efficient while strengthening controls and reducing risk, including championing the use of AI
• Fulfill ad hoc requests for the JH CFO, as well as other teams and Senior Management

Benefits

• 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.
• various retirement savings plans (including pension/401(k) savings plans and a global share ownership plan with employer matching contributions)
• financial education and counseling resources.
• up to 11 paid holidays, 3 personal days, 150 hours of vacation, and 40 hours of sick time (or more where required by law) each year
• full range of statutory leaves of absence.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: No Education Listed