Director, HNW Underwriting

With the current focus on scaling High Net Worth (HNW) operations and the development of the HNW Target Operating Model, we anticipate an increase in submission volume. This requires providing customized and dedicated services to specific client segments. The additional headcount will enhance our ability to deliver these services and improve underwriting turnaround time, a crucial departmental goal.

Position Responsibilities:

• Serve as an individual contributor for HNW underwriting.
• Provide accurate and timely underwriting decisions for HNW clients.
• Manage key stakeholders involved in the HNW underwriting process.
• Execute the strategic goals of the HNW department.
• Adhere to business-as-usual (BAU) work processes and ensure service level agreements (SLAs) are met.
• Participate in providing HNW underwriting training to all channels as needed.
• Address increasing sales volume and manage the anticipated growth starting in the 2024 financial year.
• Handle sophisticated client and sales channel requests, which often require extensive coordination with third-party partners, such as reinsurers.
• Provide relief for the existing HNW underwriter, as current staffing is limited. The absence of any underwriter places additional burdens on the team.
• Reduce overtime incurred by underwriters due to increased sales volume. Underwriters have been working extra hours to manage their workload.
• Manage the complexity of HNW applications, which involve numerous mandatory internal (local and global policies) and external (reinsurers, regulatory) processes, leading to increased time spent per case and potential work overload.
• Support the enhanced servicing model, which includes increased engagement with all channels. Our new model involves underwriters directly communicating and handling underwriting appeals from sellers, necessitating close collaboration with sales partners and increased servicing time.

Required Qualifications:

• Minimum 10 years of life insurance underwriting experience, with at least 5 years focused on High Net Worth (HNW) cases.
• Strong knowledge of HNW underwriting principles, practices, and guidelines.
• Proven track record in handling complex applications with multiple mandatory processes.
• Minimum 5 years of experience in stakeholder management and collaboration with sales teams. Familiarity with internal policies (local and global) and external requirements (reinsurers, regulatory bodies). Ability to manage sophisticated client and sales channel requests, including coordination with third-party partners such as reinsurers

When you join our team:

• We’ll empower you to learn and grow the career you want.

• We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.

• As part of our global team, we’ll support you in shaping the future you want to see.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

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 [email protected].