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canada Derivatives Onboarding Specialist

  • Location
    (CANADA) and Toronto
  • Job Reference
    14863
  • Functional Area/Experience
    Business, Accounting & Finance / 3 Years

Job Description & Qualifications

Are you looking for unlimited opportunities to develop and succeed?  With work that challenges and makes a difference, within a flexible and supportive environment, we can help our customers achieve their dreams and aspirations.

Role

The Derivatives Onboarding Specialist will report to the Director of Derivatives Onboarding within the Global Derivatives Services team. The Derivatives Onboarding team supports the Manulife Asset Management and Life Insurance businesses globally by performing all setup steps necessary for derivatives trading. This role will be accountable for the execution of a best-practices in onboarding and broker relationship management in support of the organization’s exchange-traded, over-the-counter and centrally-cleared derivative requirements.

You will be dedicated, assertive, organized and highly professional. The candidate will have a combination of derivatives industry experience, onboarding experience, relationship management skills, and practical business insight.

Primary Responsibilities:

  • Receive and assess derivatives trading requests from Relationship Management, Product Management and Portfolio Managers.
  • Facilitate the derivatives trading approval process and ensure that there is a governance structure around the onboarding of new accounts trading derivatives.
  • Maintain status dashboards of derivatives approval and onboarding requests.
  • Support Traders need for the best execution by setting up the full range of desired derivatives brokers.
  • Oversee the derivatives trading related onboarding functions for new accounts and new brokers.
  • Manage derivatives trading operational readiness within the Global Derivatives Services team including middle office, operations and collateral management.
  • Coordinate with Legal Services to ensure that proper legal agreements are put in place to support derivatives trading
  • Ensure that all account, broker onboarding and legal documentation is maintained.
  • Maintain an accurate and complete matrix of accounts, authorized derivative products, derivatives legal agreements and active brokers.
  • Contribute to the successful management of external broker relationships.
  • Work with the Derivatives Solutions team to support the setup of technology to facilitate trading of new derivative product types.
  • Take ownership of side projects to clean up records and validate broker setups.
  • Contribute to the harmonization of the derivatives onboarding process with the Asia Derivatives Services team in Hong Kong.
  • Continuously evaluate, identify and recommend practices and controls that will increase process efficiency and mitigate financial and operational risks.

Qualifications

  • Relevant undergraduate education or advanced degree - Business Administration, Finance, Economics, etc. required.
  • Minimum 3 years of meaningful industry experience with at least 1 years of hands-on experience in derivative products.
  • Insurance Company and Asset Manager industry experience an asset.

Position Dimensions (Organizational Impact):

The Global Derivative Services team is responsible for managing nearly $300 billion notional (CAD) of derivative products across the world for the Life Insurance general account and Manulife Asset Management with offices in Boston, Toronto, Hong Kong and Manila. Global Derivative Services includes teams that cover functions such as Back Office Operations, Collateral Management, Middle Office, Onboarding and Regulatory Reform, Accounting functions and their own Business Solutions and Strategy team.

About John Hancock and Manulife

John Hancock is a unit of Manulife Financial Corporation, a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States, and Manulife globally, including Canada, Asia and Europe. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. Assets under management and administration by Manulife and its subsidiaries were CAD$1.3 trillion (US$1.1 trillion) as of June 30, 2021. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.

One of the largest life insurers in the United States, John Hancock supports more than 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and education savings plans. Additional information about John Hancock may be found at johnhancock.com.

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 recruitment@manulife.com.



Job Skills/Competencies Required

  • Familiarity with derivative instruments including repos, TBAs, futures, listed and OTC options, FX, Swaptions, OTC swaps and centrally cleared swaps.
  • Familiarity with derivatives trading and collateral agreements such as Clearing Agreements, Give-Ups, ISDA/CSAs, GMRAs and MSFTAs.
  • Familiarity with MS Office suite.
  • Familiarity with various fund structures: mutual funds, pooled funds, private funds, UCITS, institutional accounts and life insurance general account.
  • Solid interpersonal skills and a high degree of integrity combined with the ability to readily adapt to rapidly changing environments and deal with competing priorities.
  • Teammate with demonstrated experience building and maintaining good working relationships both internally and externally.
  • Excellent analytical skills and the ability to think through problems, assess a variety of factors and recommend solutions.

If you are ready to unleash your potential, it’s time to start your career with Manulife/John Hancock.

Apply now