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Job Description

This position has primary responsibility for the implementation of a cost-effective banking model, for managing operational cash through banking relationships and bank account structures that meet the needs of Manulife’s operations. This includes leading and owning the guiding principles of our operational banking model; re-evaluating, re-designing, and implementing cost-effective operational banking model to manage our operational cash efficiently, while streamlining all existing bank account opening and closing processes, globally. The position is specifically responsible for implementing the legal and control framework supporting all parent and subsidiary banking arrangements (this includes all legal documentation, banking contracts and signing authorities) relating to the firm’s banking relationships. This position is the primary contact with all Banks, Company Legal departments and internal Divisional Coordinators concerning account openings, closings, signing authorities and service requirements.

This position has a significant customer service focus while also requiring adherence to legal and regulatory requirements and tight daily and monthly deadlines, with 2 -4 FTEs including offshore staff in MBPS. The incumbent is also responsible for maintenance of the Bank Account Management (BAM) system, to include the payment, analysis, and reporting, for the firm’s bank service fees. The BAM system is the Company’s official book of record for banking data and the Manager is responsible for ensuring the accuracy, integrity and completeness of the firm’s bank account and legal information housed in the system.

Treasury operations department processes more than fifty-three million (53M) transactions each year, with value exceeding two trillion, six hundred billion dollars (2,6 trillion) across twenty-nine (29) banking partners and more than eight hundred (800) bank accounts; and administers Manulife’s fourteen billion, eight hundred thousand dollars (14.8B) liquidity pool. The Bank Operations Management team is a global team within Treasury Operations, supporting bank account management for all Manulife entities in North America, Europe, and Aisa.

Key Shared Accountabilities:

• Manage the day-to-day operations of the Bank Operations team. This includes full responsibility for North American (US, Canada, Caribbean) bank account openings and closings, preparation of bank legal documentation, maintenance and control of Company banking resolutions and signatories and payments/booking of bank service fees.
• Work closely with Asia Treasury and other regional Treasury officers to ensure the account opening and closing processes for Europe and Asia are being completed within existing procedures. Manage the maintenance of bank account information globally for all operational bank accounts, to include North America, Europe, Asia, and the Caribbean.
• Accountable for successfully managing the day-to-day relationships between business units and Treasury Operations regarding the continually changing needs and priorities for operational banking services, transactions, and activities.
• Build relationships with banking partners with a view to improving communication and service quality for day to day operational activities between Manulife Treasury Operations and our banking partners.
• Manage the process of reporting and analysis to track bank service fees, earnings credits, overdraft interest and credit interest. This would include the production of monthly management reports by the deadlines. This would also include investigation of variances from plan / material credit positions and follow-up with the appropriate areas with a view to facilitating corrective mechanisms.
• Accountable for the day-to-day management of North American banking relationships, including implementation, negotiations, escalation / problem resolution, banking models, supporting scorecards, metrics and reporting. Participate as required with the global oversight role that Treasury is implementing. This requires close coordination with the Treasury Operations Advisory Team.
• Arrange, coordinate & lead meetings with our banking partners to review operational performance, issues and escalations and any other operational topics that needs to be addressed with our banking partners.
• Periodic review and renegotiation/update of banking arrangements to include but not limited to overdraft fees, transaction fees, bank account structure, transaction limits, interest rates arrangements etc. Where significant renegotiation is required, coordinate the process with the Treasury Advisory group.
• Maintain a current and easily accessible list of all banking arrangements with the key banking partners to include but not limited to overdraft fees, transaction fees, bank account structure, daily transaction limits, interest rates arrangements etc.
• Responsible for the maintaining the Bank Account Management software, ensure data integrity – accuracy, relevance and completeness of banking information and documentation saved in the system .
• Represent the Operations team on projects or working groups impacting North American and global bank accounts and/or banking services. This includes working closely with Business Units, Treasury Advisory team and external partners to develop and/or implement value added banking solutions.
• Establish and communicate banking policies to all units globally. Ensure an appropriate control environment is maintained and that Treasury is aware of all global banking relationships and bank accounts. Identify and recommend opportunities to streamline Bank Relation practices through review of current policies and procedures.
• Build relationship with and work closely with other managers and team leads in the Operations team (Cash Desk, CMO, MBPS, Advisory) to ensure streamlined and efficient processing of daily banking transactions to include escalations and queries with our various banking partners.
• Coach and develop Bank Operations Management staff to improve efficiency, ensure continuity and high level of service quality to Business Units and other Treasury Operations teams.
• Maintain awareness of banking trends and changes in the financial services industry; make recommendations and/or proposals to the Director Treasury Operations and /or the Treasury Operations leadership team to enhance, improve and or simplify current banking practices.

Job Requirement:

• Thorough technical knowledge of cash management and banking principles, services, and systems in various countries (primarily Canada and U.S.).
• Expert knowledge and understanding of the firm’s banks, bank account structures, banking services and systems.
• Ability to develop and maintain strong business relationships with both internal and external stakeholders. Thorough understanding of customer service as it relates to the delivery of cash management and banking services in tight timeframes.
• Strong negotiation and problem resolution skills, particularly, with respect to legal contracts and agreements.
• Superior technical skills including Excel and Word.
• Strong analytical and problem-solving skills, with the ability to analyze, navigate and resolve complex situations.
• Thorough understanding of control/risk principles as they relate to banking functions.
• Strong interpersonal, communication and organization skills.
• Demonstrated leadership capabilities with a service oriented interpersonal style.
• Proven capability in listening, motivating, and managing change effectively. Ability to adapt to and meet multiple, tight deadlines and work well under pressure.
• Good business judgment with the ability to juggle changing priorities and assign resources to high priority projects to meet the firm’s obligations.
• Bachelor’s Degree or other Post-secondary education in commerce, business, management, or related discipline; with minimum of 5 years progressive work experience in a related field.
• Other professional treasury certification such as the CTP is a distinct asset.

Problems/Challenges:

• Implement cash management strategies and principles and an integrated global banking structure that meets the often, conflicting needs and priorities of multiples business units/divisions.
• Requires effective negotiation and influencing skills with internal and external personnel at various levels, without having full management authority.
• Rationalize the current banking relationships and banking structure while maintaining adequate service levels for existing banking operations and services.
• Reduce overall cost of banking services without a negative impact on services/systems utilized by the Company.
• Fast paced environment with conflicting and changing priorities and deadlines. Impacted by most company-wide and Treasury projects.
• Need to manage total company focus while serving all business units in North America crossing different geographies.
• Manage staff resources in a rapidly changing environment.

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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 .

The annual base salary for this role is listed below.

Primary Location

Salary range is expected to be between

If you are applying for this role outside of the primary location, please contact recruitment@manulife.com 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/John Hancock 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/401(k) savings plans and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in the U.S. includes 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, and we offer the full range of statutory leaves of absence.

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