Director, Derivative Modeling

The Derivative Modeling team provides modeling and quantitative analysis to support trading, strategic decision-making, risk management, collateral management and financial reporting across Manulife. The Director, Derivative Modeling is responsible for developing advanced valuation methodologies, designing and implementing derivative models, and delivering quantitative solutions to support various business units.

Responsibilities:

• Develop valuation curves and derivative pricing models to support new business initiatives in collaboration with traders and portfolio managers. Monitor model performance over time and drive continuous improvements.

• Execute scheduled model and curve reviews to ensure ongoing effectiveness in alignment with Model Risk Management requirements.

• Address modeling issues in FINDUR by collaborating with the vendor for resolution, developing workaround solutions, and designing internal pricing tools as necessary.

• Build internal benchmarks in Python for mark-to-market calculations, sensitivity simulations, and scenario analysis.

• Provide quantitative support to Derivative Middle Office on valuation anomalies, collateral breaches, curve data source analysis, FINDUR general functionality testing, deal configurations, and curve/model implementation.

Qualifications:

• Advanced degree (Master’s required, PhD preferred) in Finance, Mathematics, Physics, Engineering, Statistics, or Actuarial Science.

• Minimum five years of modeling related experience in the financial services industry

• Strong foundation in quantitative finance and contingent claim theory, with familiarity in market practices for pricing fixed income, interest rate, equity, currency and credit derivatives.

• Extensive knowledge of advanced programming languages (e.g., Python, VB/VBA, C/C++, Matlab), with preference for object-oriented programming experience.

• Experienced user/quick leaner of valuation, market data and trading systems (e.g., FINDUR, Numerix/Fincad, Bloomberg, etc.)

• Proven track record of conceptualizing solutions to complex technical issues.

• Strong communication skills (both oral and written) with the ability to build effective working relationships.

• Self-motivated and hands-on, able to analyze problems, research solutions, and implement them.

• Strong sense of urgency and ability to meet tight deadlines.

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 recruitment@manulife.com.

Primary Location

Toronto, Ontario

Working Arrangement

Hybrid

Salary range is expected to be between

$105,750.00 CAD - $190,350.00 CAD

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 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 recruitment@manulife.com for more information about U.S.-specific paid time off provisions.