Manager, Private Placement

Are you looking for a supportive and collaborative workplace with great benefits and clear career development? You’ve come to the right place.

Why choose Manulife?

• Competitive Salary packages and performance bonuses
• Day 1 HMO + FREE coverage for your dependents (inclusive of same-sex partners)
• Retirement savings benefit
• Rewarding culture that values wellness and well-being
• Performance Bonus
• Global network of industry experts
• Extensive training resources

The role is accountable for overall leadership and management the Private Placement Team at Manulife Business Processing Services (“MBPS”) while ensuring customer trust is maintained. It plays a key role in advancing Private Market’s strategic initiatives by focusing on automation, process enhancement, high-level reporting, and the development of best practices. The role is responsible for approximately 7 full-time employees (FTEs) within the Private placements team and the active pool.

Position Responsibilities:

Reporting directly to the MBPS Service delivery Function Lead for Alternative Investment Operations, the Manager is primarily accountable for leading the team in ensuring timely, accurate, and effective delivery of services in scope.
 

1. Production support
The Private Placements Manager is responsible for the successful completion of Private Placement settlements and provision of post trade support for Canada, Asia, and US. The individual will work under tight deadlines.

• Ensure timely and accurate settlement of all Private Placement transactions while collaborating with custodians, internal Private Debt/Equity Groups, and external clients to monitor and minimize any interruption of service.
• Process and oversee custodial transactions and security transfers in a timely manner per contractual agreements with the borrower / transfer agent. Perform best practices to safeguard the organization to any potential liabilities when such debt & equity transactions take place.
• Correctly allocate investment income to the proper portfolio / borrower accounts. Track payment schedules and ensure money is received per schedule.
• Operate within established procedures and practices validating clear and concise documentation is generated and maintained as such practices and workflows evolve over time.
• Adhere to and reinforce established SOX documentation as it pertains to Key and Non-Key controls with emphasis on private placement settlement activity. Support new and ongoing audit programs in conjunction with internal and external examiners surrounding the execution of wires through custodial portals.
• Remain familiar with relevant securities industry developments specifically those impacting the activities of assigned portfolios and/or internal clients and custodial service providers. Knowledge of ISO20022 initiatives would be valuable.

2. Managing Production Operations

The role involves efficiently managing the team's daily operations and communicating any anticipated or ongoing issues that may impact service levels. It also includes developing action plans to address potential risks. Additionally, the role ensures that the team's capacity aligns with the required tasks and workload.

• Provide expertise and take responsibility for the effectiveness and quality of service delivery within the Private Placement teams in Private Markets operations.
• Ensure the team follows best practices and encourage process standardization where applicable.
• Take charge of assessing, addressing, and resolving critical business and system issues that occur during operations, engaging in problem-solving and timely investigations with various external and/or internal partners.
• Conduct ad-hoc analyses to identify the root causes of production issues and develop timely solutions.
• Communicate significant production updates and challenges to management and the business unit promptly.
• Collaborate with group and functional risk teams to build relationships and effectively communicate operational risk awareness and management practices.
• Review Key Performance Indicators (KPIs) to detect trends and identify issues.
• In collaboration with Business Units, define and periodically update service level standards, managing the achievement of KPIs as outlined in Service Level Agreements and the Schedule of Services.

3. Team Management

This role entails identifying and defining the team’s training and development requirements, as well as devising strategic plans to address them. The Private Placement Manager is also tasked with conducting performance reviews, offering ongoing feedback, and resolving employee issues. Moreover, they are responsible for supporting, motivating, coaching, and developing staff to foster a high-performing and cohesive team.

• Build and maintain professional relationships with global function leads onshore, establishing feedback channels to align expectations and priorities.
• Guide the team in achieving its organizational goals and objectives.
• Ensure consistent performance management for team members, including goal setting, career development discussions, and performance appraisals and feedback.
• Drive team engagement by promoting participation and/or implementing effective engagement strategies.
• Implement job mapping and succession planning to select, recruit, identify, and retain top talent within the team.
• Ensure all compliance standards for MBPS and the Business Unit are consistently met.
• Manage a growing team with responsibilities that include hiring, coaching, performance assessment, compensation, promotions, and performance management.

4. Projects/Initiatives

Develop, implement, and oversee projects within the team or department. Communicate a clear vision for projects and initiatives that align with the organization's strategic goals.

• Upskill to promote team initiatives by staying updated on industry trends, fostering a learning culture, and identifying skills gaps.
• Participate in workshops and continuous learning initiatives such as: certification programs and / or higher-level education.
• Support and execute key transformation strategies for the group.
• Encourage the exchange of ideas, fostering collaboration and innovation across regional teams within the group.
• Work together on key projects and initiatives, contributing ideas and researching solutions.
• Develop, communicate, and champion the long-term strategy and vision of the Investments group.
• Consult with MBPS GWAM, as well as the Business Unit, on business planning, direction, and identifying opportunities to reduce costs and enhance efficiencies.

5. Reporting / Management Requests

• Facilitate monthly governance call with the Business Unit/Management.
• Occasionally, MDSI and the Business Unit will be asked to provide various reports, fulfill requirements, gather data, engage in discussions, and complete additional tasks. The individual should be capable of managing and balancing their time to accommodate these requests.
  • Prepare management reports, encompassing monthly, quarterly, and annual summaries.
  • Manage operations metrics reports and lead regular business reviews between the Business Unit and MBPS.
• Such other duties and functions as assigned by Operations Management
• Foster inter-department cross training programs to ensure continuity of service. Focus on understanding the complexity of all Privates with acknowledgment of the sensitivity and urgency to resolve any underlying issues while acknowledging international barriers.

Required Qualifications:

• Bachelor’s degree in accounting, finance, or business management. Recognized investment, finance, or accounting designation preferred.

• 5-6 years relevant experience in Private Placements with emphasis on cash management- preferable within a banking organization

• Strong people management experience (3+ years) to lead, manage and develop professional staff.

• In-depth understanding of the concepts surrounding Investments Operations

• Excellent analytical and problem-solving skills with demonstrated ability to work with complex financial issues and concepts.

• Strong communication and stakeholder management skills. Expert strength in facilitating and presenting in large group settings. Strong interviewing, influencing and negotiation skills across the organization.

• Experience working across multiple geographies and time zones. Strong interpersonal skills and ability to work effectively across cultures, geographies and senior leadership.

• Ability to work in ambiguous environment and adapt to change while managing time and workload with aggressive timelines.

• Willingness to understand our clients’ needs and how they operate to support collaboration for future initiatives.

• Innovative thinker with the ability to negotiate, influence and challenge the status quo to continuously improve processes.

• Strong computer skills, with ability to learn and easily adapt to new applications.

• Knowledge of MS office. Understanding custodial banking systems (DTC, CIBC, BNY, BMO, State Street Bank, etc.

• Highly organized with an ability to work in a fast-paced, multi stakeholder environment and manage multiple priorities.

• Flexible working hours and available for overtime as required to meet business deadlines.

Let's make every day better together. Learn about our opportunities at JOBS.MANULIFE.COM

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].

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