AVP and Chief Compliance Officer, Group Benefits

Job title: AVP and Chief Compliance Officer, Group Benefits

Job description: We are a leading financial services provider committed to making decisions easier and lives better for our customers and colleagues around the world. From our environmental initiatives to our community investments, we lead with values throughout our business. To help us stand out, we help you step up, because when colleagues are healthy, respected and meaningfully challenged, we all thrive. Discover how you can grow your career, make impact and drive real change with our Winning Team today.

Working Arrangement

Hybrid

Job Description

About the Role:

Reporting to the Canada Segment CCO, the Group Benefits Chief Compliance Officer (GB CCO) will partner with the compliance team and business leaders on various compliance initiatives, including, but not limited to, regulatory compliance management, marketing reviews, interacting with regulators, planning and delivery on initiatives in support of compliance and business objectives.

Group Benefits (GB) offers various products, services and support programs to plan sponsors and members such as health and wellness, medical and disability benefits. The International Group Program (IGP), a global network of major insurance companies established to provide group employee benefits solutions to its multinational clients also falls under the accountability of this business function and within the GB compliance program.

As second Line of defence, the GB CCO is responsible for the independent oversight of compliance with laws and regulations within GB including ensuring the adequacy and efficiency of compliance processes and status of compliance. The CCO is responsible for ensuring policies and procedures are in place that enable compliance with laws and regulations, and for the day-to-day monitoring of these frameworks. As part of this role, the successful candidate will also have accountability for regulatory change initiatives across the insurance businesses and other business divisions as may be required.

The GB CCO will establish close working relationships with Legal, Risk, Internal Audit and Regulatory Affairs partners. This incumbent also works closely with Compliance peers and their teams within Canada Compliance and globally, including shared services and centers of excellence teams (for example, privacy, ethics and anti-money laundering). The GB CCO is a member of the GB management team and partners with business unit and functional group leadership.

Responsibilities:

• Compliance oversight to ensure regulatory risks are appropriately handled and effective regulatory compliance management processes and controls are in place to align with regulatory requirements, policies and guidelines. This includes ensuring that timely, accurate, relevant and risk-based advice is provided to 1st line control leads.
• Build and maintain policies and procedures to ensure compliance with regulatory requirements and supervise for Compliance. This includes:

• Fair Treatment of Customers, Market Conduct and Distribution, Marketing, AML, Privacy, Fraud Prevention, etc.
• Providing advice and mentorship to GB senior management on compliance, regulatory risk, ethics, conflict of interest and reputational risk.
• Championing and assisting GB senior leadership in encouraging a culture of compliance and ethical business conduct across the business.
• Ensuring that quarterly reporting to the Segment CCO, and that significant compliance issues are raised to senior management in a timely manner. Also, ensuring that compliance issues GB face are recorded in Manulife Archer Database for remediation and tracking purposes.
• Regular reporting to GB leadership on the overall efficiency of our programs.
• Advising the business on compliance matters affecting day-to-day operations.
• Advising on regulatory compliance risk related to new products, features, distribution or compensation arrangements or other projects as needed.
• Leading all aspects of the development and execution of 2nd line control testing programs to provide reasonable, risk-based assurance that the 1st line has implemented suitable controls to address critical compliance risks and that those controls are operating optimally.
• Leading all aspects of review, design and implementation of improvements to the compliance program to address findings arising from regulatory reviews, audits, testing and self-assessments, or to increase the overall effectiveness and efficiency of the function.
• Handling compliance budgets, as well as ensuring adequate staff levels are maintained and sufficient resources are available.
• Responsible for talent management, including the development of current staff and ensuring in place strategies will attract and retain appropriate compliance personnel and champion employee engagement.
• At a segment level in collaboration with peer CCOs and business strategy leads, this role will also lead and coordinate the segment-wide process by which regulatory change that impacts all Canadian businesses are provided (including regulatory requirements) to the business for appropriate delivery by the business in a manner that is consistent across the segment and helps ensure compliance with those requirements in a timely manner (including in the annual budgeting/funding for regulatory change projects within each business).

Proficiencies:

• 10+ years of proven track record in the financial services industry, with at least 5 years of progressive experience in regulatory compliance, or risk and controls.
• Niche knowledge in the group insurance business or health insurance industry would be considered an asset.
• Professional designation (LLB, CPA or other) a definite advantage.
• Independent approach consistent with OSFI’s expectations that the compliance function will have and demonstrate the authority to perform its functions independently.
• Significant experience in leading large and sophisticated compliance functions within financial institutions.
• Strong people leadership skills and the ability to build and lead successful teams.
• Strong dedication to diversity, equity and inclusion, and takes pride in building a Compliance team that brings together diversity of thoughts, perspectives and expression.
• Excellent oral and written communication and can influence at all levels of the organization, including senior management.
• Recognized as a senior decision-maker on very sophisticated compliance issues and projects.
• Understanding of regulatory requirements and Compliance issues that arise in various lines of business within the finance industry (e.g., life insurance, wealth management, securities, group benefits and retirement savings, banking).
• Ability to lead a large number of relationships with senior managers and to handle the inherent conflicts that can exist between compliance and organizational objectives.
• Bilingualism (French, English, both oral and written) is an asset, not a requirement. If based in Quebec you will have frequent interactions with English and French-speaking colleagues or internal partners across Canada or worldwide.

What can we offer:

• A competitive salary and benefits packages.
• We offer a growth trajectory that extends upward and outward, encouraging you to follow your passions and learn new skills!
• A focus on growing your career path with us.
• Flexible work policies and strong work-life balance.
• Professional development and leadership opportunities.

Our commitment:

• Values-first culture

We lead with our Values every day and bring them to life together. * Boundless opportunity

We build opportunities to learn and grow at every career stage. * Continuous innovation!

We invite you to help redefine the future of financial services. * Delivering the promise of Diversity, Equity and Inclusion

We foster an inclusive workplace where everyone thrives. * Championing Corporate Citizenship

We build a business that benefits all partners and has a positive social and environmental impact.

#LI-Hybrid

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Asia, Canada, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. At the end of 2022, we had $1.3 trillion (US$1.0 trillion) in assets under management and administration, including total invested assets of $0.4 trillion (US $0.3 trillion), and segregated funds net assets of $0.3 trillion (US$0.3 trillion). We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong.

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 .

Salary & Benefits

The annual base salary for this role is listed below.

Primary Location Toronto, Ontario

Salary range is expected to be between $120,400.00 CAD – $223,700.00 CAD

If you are applying for this role outside of the primary location, please contact 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 for more information about U.S.-specific paid time off provisions.

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