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The Portfolio & Cash Services team (“PCS”) works within the Fund Administration group of John Hancock Investments to oversee risk and operations for the John Hancock Group of Funds (“The Funds”). The Funds include over 225 traditional 1940 Act mutual funds, ETFs, and UCITS across 900 share classes. Over 30 sub-advisers cover the spectrum of investment strategies.
PCS supports fund events, monitors cash management activities, oversees closed-end fund compliance, and provides various investment enhancement services. These services include securities lending performance monitoring, collateral management, derivative exposure analysis, foreign account documentation, commission recapture, complex security approvals, and ad hoc research supporting senior management requests.
The technical and operational services within PCS consist of the following areas:
Fund Events – internal and external party coordination, operational design and troubleshooting
Cash oversight – analysis of Fund balances, reviews of charges, research of industry best practices
Closed end funds – oversight of leverage and collateral management
Securities lending – oversight of agent lender and collateral investment trust performance, research of industry trends
Complex securities – operational review of subadviser investment and market requests
Foreign country documentation – oversight of service providers and coordination of process flows for completion of paperwork
OTC derivative collateral oversight – analysis of OTC exposure at a fund complex level, reviews of subadviser best practices, research of industry trends and regulatory changes
Custodian oversight – oversight of custody and trading operations
Vendor oversight – KPI monitoring, process improvement, remediation plans
Board Reporting – design and write quarterly updates
The Director will report to the Assistant Vice President of PCS. The incumbent will co-manage a team responsible for oversight of operational processes for the Funds. The Director will also be individually responsible to lead cross departmental projects and initiatives relating to activities such as cash oversight, fund events (launches, mergers, liquidations, large asset transitions), collateral management, derivatives, and securities lending. The Director will be the primary relationship management contact for a variety of external service providers, regularly interface with John Hancock Investments’ senior executives, and present briefings to internal senior management Committees.
Responsible for co-management of the team/direct reports (50%) and independently lead efforts to oversee team projects/task management (50%).
Co-lead a team of Supervisors and Senior Analysts including the design of team structure, risk controls, work assignments, training, process improvements, and hiring/onboarding.
Act as a direct manager for 4-5 team members. Oversee job duties, coach/mentor individual career development, and perform administrative approvals.
Project manage high risk initiatives and programs related to fund operations, technology implementations, vendor RFPs, contract negotiation, onboarding/offboarding vendors, and research of industry trends / regulatory topics
Oversee the operations and daily exception research associated with liquidity resources (lines of credit, interfund lending), custodian and subadviser cash management, collateral management, and large asset transitions
Design and review quarterly Board of Trustees materials, other routine reports, and ad-hoc reports for senior management such as Funds’ exposure to various instruments, operational impact of regulatory changes, or performance of overnight cash investments.
Act as department relationship contact for the Funds’ service providers. Design oversight of vendor supported programs. Review daily exception reports. Vendors include sub-advisers, custodian banks, transfer agents, line of credit providers, and securities lending agents.
Represent Fund Administration in cross-departmental Committee meetings, Fund Event strategy sessions, due diligence meetings, and industry conferences
Direct team research related to derivatives exposure, sub-adviser cash management, securities lending, and other topics as requested by senior management. Remain up to date on news and regulatory matters impacting PCS tasks and assist with policy development. Champion the implementation of industry best practices within the department.
Coordinate the Cash Management Committee in the review, approval, and monitoring of liquidity facilities, subadviser cash management, and securities lending program activities
Structure transition strategies and project plans for fund events such as mergers, fund launches, mergers, liquidations, and large asset transitions
Oversee documentation required for foreign account openings, maintenance, and tax relief
Assist Complex Securities Committee research for the review, approval, and monitoring of complex instruments or foreign market settlement risk
Assist AVP in resolving open issues
Oversee the documentation of team procedures and workflows; identify opportunities and drive initiatives for process improvements
Support internal and external audits of mutual funds and team processes
Work with Tax Department to ensure Funds are filing tax documents with local sub-custodians timely
Play a lead role in Robotic Process Automation initiatives
Provide on-going coaching to direct reports to enhance learning and other related programs
Minimum eight to ten years leading a team or having direct supervisory authority over a team.
Minimum eight to ten years of relevant industry experience in mutual fund operations, asset management, or financial analysis is required. Advanced degrees and industry relevant (MBA, CFA, CPA) are preferred
In depth knowledge of 1940 Act mutual funds and UCITS including accounting and custody operations. Expertise in cash management, security movement, lines of credit
Awareness of GAAP, SEC and other regulations pertaining to mutual funds, and industry standards
Demonstrated team building and motivation skills, superior communication skills in a variety of media (presentations, memos, etc), ability to effectively influence stakeholders, ease in collaborating at all levels of an organization
Excels at operating in a fast pace, deadline driven, collaborative environment
Must be a team player, self-starter, well-organized, innovative, and possess a high level of initiative
Polished executive presence; Ability to develop and maintain positive business relationships with peers in business units and at vendor partners
Process design and improvement
Audit and controls
Ability to interact with senior management
Strong presentation skills
1940 Act investment accounting
Ability to manage multiple projects simultaneously
Ability to design and deliver articulate, professional, and concise communications to a variety of audiences
Custodian services, trade operations, reconciliations
Advanced excel (if statements, vlookups, pivot tables, ability to analyze & normalize large data sets)
Ability to build vendor relationships
Ability to develop an industry network
Act as coach and mentor
About John Hancock Financial and Manulife
John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people achieve their dreams and aspirations by putting customers’ needs first and providing the right advice and solutions. We operate primarily as John Hancock in the United States, and Manulife elsewhere. 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 over $1 trillion (US$806 billion) as of September 30, 2017. 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 approximately 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and college savings plans. We also offer advice through Signator, a network of independent financial advisors. Additional information about John Hancock may be found at johnhancock.com.
Agency submissions and contacts are by invitation only and must be initiated by John Hancock's Recruiting Department only. Unsolicited agency submissions will not be honored.
JOHN HANCOCK IS AN EQUAL OPPORTUNITY EMPLOYER - AA/F/M/D/V