Business Process Senior Associate

We’re looking for a Business Process Senior Associate to join our Insurance Operations team at MGS. In this role, you are responsible to reviews contracts of clients and handles their financials (partial & full surrender and transfer of funds to other carrier) and non-financial transactions (generate quotation request and create tax cost basis letters) in a timely manner.

Position Responsibilities:

• Review of contracts containing client’s Personal Identifiable Information (PII) and other account details that may result into compliance issue when disclosed.
• Handle requests in a timely manner since requests are financial in nature and requires immediate handling to avoid any negative financial impact on the company and clients.
• Work on extended shift schedule during the team’s peak seasons (Quarters 1 & 4) to finish off requests that needs to be handled immediate.
• Review and process partial and/or full surrender requests from client with amount ranging to $10 up to more than $1M with financial impact to the company and clients; if handled incorrectly, may result into financial loss.
• Check available guaranteed amount and process scheduled payment from clients timely to avoid delays which may cause escalation and feedback from clients.
• Prepare quotations with estimated and actual amounts from the system for clients upon request; with risk of misinformation that may cause incorrect amount requests for clients.
• Review tax forms and update applicable systems for tax withholding requests of clients that may result into incorrect tax payment if handled incorrectly.
• Calculate annual distribution amount for client’s required minimum distribution using the spreadsheet (calculator) to make sure payout amount is correct and accurate. Incorrect calculation will result into adjustment of the transaction which will result into financial loss for the client.
• Process one-time and/or systematic trades based on the funds or portfolios where the contracts are invested in with the risk of high dollar loss ($1K above) depending on the value of the funds and the stock market.
• Determine and process excess contribution penalties subjected to the plan holders when they deposit more than what they are eligible to contribute to their plans.
• Process surrender requests from clients to other carriers with risk of sending or transferring out contract/s with high dollar value ($1K above) to different or incorrect carriers.
• Review and process bulk management fee requests from clients that requires immediate handling to avoid delays and financial loss.
• Maintain and update work inventories, time trackers and other reporting documents pertinent to the process accordingly to avoid delays and disruption in the process.
• Meet and maintain productivity, accuracy and service level standards and deadlines on the above-mentioned transactions to avoid Performance Development Plan.

Required Qualifications:

• Graduate of any 4-year Business Degree course
• Proficient in MS Office Applications (Word, Excel and PowerPoint)
• Fast computer typing skills (35 words/minute and up)
• Strong verbal and written communications skills are required
• A good eye for detail and sharp analytical skills

Preferred Qualifications:

• Preferably with previous related work experience (at least 1 year) in the financial services or BPO industry and demonstrated service aptitude.

When you join our team:

• We’ll empower you to learn and grow the career you want.
• We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.
• As part of our global team, we’ll support you in shaping the future you want to see.

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].