Head of Policy Management, Hong Kong

Overview

Reporting to COO, Hong Kong & Macau, the Head of Policy Management is responsible for servicing the growing in force block for Individual Financial Products (IFP) and Group Life & Health (GLH). This includes overseeing policy management for IFP and ILAS, new business enrolment and servicing for GLH, renewal and administration for GLH, rider additions for IFP and customer due diligence (CDD).

In addition to servicing the in force block, he/she will is also responsible to run the following functions including Billing, Collection & Disbursement, Corporate Correspondence and Statements, Suspense Account Management, Policy Changes, Line 1A controls on AML/FATCA/CRS and suspicious transaction review as well as centralized operational services including Enterprise Solutions & Services, Payment operations, Contracts, Printing, scanning & indexing.

This position will also be the Subject Matter Expert to provide input on all payment related projects, and pursue optimization activities to ensure we automate and digitize our policy management process and reduce overall unit cost on an on-going basis.  The teams reside in HK, Chengdu and Manila.

Responsibilities:

• Lead the Manage & Review team, including IFP and GLH sub-teams, to drive digitalization, location strategy and Straight Through Process (STP).

• Responsible for leading the Central Intelligent Administration team (CIA) to centralize scanning, payment and document preparation and drive effieciencies

• Responsible for suspense account management for Operations in MIL. This includes suspense accounts reconciliation and clearing through automation, achieve compliance to internal policies and external regulatory requirements for managing outstanding suspense balances, and roll out process that drives transparency and accountability in reporting suspense account status to regional and global Operations stakeholders.

• Partner with departments/functions regionally and locally to drive cost containment related to in force policy services and processes eg. work with procurement, regional and local IT, regional and local Finance to drive cost savings in areas of printing, contracting and bank fees; look for opportunities to enhance/optimize current processes, particularly through adoption of Low code/no code to expedite delivery of services to customers and to our agents, etc.

• Liaise and service all distribution channels, providing regular updates to agency, banca, and broker forums on new initiatives

Accountabilities (Individual / Shared):

Individual Accountabilities:

• Adhere to SLA (TAT, end to end cycle time, unit costs) and SOPs; adhere to our risk and reporting framework

• Drive e-submission efforts and service requests utilizing the digital collateral

• Maximise end to end STP including driving up STP enabled features adoption

• Ensure customer communication services (SMS, emails, statements) are prompt and appropriate to support customer communication delivery

• Be the point of contact and face of Hong Kong & Macau policy management, such as representation at regional monthly operational review, agency monthly meeting, MCV task force and others

Key Shared Accountabilities:

• Work with Marketing and Agency to drive.                                                                                                                                                     

Knowledge/Skills/Competencies/Education:

The following knowledge / skills / competencies / education are needed:-

• Degree holder preferably in Computer Science &/or MBA

• Own strong Growth mindset and Customer First mindset

• Results driven leader, with the ability to challenge status quo

• Demonstrated ability to communicate effectively, both written and verbal, with good stakeholders management

• Technology savvy

• Good and creative problem solving and analytical skills

• Ability to influence others and move toward a common vision or goal

• Flexible and adaptable; able to work in an ambiguous environment

• Resilient and tenacious with a propensity to persevere

• Forward thinking with a holistic approach

• Anticipate risk / issue and resolve it proactively

Problems/Challenges:

• The role will require to work across the organization in different functional areas, e.g. Regional Procurement, Regional Technology, Business Units, Legal & Compliance, IT, BA, Operational teams and actively interactive with senior management team (SMT)

• Strong project management skills to implement the strategic initiatives

• Keep abreast of the latest regulatory requirements / trends i.e. payment channels promoting by the HKMA, Cross Boarder Insurance cooperation in the Greater Bay Area

• Strong leadership skills to orchestrate the solutions that need close cooperation among different units

• Well articulate complex problems and present to executive team

• Understand the leading practice applying digital solutions and the technology trend i.e. mobile application, web technology, printing & workflow technology

• Challenge the status quo and business operations to make changes with support of fact and data.

• Be flexible to wear different hats in the dynamic environment to understand the business needs.

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].

Hybrid