Director, Health Finance

Description

The Opportunity

A newly created role to lead and support BU specific and regional initiatives surrounding medical reimbursement and hospital cash to both optimize current health business and prepare the business for the future growth projected within the health book of business over the next five years. Specific focus will be medical in-force management initiatives which consist of both alternate pricing and underwriting models and how they connect to operations specific to the health business.

He/she will manage and maintain a substantial network across BUs and Functions to accelerate in the procurement, classification and usage of data and information best needed to move the health business forward both strategically and operationally. 

The primary metrics to be tracked in this role will be absolute in force earnings, and in particular the uplift achieved through in force management activities (a global KPI), along with several enabling health measures such as in force claims projections and tracking. This role will involve a combination of technical/actuarial understanding, execution skill, and non-technical influence and negotiation to ensure the function remains high on the business agenda and retains buy-in from key enabling stakeholders and senior management, as this role will not directly control most supporting resources. A high degree of problem solving is a must, along with the ability to set clear objectives for teams and drive alignment across specific projects.

What motivates you?

You obsess about customers, listen, engage and act for their benefit.

You think big, with curiosity to discover ways to use your agile approach and enable business outcomes.

You thrive in teams and enjoy getting things done together.

You take ownership and build solutions, focusing on what matters.

You do what is right, work with integrity and speak up.

You share your humanity, helping us build a diverse and inclusive work environment for everyone.

We are looking for someone with:

Academic Qualifications: University degree or higher, with preference to degree in healthcare, medicine or financial related field (Actuary, M.D., Public Health, etc.)

Actuarial background (ASA or equivalent is a plus)

Minimum 10 years working experience in insurance, consulting, employee benefits operations or broking

Medical reimbursement pricing/reserving for group/individual medical products or medical group underwriting in at least one mature market in Asia, 2 or more a plus

Strategic mindset

Proven track record of driving customer centric innovations and strategies

Strong business acumen and analytical thinking, reflected in impact and influence skills and confidence in high level interactions

Financial acumen and experience with financial and other types of management reporting

Strong negotiation, communication, and presentation skills

Contributes to a positive team, supports others, and works well in a multidisciplinary team setting

Financial and Strategic Planning – Understands financial operations, budget cycles, and the impact of strategic frameworks and planning on financial and programmatic projections

Experience on analytics model with focus on claims management is a plus

Soft skill expertise:

Self-starter and ability to work independently upon clarity of direction

Persuasiveness and Influencing Skills (oral and written)

Curiosity – desire to learn more about the health space, initiatives and technologies that can be applied within the Manulife environment

Continuous learner – ability to synthesize information from disparate sources to create a common agenda

Dealing with ambiguity – the flexibility to pivot and work on multiple projects simultaneously (business travel might be required)

Strategic thinking, planning and execution skills

Diversity & Ethics – Shows respect and sensitivity for cultural diversity, treats people with respect regardless of their position or status, exhibits high standard of integrity in decision making, and adheres to extremely high ethical codes of conduct

On the job you will:

Serve as project lead and/or coordinator for BU health and regional projects; especially those focused on in force management and claims projections

Establish appropriate management reporting, leveraging existing processes and information to the extent possible at a regional level, to provide information on the various health in force financial health measures at the appropriate cadence – likely quarterly with more frequent updates on specifics items to be include in the Monthly Management Report (MMR). This will take to form of an “Health In Force Management Dashboard”, with drill down as appropriate. Ensure that such reporting contains “actionable” information and leads to “action-focused” discussion and is not just presented and forgotten.

The key measures will vary by country, but would most include (i) Persistency: rates (vs expected) and financial outcomes (ii) Claims: rates (vs expected) and financial outcomes (iii) Expected Earnings on In Force (EEIF) trend and drivers (iv) Total earnings on in force, at a sufficient level of granularity to be actionable. Medical reimbursement business will be called out explicitly and tracked separately.

Develop and standardize health metrics and data collection & coordination and report development and processes.

Partner with analytics team to leverage data/analytics to develop market leading infrastructure on fraud, waste and abuse prevention and detection.

Claims management financial implications – working closely with colleagues in operations to price out the value of operational changes on the inforce and new business book

Ensure feedback loop of in force learnings to improve new business

More broadly, own Health In-Force, but collaborate with (i) Regional IF Management team to set priorities and targets, provide regular updates and discussion on progress and obstacles, and procure deep dive support as necessary (ii) Country IF Management leads to share best practices and learnings across most of the above responsibilities, and participate and lead cross-country working groups as necessary.

Provide leadership and champion health products and propositions through the health strategy work as well as manage, contribute and coordinate timelines and deliverables for the health strategy

Communication of the health strategic plan and the progress against set goals to local stakeholders

Role model the six values to drive the creation of a new culture across the Health business.

Partner with key stakeholders across local, regional and global teams to enhance and enable capabilities within the business.

Establish and build internal relationships with individuals and groups as stakeholder management to provide regular updates on the performance of the health business

Our commitment to you

Our mission; to be a part of making Decisions Easier and Lives Better

A leadership team dedicated to your growth and success 

A bold ambition and set of goals to be a leader in driving transformation in our industry 

Our best. Every day. 

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