Director, Special Projects and Alternative Investm

The professionalism and talent of our employees is what makes Manulife Financial a successful organization. As a leading provider of financial protection products and investment management services, we depend upon the performance, service, and support of many different business units. Job Description Director, Special Projects and Alternative Investment Valuation-0902373R Description Manulife's Investment Division is a leading global investment manager with offices in Canada, the United States, the United Kingdom, Japan, Australia, Hong Kong and throughout Southeast Asia. Operating globally as MFC Global Investment Management, the asset management division of Manulife Financial, we offer a diversified group of companies and affiliates providing comprehensive asset management solutions for institutional investors, investment funds and individuals in key markets and around the world. ICG Controls and the Accounting Advisory group manage Investment Division programs such as SOX and New Initiative & Large Transaction Approval Programs (NILTAP). The team develops and implements accounting policies including new accounting requirements impacting the Investment Division, provides accounting and controls advice to business units, and leads special projects as mandated by the VP & Investment Controller. This Director, Special Projects & Alternative Investment Valuation is accountable for managing the alternative investment valuation process including reviewing the valuations provided by Portfolio Managers, preparing information packages for the valuation committee and providing advice on valuations to Portfolio Managers in valuing alternative investments. The fair value of alternative investments is required to meet the International Financial Reporting Standards (IFRS). In addition, the incumbent will also be responsible for working with various teams including Systems, Derivative and Securities back offices, Market Risk Management, and other divisions to operationalize complex new transactions based on policy guidance provided. The incumbent will participate in inter- and cross-divisional projects which require ongoing ICG participation/representation, and lead internal changes that are required to be made to Investment Division processes. This role will also fill a critical gap between the policy and operational accounting team in ICG Toronto. Responsibilities: 1. Alternative Investment Valuation Process Administer and manage the alternative investment valuation process, ensuring that appropriate information is provided to the Valuation Committee members to approve the valuations. The Valuation Committee is comprised of senior management personnel from the Investment Division's Front Office and Operations Finance group. Responsible for working with Front Office staff to finalize the scope of valuations that are required to be internally determined and approved by the Valuation Committee. Also establish and maintain all policies, valuations, tools and other documentation on ICG website (with restricted access). Select and perform ongoing review of valuations provided by Portfolio Managers. The Director will provide his assessment of the selected valuations performed by the portfolio managers to the valuation committee and recommend any changes to the valuation methodology and assumptions that require to be made. In addition, the Director will also ensure that there is sufficient support for the valuations that he/she has selected to review. Provide guidance and advice to Portfolio Managers and other business units on valuing alternative investments. Ensure that approved fair values are communicated to appropriate groups and recorded accurately. Update private equity valuation policy as required and obtain approval from the Valuation Committee on significant changes. Monitor accounting developments and industry best practices to assess the impact on the private equity valuation policy and work with Corporate Controllers to write any comment letters to the accounting bodies. Assist with other support required in implementing IFRS requirements with respect to alternative investments valuation. Develop reporting to other divisions with respect to explanation of movements in alternative investment fair values. 2. Accounting Policy Projects Act as a liaison between ICG Policy, Operational and Business teams to implement new business initiatives, complex investments, new tax structures and other projects. Project teams will typically include staff from other departments and divisions. Projects may run for up to six months and can include outside consultants. Work with Accounting Policy Group to coordinate accounting and operational set-ups for new Investment Division initiatives. Work with the Accounting Policy team and the operational groups to implement new accounting standards, policies and other accounting changes. This will include detailed analysis of accounting models, process changes required and any down stream impacts, and coordinate the operationalization of the accounting standard. In addition, the incumbent will also build post implementation oversight controls to ensure that the standard has been implemented appropriately. Provide required documentation to external auditors in order to support implementation of accounting standards, including memos on resolution of policy issues. Coordinate Investment Division support to various subsidiaries. This will include policy, controls and operational accounting model and financial reporting. 3. Special Operational and Process Projects Lead the implementation of all accounting and control change initiatives (account roll-up changes, intersegment accounting, consolidation, pillar structure) as mandated by Corporate Controllers. This will include working with various operational and reporting groups within Investment Division and across other divisions to ensure that these initiatives are implemented on a timely basis and within budget. Develop and implement new processes where required and reengineer existing processes. Provide support in transitioning new processes and controls to ICG Toronto from other groups, where required. 4. Asset Transfers Approve asset transfers between legal entities. This will include obtaining accounting policy advice, ensuring all operational issues are addressed, legal entity controllers are fully engaged and business units understand the impact. In addition, the incumbent will also work with other divisions to develop the transfer policy and models, and provide ICG sign-off with respect to complete and accurate execution of asset transfers. Act as a transfer policy and process liaison between different groups in investments division and other business area controllers. Coordinate ledger set-ups, set up control accounts and ensure proper controls on transfers in coordination with the relevant business units. Maintain appropriate documentation for external auditors to support the accounting for asset transfers. 5. Global Investment Compliance In accordance with the Global Investment Compliance requirements, act as a Business Unit Compliance Officer (BUCO) and Business Unit Records Coordinator (BURC) Develop ICG's records management policy and processes Review and update Records Inventory Set up procedures for maintaining records in compliance with the Records Management Program Qualifications Accounting designation (CA, CGA or CPA). 5-8 years working experience with 3-5 years in accounting operations or asset valuations group in a large financial institution. Demonstrated strong project management skills including the ability to provide leadership, project accountability and coaching. Understanding of fair valuation techniques and industry practices. Ability to identify, evaluate and make recommendations. Excellent analytical and problem-solving skills. Assets: CFA or CBV designation Knowledge of IFRS, US GAAP and SEC regulations Previous experience in an accounting policy department of a financial institution About Manulife Financial: Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers customers a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$437 billion (US$407 billion) as at September 30, 2009. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. Primary Location : CA-ON-*Toronto Organization : Investment Finance Categories : Accounting, Financial, Project Management Apply Online

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