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 Asia. Operating globally as Manulife Asset 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. Manulife Asset Management manages a broad range of investments including equities, government and corporate bonds, real estate, mortgages, oil and gas, timber, agriculture and structured products. The Investment Division is a significant market player with more than C$305* billion in assets under management.
The North American Mortgage Administration Department, Investment Division, is comprised of three units, Mortgage Servicing, Mortgage Accounting and Mortgage Systems. The department is fully responsible for the maintenance and administration of all mortgages which are invested as a portion of the Company's net assets in Canada and the United States.
This position is responsible for conducting collateral reviews on the Company's commercial mortgages assessing overall risk associated with each investment, and forecasting possible problem areas.
Collateral Reviews (50-60%)
Conduct collateral reviews for assigned portfolios (CMHC and Conventional, including Mortgage Bonds) in accordance with North American Collateral Review and Credit guidelines. Review includes valuation of the property, site inspection, input of data to review program, analysis of borrower creditworthiness based on results of the review, lease review, environmental assessment, and determination of risk rating based on an evaluation of the overall risk associated with the investment.
Maintain awareness of Real Estate market across North America.
Prepare valuation reports, including site inspections for Mortgage Officer and management review and approval.
Maintain Collateral Review results/ reports for Senior management, OSFI and internal and external audit review.
Data Entry and Update (25-40%)
Manage, track and review the results of the annual requests for information from borrowers
Manage, track and review the annual site inspection process for all loans, in all portfoliosEnter and update rent rolls and operating systems, and site inspections
Assist in the analysis and documentation of other monthly reports as assigned
Manage the mortgage portfolio information held within mortgage systems.
Origination System Development and Support (10 - 15%)
Provide both development support, and trouble shooting support for users of the inhouse NALOS system, including the new RiskAnalyst application.
Assist in the development and maintenance of the bridge between systems so that data can be shared properly, and on a timely basis.
Report Preparation (10 - 15%)
Assist in the preparation and update of monthly (Rating Change, Delinquency, Past Dues Maturities) and quarterly (Watchlist/EM) reports of mortgages that have dropped below Manulife's Mortgage Credit Policy of standard acceptable ratings, for management review.
Preparation of various other bi- monthly and monthly reports as assigned.
University or College degree in Business, Commerce or a related discipline would be useful
Understanding of terminology and fundamentals of the Real Estate or Mortgage business
3 to 5 years of previous working experience in a Real Estate or Mortgage environment
Strong to expert computer skills particularly with Access, Word, Excel, and Business Objects
Completion or enrollment in technical Real Estate and/or Mortgage courses toward professional designation
Strong analytical skills; attention to detail
Strong interpersonal skills with the ability to build relationships with Investment Division personnel and external clients
Ability to apply theoretical concepts and knowledge of business in day-to-day activities
Ability to exercise judgment in analyzing and preparing loan valuations
Well organized, able to work independently
Ability to identify alternative sources of information in order to complete tasks. For example, if there is a loan in an outlying town without sales statistics available, the incumbent must work with branch and head office personnel to determine how to find the necessary information. This could be using external market leaders or competitors for information, information available from the branch office, or contacts available through head office personnel.
Ability to prioritize numerous requests for information while managing a heavy workload with a high level of accuracy.
Position Dimensions (Organizational Impact):
Responsibility for completing approximately 250 annual collateral reviews (1 to 2 per day) for management review and approval. Approximately 1,800 loans and $8 billion, representing the entire Canadian Mortgage portfolio - this is managed by the North American Collateral Review (NACR) team in Canada, comprised of 5 Associates, and 3 Analysts
Support the North American Collateral Review unit which manages about 3,000 loans comprising a CAD 21.0B portfolio.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$512 billion (US$512 billion) as at March 31, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
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
CDN Inv & Gis
08 Jun 2012 23:59:00
Banking, Financial, Insurance Manulife Financial - 12 months ago