Chief Product Officer, Hong Kong and Macau

Role Summary:

This is a senior leadership role with a significant impact on the financial performance of Manulife Hong Kong through his/her primary accountability for product strategy, product development and pricing.

The Chief Product Officer role assumes responsibility for the entire product strategy and development process including propositions, pricing and marketing actuarial. He/she is responsible for all dimensions of the product solution offerings, including sales, profitability, risk management, business planning and strategic planning.

In addition to the strategic side, one key job dimension is the address the regulatory requirements in an increasingly regulated and demanding environment.

The Chief Product Officer is accountable for Hong Kong GN16 regulations for all product lines in Insurance and Other Wealth. The job incumbent will represent Manulife on various industry task forces, with strong influence to the industry bodies and regulators to make sure the changes take into account the business realities of Manulife and other companies from an implementation perspective.

General Accountability:

Hong Kong is a Business Unit responsible for the conceptualization, manufacture and delivery of Protection, Wealth Accumulation and Retirement solutions for Individuals in Hong Kong.  The product lines include Whole Life, Universal Life, Medical Plans, Critical Illness Insurance, Personal Accident Insurance, Whole Life Savings Plans, Endowment Plans and Indexed Link plans. As such it has a very broad scope.

Position Responsibilities:

• Lead, manage, train and develop the competencies and skills of a team of Direct Reports and staff toward the achievement of the mandates of this function within

• Plan for succession and contingency, and actively develop our managers and staff to their next level of career progression

• Manages sales targets, New Business Value (NBV), market share position, product mix, as well as profitability and risk profile

• Own the annual new business plan, and form product roadmap and business strategy

• Maintain high staff engagement level

• Leverage the soft-skills, know-how and experiences from other markets that are suitable and adaptable for Hong Kong & Macau

• Engage other functional teams within and outside of Products so as to secure sufficient resources, including IT resource support, and solicit commitment and delivery of our product roadmap and strategy on schedule.

• Ensure our products are appropriately priced and our initiatives financially viable with risks well managed whilst delivering innovative and customer-centric solutions to meet consumers’ and distributions’ needs

• Be an active member of the Senior Management Team by participating in the strategic and tactical decision-making process

• Ensure regulatory and company internal standards and guidelines pertaining to our business are well managed and uphold our reputation

• Own the internal product approval process by engaging HK management and regional / corporate product risk management

• Monitor and review the Company’s actuarial experiences on a regular basis, and recommend management actions

Knowledge/Skills/Competencies/Education:

• Bachelor degree holder and fellow actuarial qualification is preferred

• At least 15 years of working experience in the insurance industry

• Proven people leadership skills

• Experience with product development, marketing and pricing is preferred

• Familiar with various life, health and investment insurance products available in the market

• Exceptional understanding of business financials and actuarial standards

• Strong business acumen, influential and able to lead through changes

• Able to maintain good relationship with other functional heads, reinsurers, business partners and distribution heads

• Good written, presentation communication and senior stakeholder management and ability to navigate and influence different departments to drive the right outcome for the organization

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 recruitment@manulife.com.