Reporting to the Director, Broker Services and Mortgage Product, The Manager, Mortgage Policy is responsible for proposing, implementing, and routinely updating residential mortgage underwriting policies, procedures, and guidelines. The successful candidate will stay abreast of industry trends and best practices to deliver policy enhancements that align with the Bank’s strategic objectives and regulatory requirements.  This position requires a deep understanding of mortgage products, regulatory frameworks and the policy development and implementation process.

Position Responsibilities:

Policy development and implementation

Ensure the design, development and implementation of origination and servicing credit policies for Residential Mortgage Products are effective.

Identify, evaluate, and address opportunities to enhance credit risk policies in support of new mortgage products/programs, product enhancements, portfolio performance, changes to the industry and regulatory landscape, and business operations.

Recommend and socialize enhancements to the residential underwriting standards, based on experience, market changes, portfolio and regulatory landscape.

Prepare and assess credit risk proposals and providing Senior Management with sound recommendations for changes to credit adjudication and account management policies, regulations and major business initiatives. This includes assessment of new program/product, new pilots or pilot extension or program renewals, etc. Following up approval conditions that may be established as part of Credit Committee’s approval to ensure that the business implements required conditions.

Work in close collaboration with technology, sales, underwriting and operations to ensure credit policies and strategies are implemented accurately, production issues are identified and fixed in a timely fashion.

Roadmap

Create and maintain the policy roadmap for mortgage products to ensure competitive product positioning and end-to-end advisor & customer experience for the Bank’s mortgage products.

Conduct data analysis to validate existing policy parameters and assess impact of changes. Ensure timely tracking and monitoring of policy and strategy changes.

Performance Analysis

Review and conduct analysis of existing policy and portfolio trends to identify, promote and lead opportunities to recommend changes to enhance performance and overall customer experience.

Review and conduct analysis of existing policy and portfolio trends to identify, promote and lead opportunities to improve client experience, optimize risk and return through the credit cycle, improve the efficiency and effectiveness of policy and procedures including streamlining, automating, and standardization; recommend changes to enhance performance and overall customer, broker and advisor experience

Market Analysis

Conduct comprehensive market research and competitive analysis to identify trends, customer preferences and growth opportunities within the mortgage market

Maintain in-depth knowledge of risk related federal and provincial legislation requirements and external insurance company polices, including changes in, and emerging issues related to, the competitive landscape, the Bank's regulatory environment and the potential impacts on Residential Mortgage lending products.

Prepare regular reporting on product performance and market insights for senior management

Benchmark mortgage policies against industry competitors

Required Qualifications:

Bachelor’s degree, preferable in Business, Finance, Economics or a related field

Minimum of 5 years of experience in any of the following areas: Credit adjudication/underwriting or policy management, mortgage product management in the financial services industry

Proven track record of successfully developing and implementing mortgage policies

Expert level knowledge of mortgage products, underwriting and the regulatory environment

Experience in secured lending and real estate policies is preferred

Preferred Qualifications:

Strong analytical skills and the ability to design and interpret information/data required to monitor the performance of credit portfolios are essential.

Exceptional written and oral communication skills, including a developed ability to present to audiences of varying backgrounds and expertise

Strategic thinker with good judgment and strong understanding of process

Ability to work effectively in a fast-paced and dynamic environment

Strong financial skills, solid deductive reasoning, sound judgement and creativity

Strong skills in strategic influencing and working collaboratively with cross functional business partners, and with external vendors

When you join our team:

We’ll empower you to learn and grow the career you want.

We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.

As part of our global team, we’ll support you in shaping the future you want to see.

#LI-Hybrid

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.

Primary Location

Working Arrangement

Salary range is expected to be between

If you are applying for this role outside of the primary location, please contact recruitment@manulife.com for the salary range for your location. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.

Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact recruitment@manulife.com for more information about U.S.-specific paid time off provisions.