Manulife

Director, Pharmacy Benefits - Product Development


PayCompetitive
LocationToronto/Ontario
Employment typeFull-Time

This job is now closed

  • Job Description

      Req#: JR23060525

      We are a leading financial services provider committed to making decisions easier and lives better for our customers and colleagues around the world. From our environmental initiatives to our community investments, we lead with values throughout our business. To help us stand out, we help you step up, because when colleagues are healthy, respected and meaningfully challenged, we all thrive. Discover how you can grow your career, make impact and drive real change with our Winning Team today.

      Working Arrangement

      Hybrid

      Job Description

      Supporting 25,000 plan sponsors and over to 4 million members, Group Benefits differentiates based on the products, services, and the experiences we deliver. With $10B+ in premium equivalent this annually renewable business supports employers of all sizes from all sectors across Canada. Staying current with trends, anticipating emerging needs and responding with ‘best in class’ solutions is essential to remaining a tier 1 carriers in a very competitive market.

      Over the past few years we have been undergoing a transformation – shifting to more flexible solutions, where intuitive and delight plan member experiences are core of our service deliver and product design. In the Pharmacy benefits space success means understanding the pharmacy ecosystem and all of the key stakeholders, private and public in order to optimize drug plan spend. At Manulife we strive to strike the perfect balance to achieve value for the sponsor, the member and their family, and society through improved health outcomes.

      Reporting to the Director, Pharmacy Benefits, Group Benefits, this position is accountable for leading and refining and articulating the Pharmacy Benefits product development, leading the implementation of product enhancements, and providing input into the management and optimization of product features to ensure it continues to be competitive in the marketplace. At a time when new therapies are emerging at an unprecedented rate and at an unprecedented cost, this role takes on the challenges of slowing the growth curve, without compromising health outcomes and experience.

      In addition, this role participated in client presentations, representing Manulife’s pharmacy benefits and overall health and wellbeing strategy, and reviews the economic impact of new drugs coming to market.

      Key Accountabilities:

      • Ensure a relevant and concise product shelf that has a positive impact to sales and persistency
      • Collaborate with Business Insights and Advanced Analytics teams to deliver actionable customer insights and identify clinical intervention opportunities.
      • Lead key product projects from inception to launch executing the product projects and initiatives to meet business plan objectives
      • Support RFPs and/or participate in finalist presentation, participate in capabilities presentations, distribution roadshows and industry events
      • Collaborate and influence across teams and boundaries , utilizing contacts to build and strengthen teamwork, performance and efficiencies
      • Partner closely with multiple internal key stakeholders from across Marketing, Pricing, Underwriting, and Distribution to ensure that the value proposition of the product is well articulated for our customers
      • Build and monitor KPI reporting framework to ensure delivery of strategic product roadmap and track performance of operational model. Track, measure and report successes, trends and anticipated business to manage resources effectively
      • Establish and oversee continuous improvements in processes and functions to increase efficiencies and employee capabilities

      Job Requirements (Education, Experience, Knowledge, Skills and Competencies):

      • Pharmacist or Pharmacy consulting background – Nice to have
      • Strong Group Benefits knowledge
      • Strong work experience and demonstrated success in project management, application of Agile principles
      • Ability to develop and articulate the product strategy (understands Manulife’s pharmacy product offerings and features) which includes research, business casing, product development, execution and measurement
      • Be a thought leader in the context of the Canadian Group Benefits industry, anticipating trends and identifying areas of opportunity. Be on the forefront of seeing and understanding disruptive solutions and strategic thinking as it relates to the industry, platform economic model and beyond through research and analysis of global disruptors.
      • Demonstrated track record in execution and delivery .
      • Strong financial acumen
      • Ability to challenge, coach and enable staff members to develop to their fullest.
      • Ability to work across a complex environment – both internally and externally to lead teams with multiple mandates and differing value drivers.
      • Understanding of the changing landscape of healthcare and advances in medical technology and the impact this has on health outcomes.

      Key Problems/Challenges:

      • Ability to manage competing priorities, balance service delivery and support to internal customers with execution of growth initiatives.
      • Staying in tune with rapidly evolving health care and wellness landscape.
      • Manage risk within the product portfolio
      • Influence across all areas of GB and at all levels on product strategies

      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

      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 .

      Salary & Benefits

      The annual base salary for this role is listed below.

      Primary Location

      CAN, Ontario, Toronto, 250 Bloor Street East

      Salary range is expected to be between

      $100,500.00 CAD - $180,900.00 CAD

      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.

  • About the company

      Manulife Financial Corporation is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario, Canada.

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