Career Spotlight: Breaking Into Finance with Manulife Financial

An exclusive interview with Meghan Herman, Manager of Campus Programs at Manulife

By: Kevin Kang, Editor-in-Chief

Meghan Herman, Manager, Campus Programs at Manulife

Interested in a career in finance and investments? If so, then hopefully you’ve already done your research about the different companies that you may wish to work for.  To aid you in your research, this issue’s Career Spotlight features an Arbitrage-exclusive interview with Meghan Herman, Manager, Campus Programs at Manulife Financial, one of the world’s largest financial services companies.  The following interview will provide you with the information you need to know about breaking into the company.  Filled with networking tips and insider information about the positions available to students, this interview is your guide to what your career could potentially look like.

Brief Bio:

Manulife Financial is one of the largest insurance companies in the world, with 24,000 employees and operations in 22 countries.  Whether you’re interested in investments, banking, accounting, or other areas of finance, starting your career in a well-reputed company like Manulife will undoubtedly give you the environment and experience you seek.

Meghan Herman is a seasoned recruitment professional, with several years experience across the financial services industry and in program-specific roles focusing on diversity and recruitment initiatives.  She holds an honours degree in sociology from Wilfrid Laurier University, as well as a post-graduate diploma in Human Resources Management from the University of Guelph.  She’s currently the Manager of Campus Programs at Manulife and is responsible for overseeing the organization’s co-op and new graduate recruitment programs, and in so doing ensuring that Manulife is positioned as an Employer of Choice for top students from schools across Canada.

What kinds of full-time opportunities are there within Manulife for graduating undergrad students?

It really depends on what you’re looking to do.  For example, if you want to get your CFA, our Investment program would offer you a chance to rotate between four different areas of that division, which will allow you to really get a full picture of front, middle and back office investment functions and decide which is best suited to you.  Since we offer a variety of programs, there really are limitless opportunities for the right candidate – if you talk to any employee of Manulife who’s been with the company for longer than five years, chances are they’ve held more than two positions within the organization. We offer global experience, assignments across divisions, and training opportunities. And if you like travel, we have operations in 22 countries and territories!

Are there summer internship/coop opportunities for students who are still in school?

Yes, we hire around 80 co-op students per term into various programs, including the Actuarial co-op program, the Information Systems co-op program, the Accounting & Finance co-op program, the Credit Analyst internship, and the Financial Risk Management Internship.

Can you tell us about the Investment Division Rotational Program?

The Investment Division Rotational Program has four rotations which are approximately 6 months each.  Each rotation will give you a different experience: you could be doing more analysis on one rotation, and on the portfolio management side supporting that function in another.  After you complete the rotations you would have gotten experience in those areas and you would have met people you could network with.  The HR consultant for the investment division will help match you up with the positions you’re a fit for and interested in.  We’ve had 100% success rate in placing candidates once they’ve completed the program!

[pullquote]We look for candidates who are “Type M” – those who stand above the rest, who seek challenges, are looking to increase their knowledge base, and have true leadership potential. [/pullquote]

How much do marks really matter when applying for the Investment Program?

Marks are definitely important, but they’re not everything. We like to see well-rounded candidates with great leadership experience as well as candidates with good grades. You, of course, have to show that you can pass tests and do well in your program, but if you spend all of your time studying then you might miss out on other opportunities to grow personally and professionally.

What advice do you have for students when writing their resumes?

Tailor it to the job, the industry, or the program that you’re applying to. If you’re applying to a financial services company like Manulife, highlight any relevant experience you have, or interests you have, in that industry. Any volunteer activities or extra-curriculars you have are important to include – it’s good to show that you have a life outside of the classroom. Most companies look for candidates with the potential to excel long-term, so anything that points to this should be on there. And of course if you’re looking at getting a certain designation, anything that shows your commitment to it would be good.

What are some other ways for students to stand out against the crowd of applicants?

We look for candidates who are “Type M” – those who stand above the rest, who seek challenges, are looking to increase their knowledge base, and have true leadership potential. In other words, those who are driven, passionate and smart. By demonstrating these characteristics through your passion for what you do or the industry, and by your ability to learn and develop, this will set you above the crowd.

Some students want to break into finance but do not have a business-related degree. Is it still possible to break in?

It is possible, but it’s definitely recommended that you have a business-related degree so that you have the fundamental skills required for a finance-focused and analytical role. There are many opportunities outside of those finance-specific roles at Manulife, as we have a corporate communications, HR, marketing, sales, underwriting, operations, etc. The best thing to do is to check our website and look at the various opportunities available.

Networking is vital, but where can we go to find Manulife representatives to network with?

Manulife representatives, like myself, attend many of the business-related events we are invited to. For example, we go to conferences for finance and accounting because it has to do with the program and it’s a good chance for us to promote Manulife. Often, we’ll be on campus as a team doing mock interviews, a lunch-and-learn, or a networking skills presentation for students. If there’s a finance/accounting networking event at a business school, we’ll try to go. We also try to bring alumni from the school or program who are working at Manulife when we go to these events. And of course, we’re usually on campus doing the fall information sessions as well.

Beyond that, it’s really up to the students. If you have an event you’d like us to attend, or if there’s a student group you would like Manulife to be a part of, just let us know. If the budget is in line and the function is relevant to our business, we’re always happy to participate. We are always looking for ways to be involved on campus beyond fall recruitment.

Also, be creative and look at LinkedIn. You can find Manulife employees in lots of online groups and associations, and reaching out to them online could potentially help you make a connection.

What should students talk about when networking at an information session?

When I ask Manulife representatives what they find memorable when talking to students, the response is usually “when students ask a question that shows that you’ve at least gone beyond the “about us” portion of our website. Try to ask intelligent questions that show that you follow investments and know what Manulife is doing beyond the history of the company and what people generally read. Usually this takes a 15 minute Google search, but it goes a long way.

If you’re not comfortable with that, then you can simply ask them about their careers. “How did you get into Manulife?” or “If you were in my shoes right now, what advice would you give me?” are good conversation starters. These questions make it a bit personal in a professional way; recruiters don’t often get or expect them. It’ll make you more memorable as opposed to simply asking what we look for in a candidate.

What designations have the most value within the field?

I think all of the finance and accounting designations are equally valuable, it really just depends on what your area of interests and career goals are. If you want to get into investments, then a CFA would be most relevant. For those students interested in pursuing their CMA or CGA designation, then we offer a program for those roles as well which will provide them with training and development opportunities toward a career in finance and accounting. And we are also a CA Training Office, so there is the opportunity to obtain the CA designation through a rotational program outside of the traditional CA firm route.

What kind of culture does Manulife have?

Manulife offers a strong, reliable, trustworthy and forward-thinking company culture committed to helping students grow personally and professionally. It’s a culture that provides countless opportunities for career growth and development. It’s collaborative and high performing – we want to hire the best and brightest and that helps to foster a culture of bright leaders. Manulife is also a meritocracy – we believe in rewarding someone based on merit and not just based on the number of years they may be in a particular role. The company offers invaluable experience across diverse financial services that include banking, insurance and investments.

What’s the work/life balance like?

Every role and department and division at Manulife is a little different, but in general we offer a good blend of work/life balance for our employees. Depending on the responsibilities of your individual position, there will be times of the year when you’re busier than others, but by and large Manulife encourages and enables employees to have a life outside of work. In addition to the normal vacation allotment, Manulife employees also get Personal Obligation Days that can be used for anything you wouldn’t want to use a vacation day for. Health and wellness days and initiatives are also an important part of the culture. If you work in the Toronto office, we have a company gym that is subsidized for Manulife employees and offers a variety of classes for those who want to take time out of their work day to fit in some cardio. There is a Staff Association at all Manulife locations that plan events throughout the year for employees and offer discounts on local attractions and events. Manulife also encourages community involvement and volunteer initiatives, so if you’re passionate about a cause, Manulife offers a number of ways in which you will be supported, from financial to time off.

What’s a typical career path like within Manulife in finance?

The nice thing about our company is that there isn’t a “typical” career path for everyone. Most new grads come into a specific program that will support them in obtaining a designation and will give them a variety of experiences in the company. Once the program is completed, they will be in a better position to understand what area of the company and what focus they’d like their next position to be in. Some follow very traditional finance paths, while others make their own and hold a variety of non-traditional roles. A career at Manulife is truly what you make of it.

What advice do you have for finance students hoping for a career at Manulife?

Ask questions. Network as much as you can with people in the industry or company that you’re interested in – even if it’s just a ten minute phone conversation every month or so, it will give you a valuable link to a future career. Volunteer or get part-time work experience in a related environment or field if possible. Be involved in your community, and take every opportunity you can to develop your skills and interests. And learn to like the colour green!

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