The PF should know what's going on anyway - as I said previously, you can see what the thrust is doing from the big gauges on the ECAM/EICAS/whatever, without the need to have a big lever moving backwards and forwards. There are people here who seem to think the word "automation" implies "enjoy the view while the aircraft does its thing".
If the PF is doing his/her job properly, they should be monitoring the level-off, part of which means making sure the A/T is doing its job correctly. If it's not, disconnect it. If you have an engine failure at altitude in the cruise, the aircraft isn't suddenly going to flip on its back without you having a chance to even blink. The same applies to the level off.