This paper presents a model of the bending behavior of a bi-layer cantilever composed of titanium nickelide and a magnetoactive elastomer embedded with magnetically hard particles. The cantilever is initially subjected to an external magnetic field in its high-temperature state, followed by cooling to a low-temperature state before the magnetic field is removed. This sequence results in residual bending deformation. Basic relations describing the material behavior of titanium nickelide and the magnetoactive elastomer are presented. A variational formulation for the problem under consideration is written down. The problem is solved numerically using the finite element method. The influence of the applied magnetic field magnitude and the thickness of the titanium nickelide layer on the cantilever deflection magnitude is studied. The dependence of the residual cantilever deflection on the applied magnetic field is obtained. The possibility of this structure as a controllable gripping element for applications in robotics and micro-manipulation is demonstrated.