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Corporate Vice President, Business Strategy & Analytics
NYLIFE Securities, Inc.
New York, NY, United States
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New York Life Insurance Company (“New York Life” or “the company”) is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterrey New York Life in Mexico.
New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2016 operating earnings of $1.954 billion. Total assets under management at year end 2016, with affiliates, totaled $538 billion. As of year-end 2016, New York Life’s surplus was $23.336 billion**. New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody’s Aaa; Standard & Poor’s AA+. (Source: Individual Third Party Ratings Report as of 8/17/16).
Financial strength, integrity and humanity—the values upon which New York Life was founded—have guided the company’s decisions and actions for over 170 years.
Role Overview:
The Corporate Vice President (CVP) of Business Strategy and Analysis will support strategic and analytical projects to achieve the long-term strategic goals in Eagle Strategies LLC. The CVP will use advanced expertise in a wide range of tools for sales/AUM analysis, process analysis, requirements development and documentation. Proven ability to add value to the business by supporting the most complex projects that typically involve multiple systems, new technologies, and multiple stakeholders who may have competing and/or conflicting needs.
Business Analysis:
• Lead the development and delivery of the monthly Eagle Strategies Sales & AUM performance reporting; perform monthly read out of results to President/CEO of division
• Produce ad hoc analyses, quarterly scorecards, and benchmarking studies to measure and track department goals across several areas including Operations, Financial Planning, and Sales Support.
• Identify opportunities for database and reporting enhancements, provide recommendations on appropriate solutions for analytics, reporting and database projects, gather and translate business requirements into clearly defined and easily understood recommendations.
• Manage and analyze various data sources including Advisor production/behavior, customer segments/demographics, and market/economic information
Competitive Intelligence:
• Conduct industry and competitive research including analysis of peer companies in the wealth management industry to support of the overall business strategy
• Produce ad hoc thematic research documents that educate senior leadership on current industry topics and trends
• Maintain the team’s competitive repository of information, including competitor tear sheets, comprehensive / in-depth analysis of selected peers, and competitive league tables
Project Management:
• Manage off-shore consultant resources on various databases and report automation projects
• Liaise with various departments regarding data related project issues
• Manage relationships and projects with external vendors in support of the overall data strategy
Financial Analysis:
• Perform financial and capital budgeting analyses including cost/benefit analysis, CAPM, pricing models, and financial ratios analysis
• Generate financial models that compute metrics such as NPV, ROI, IRR, and Payback Period from different cash flows
Qualifications
• Bachelor's degree required (Finance/Economics), MBA preferred, or CFA or progression towards designation preferred
• Desired backgrounds include business development, strategy, data analytics, or management consulting
• 7+ years of related experience
• Must be highly proficient in Excel and PowerPoint
• Must have some knowledge of databases, report automation and analytic technologies
• Financial Modeling, Statistical Modeling, Report Automation, Application Development and Database Management
• Knowledge of the Wealth Management Business; maintains current knowledge of industry and trends and is able to apply that knowledge to existing business processes
SF:LI-LB1
EOE M/F/D/V
*Based on revenue as reported by “Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, June 17, 2016. See http://fortune.com/fortune500/ for methodology.
**Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company’s long-term financial strength and stability and is presented on a consolidated basis of the company.
1. Operating earnings is the key measure use by management to track Company’s profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US (GAAP), with certain adjustments Company believes to be appropriate as a measurement approach (non GAAP), primarily the removal of gains or losses on investments and related adjustments.
2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.