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Senior Associate, Financial Planning & Analysis
New York Life Insurance
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.
The Financial Planning & Analysis (“FP&A”) team for Retail Life and AMN is responsible for the coordination of management reporting of financial results, the multi-year financial planning process as well as the financial support for the strategic and tactical needs for our Retail Life, AMN, Marketing, Agency and Service business partners
Major Responsibilities:
• Support the reporting of quarterly financial results and the multi-year financial plan data, including the development of meaningful financial schedules/trends to illustrate/explain the financial story to senior management
• Perform financial analysis on all key financial metrics across Retail Life and AMN (source of earnings, VNB, IRR, capital, etc)
• Answer to ad-hoc financial data request from business partners in a timely manner, and streamline data request flow by developing a central data repository for relevant financial information
• Develop strong understanding of the Retail Life and AMN businesses and contribute to continual enhancement of analytical framework to support business decision making and measurement of strategic goals
• Collaborate with team members to provide support for strategic discussions regarding Retail Life, AMN and Marketing through financial and management information analyses, and reports
• Support the development of analytical insights and perspectives to the Retail Life, AMN, Marketing, Agency and Service business partners
Qualifications:
• Strong sense of ownership and ability to perform assignments independently
• Ability to multi-task with shifting priorities and a sense of urgency under tight deadlines
• Proficiency with Microsoft Office suite, especially with Excel, Word, and PowerPoint
• Experience with SAP system, BW queries, Spotfire, or other Business Intelligence system preferred
• Experience with insurance company financial reporting a plus
• Ability to build relationships and collaborate within the team/across the organization
SF:LI-MD1
SF:EF-MD1
EOE M/F/D/V
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*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.