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Senior Associate, Financial Planning & Analysis
New York Life Insurance
Austin, TX, 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 the Long Term Care (“LTC”) Group is responsible for the management reporting of financial results and multi-year financial planning process. In addition, it’s responsible for reporting functional/business performance towards its strategic objectives along with providing ad hoc financial analysis (includes developing dashboards, cost benefit analysis, etc.) and support to all functional areas within LTC.
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
• Support all management reporting activities within LTC and work closely with functional areas and Corporate partners to ensure timely and accurate collection and delivery of financial data
• Work with team members in Finance and larger LTC organization to provide support for strategic discussions on LTC businesses through financial and management information analyses, and reports.
• Answer to ad-hoc financial data request from corporate and business partners in a timely manner, and streamline data request flow by developing a central data repository for relevant financial information.
• Develop understanding of the LTC business and contribute to continual enhancement of analytical framework to support business decision making and measurement of strategic goals.
Qualifications:
• Strong sense of ownership and ability to perform assignments independently
• Ability to multi-task with shifting priorities, with a strong sense of urgency under tight deadlines
• Good verbal and written communication skills
• Candidates pursuing Actuarial track or having Actuarial experience is a plus, but not required
• Proficient in Microsoft Office suite, especially with Excel, Word, Access, and Powerpoint
• Experience with SAP system, SQL queries, Spotfire, or Business Intelligence systems preferred
• Experience with insurance company financial reporting a plus
• Ability to build relationships and collaborate within the team/across the functional areas and organization
SF:EF-MD1
SF:LI-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.