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Business Analyst
New York Life Insurance
Jersey City, NJ, 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.
Job Purpose:
The Business Analyst has business competency within the specific line of business and superior analytical skills. This position interacts with business, conducts analysis, and documents business processes, functions, capabilities, requirements, etc.--all enabled by IT. The Business Analyst will interact with business and IT delivery stakeholders to define requirements, and ensure functionality is delivered per specifications.
About New York Life:
New York Life feels different than other companies. We’re passionate about serving our customers. We collaborate. We give back. We deliver our best, but never at the expense of our values. If those things are important to you, then consider New York Life. We’ve been doing business like this for more than 165 years, and we keep getting better.
About the projects:
The job focus will manage financial service IT CRM technology projects related to the Distribution and Marketing organization within the New York Life Investment group. Projects are associated to solutions involving Customer Relationship Management Systems (Sales Force), Digital Marketing (Eloqua), Service Center Technologies, Data Warehouses/Data Marts, Business Intelligence and Analytics.
Primary Responsibility:
• Have LOB specific business competency with analysis skills
• Interact with business, conduct analysis and document business processes, functions, capabilities, requirements, etc., enabled by IT
• Performs a liaison between the business and IT Services
• Translate and simplify requirements
• Verify that the implemented solution meets the requirements
• Identify and articulate the need for change and assessing the impact of the change
• Analyze and interpret business and user requirements into functional requirements and specifications that have an appropriate level of detail suitable for use by the development implementation teams
• Solicit client requirements using walk-through, document analysis, storyboards, use case scenarios, business analysis, task and workflow analysis
• Write clear and concise requirements ensuring that requirement statements are complete, consistent, concise, comprehensible, feasible, unambiguous, and verifiable.
• Support project managers to ensure key deliverables are met in an accurate timely manner assisting in the troubleshooting of problems and issues; make recommendations and provide alternative solutions when it applies
• Leverage technical architects and factor in architectural planning into decisions and recommendations
• Determine operational objectives by studying business functions; gathering information; evaluating output requirements and formats
Education - Degrees/Certificates
• Bachelor degree with relevant experience required
• Business Analysis CBAP or equivalent certification a plus
Experience:
• 5 + years of business analysis experience
• Experience working in Financial Services Industry and in Investment Management is desirable, specifically as it relates to Mutual Fund and Annuities products. Previous experience with Distribution and Marketing platforms such Business Intelligence, Content Management, Campaign Management and CRM a plus
• Demonstrated ability to understand and articulate and document business requirements
• Understanding of the financial services industry and businesses (e.g., Investment banking or Asset management, Operations, Capital markets, and Compliance).
• Previous experience leading & supporting an Investment Management/AUM implementation as a Project manager, Business Analyst or in a similar capacity is preferred.
• Experience working directly with Sales, Service, Marketing and Senior management teams to identify and prioritize requirements across multiple cloud software, data, and API integrations.
• Demonstrated ability to deliver, within budget, quality solutions while coordinating multiple assignments / deadlines
• Experience in working in a team-based agile or waterfall development environment
• Demonstrated ability to learn and apply new technologies as the need arise.
• Previous experience with a financial services organization a plus
• Experience conducting current state vs. target state analysis, gap fitment, scope management
• Experience with and understanding of large scale software integration implementation
Preferred Level:
• 5+ years
• Experience and familiarity with Insurance and Financial Services business systems strongly preferred
Skills:
• Strong written, verbal and communication skills with the demonstrative ability to work with all levels within the organization
• Strong analytical, decision-making and problem solving skills. Accuracy and attention to details are required
• Sound organizational skills to work in a fast-paced environment and manage multiple priorities
• Working knowledge of Word, Excel, PowerPoint, MS Project, Quality Center, SharePoint, Visio, CI Clarity PPM tool is a must
• Visio expertise is required, Rational Rose/ Blueprint tool knowledge is desirable
• Uses best practices and knowledge of internal or external business issues to improve products or services
• Understanding of the following:
◦ CRM - SalesForce
◦ Campaign Management - Eloqua
◦ Business Intelligence - Spotfire, Live Office, Business Objects, Informatica
◦ Web Content Management - Vignette, Java
◦ Collaboration - Sharepoint, Jive
• Understands key business drivers; uses knowledge of best practices and the competition to improve processes and procedures
• Requires advanced level of expertise in own discipline and knowledge of related disciplines
• Interprets business challenges, identifies trends and recommends best practices
• Understands Agile Methodology
SF: LI-CC1
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.