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Senior Tax Associate
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.
Position Summary
Member of Tax Department Federal Tax Function assisting in federal tax process including tax accounting and tax compliance for both non-life insurance and life insurance companies.
• Review/Prepare federal and state tax returns and related workpapers.
• Assist with consolidation of the federal tax return including required workpapers.
• Assist as required with quarterly estimated tax payment calculations.
• Assist/Perform in the tax return information gathering process inclduing interaction with controllers and business unit personnel.
• Prepare/Assist US GAAP and Statutory current and deferred tax provisions including preparation of supporting workpapers.
• Assist/Perform provision to tax return computations.
• Review/compile information necessary to respond to the information requests from the IRS.
• Perform tax research and analysis. Work on special projects as needed.
• Assist on various tax technology projects.
Major Responsibilities
1. Prepare/Assist with quarterly and year end US GAAP and Statutory current and deferred tax accounting.
2. Review/prepare federal and state tax returns and related workpapers.
3. Assist with various tax technology projects
4. Assist as required with the consolidated federal tax return.
5. Assist with IRS and state tax examinations.
6. Perform tax research and analysis projects.
7. Work on special projects as needed.
Qualifications
• BS/BA in Accounting or Finance; Master's Degree desirable --MS or MBA but not required
• 8+ years of experience
• Understanding of tax accounting and tax compliance processes for insurance companies and non insurance companies
• Good excel and other tax technology skills
SF:LI-MD1
SF:EF-MD1
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.