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Auditor
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.
General Profile:
• Assist with various phases of financial and operational audits in the Company's Home Office, field offices, and subsidiaries in the U.S. and international locations. Specifically, the Auditor will:
• Assist with the planning of the aduit.
• Attend meetings with clients to gain an understanding of their business processes and related risks and controls.
• Document their understanding in flowcharts and narratives.
• Design audit tests to evaluate controls over key risks and/or financial statement balances.
• Document any observations and issues that arise from those audit tests, and follow-up with the client.
• Document all audit work in automated work papers.
• Bachelor's deree, preferably in Accounting or Finance; any prior experience in an accounting or auditing role a plus.
• Excellent oral and written communication skills, and good interpersonal skills.
• Self starter and analytical, ability to work independently.
• Willing to travel (approximately 10% - 20% domestic and international travel in addition to occasional travel to offices in the tri-state area).
• CPA or CIA candidates preferred.
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.