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Head of Third Party Risk Manager
NYLIFE Securities, Inc.
New York, NY, United States
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New York Life Insurance Company is the largest mutual life insurance company in the United States. Founded in 1845 and headquartered in New York City, New York Life reported 2017 operating earnings of $2.06 billion. Total assets under management at year end 2017, with affiliates, totaled $586 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 independent rating agency commentary as of 8/1/17).
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.
Responsibilities:
• Manage NYL’s third-party risk program which includes assessing and mitigating the risk of new and existing third-party suppliers
• Manage and enhance the current governance model to provide ongoing monitoring and oversight of the risks posed by third-parties
• Monitor and update third-party risk assessment framework to respond and adhere to new and existing regulatory guidelines and initiatives
• Ensure highest priority risk topics have the strongest controls, diligence and reporting.
• Develop reports for use by business areas and senior management regarding third-party risks
• Identify and escalate key items of concern regarding new and existing current third -parties
• Chair cross-function third party risk committee
• Partner with OGC, Chief Risk Officers, business areas and others in the second and third line of defense to identify third-party risks and escalate those risks appropriately
• Actively engage and participate in working groups among stakeholders including Technology, Vendor Management, Procurement, Compliance, and OGC to find ways to mitigate identified risks
• Coordinate and help deliver third-party risk education and training programs for the business units
Qualifications:
• 10-15 years minimum of related experience within Insurance, Banking or Asset Management preferred
• A bachelors' degree
• Excellent Executive and Board level communication skills
• Broad and deep third-party risk technical knowledge
• Strong people management, internal consulting, and partnering skills
• Ability to influence with or without authority to achieve desired outcomes
• Balance and successfully manage competing priorities
• Strong industry participant with knowledge of best practices
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