Corporate Vice President, Guaranteed Income Annuities Product Manageme

Recruiter
New York Life Insurance Company
Location
New York
Salary
Competitive
Posted
Aug 13, 2017
Closes
Aug 18, 2017
Role
IT
Industry
Accounting
Employer Type
Direct Employer
Employment Type
Permanent
Hours
Full Time
Job Board
NYCityWorks.com
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.
Today, it is rare to find a company that has demonstrated financial strength, integrity and humanity through the most challenging economic times that our country has faced. New York Life and its employees have been there for policyholders through good times and bad.

When others compromised long-term security for short-term gains, New York life held firm to its values, and not only survived, but experienced double digit growth in sales and market share. Come, grow and make a real impact with us!

Description
New York Life is looking for a highly qualified individual for its Income Annuities Product Management and Development Team. New York Life has been the #1 provider of income annuities for 11 consecutive years with total sales of $4.4B in 2016. The candidate will be a major component in driving the management of the Income Annuities product line with a focus on developing a product suite that meets consumer needs, is consistent with external markets, suitable for our distribution channels and adds value to the company. This position will report into the Head of the Guaranteed Income Annuities product line.

Primary Responsibilities
  • Collaborate with cross-functional resources to drive product development from ideation and focus group research, to business specification, business planning, development and implementation.
  • Support in preparing written summaries for senior management covering new product ideas, project status updates and developments within the Guaranteed Income Annuities marketplace.
  • Serve as a subject matter expert for all questions and projects related to the Guaranteed Income Annuities product line.
  • Lead cross-functional teams with diverse skill sets, including representatives from marketing, project management, IT, legal, compliance and sales in executing product initiatives.
  • Preparation of detailed presentations, proposals and recommendations.
  • Support in educating and training sales specialists on current product line, new product ideas and sales concepts.
  • Support in driving product approval/on-boarding and business development opportunities with strategic third-party firms.
  • Research and analyze industry trends, competitors and product characteristics to support product development activity while alerting the appropriate stakeholders, as needed.
  • Develop periodic competitive packages and train, as needed, key stakeholders on trends in the industry.
    Qualifications, Education and Experience
  • 5+ years experience with annuity products.
  • Excellent communicator who is able to express ideas in writing and orally in an eloquent and engaging manner.
  • Understanding of annuity product design, product positioning and distribution markets.
  • Knowledge of annuity business economics is a plus.
  • Knowledge of SPIA/DIA and deferred annuities with living benefits and drivers of industry trends/innovations.
  • Proven ability to lead effective meetings.
  • Strong leadership skills and demonstrates high energy with a passion for work.
  • Strong research, analytical and quantitative skills.
  • Has a flexible and creative approach; enjoys working across the organization in a team oriented environment.
  • Ability to function in a deadline driven environment.
  • Bachelor's Degree is required; CFA (or progress towards) is a plus.

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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 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.
Corporate Vice President, Guaranteed Income Annuities Product Management