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.
Corporate Vice President – Retail Life Business
New York Life's Insurance & Agency Group is seeking a highly qualified individual for the role of Corporate Vice President, Strategic Capabilities. This is a new team that will be responsible for development and delivery of strategic capabilities, including application of new data (e.g. digital health data) and advanced analytics techniques, to deliver customer value or operational efficiencies across the life insurance value chain.
This is a unique opportunity to have a significant impact on the future growth and operations of the company through the development of key strategic capabilities as New York Life (and the life insurance industry as a whole) is at an early stage of developing a customer-centric strategy, business model, marketing and risk assessment capabilities. The ideal candidate will have prior consulting experience within the healthcare space, with a strong understanding of digital health data, as well as significant business development experience within medium-large sized companies with a broad range of external partners.
- Lead projects planning and execution of critical cross-functional initiatives linked to the development of key strategic capabilities for New York Life including use of digital health data for risk assessment
- For above projects, lead all activities related to strategic goal identification, roadmap development, detailed workstream planning and execution, resource requirements and availability, and governance and program management
- Take overall ownership projects, lead the team in achieving results and delivering on key objectives
- Create a highly effective cross-functional working teams with key workstreams staffed by team members from related functional areas
- Work with external partners and vendors to conceive and execute a process for evaluation of new, innovative data sources for risk assessment and advanced analytics
- Manage pilot projects to evaluate new data sources and analytics capabilities
- Set clear pilot evaluation criteria, work with operational teams to operationalize data and capabilities that successfully meet pilot criteria
- Manage project governance, and effectively communicate project status senior management on a regular basis
- Help in iterative development of long-term strategy and operating plan for IAG, support strategic decision making with research, modeling, analysis & effective presentations of key factors influencing and driving the businesses
- Support strategic decision making with research, modeling, analysis & effective presentations of key factors influencing and driving the businesses
- Drive collaborative development of core long-term strategic operating plan, including channel mix, product mix, execution strategy, capability gaps, strategic initiatives and key performance indicators
- Develop materials to communicate IAG strategy to various constituencies, including executive management, board and employees
- Self-motivated, with strong leadership skills and executive presence
- Collaborative work style and leadership presence with ability to effectively interact with and earn trust of peers and senior management across the organization
- Ability to influence and lead cross-functional team in the realization of project goals and time-bound deliverables; experience coordinating and leading projects across cross-functional teams
- Very strong analytical and synthesis skills required
- Strong execution orientation an absolute must
- Ability to prioritize multiple assignments and multi-task essential; must be very organized and have excellent follow-up and problem solving skills
- Deep knowledge of Excel and very good Powerpoint skills required; experience with databases and analytic/statistical tools helpful
- Outstanding judgment, critical thinking, time management, communication and writing skills
- Ability to communicate effectively with senior management (presentations, emails and discussions)
- Knowledge and understanding of NYL’s insurance and annuity products and distribution very helpful
- 10 – 12+ years of experience in roles across consulting, corporate strategy, corporate business development, product management requiring in-depth business/financial analysis, synthesis and presentations to senior management
- Top-tier management consulting firm or internal consulting experience strongly preferred; M&A experience a plus but not required
- Experience and knowledge of the healthcare industry, especially use of digital health data, a strong plus
- Corporate business development experience, building partnerships and delivering real business results with companies of various sizes
- Broad knowledge of the Life Insurance industry a strong plus
- Solid experience with and aptitude for conducting research and analysis, including fairly detailed financial analysis
- MBA required; actuarial training or CFA a strong plus
- Functional areas: Strategy Development, Advanced Analytics, Underwriting, Technology, Marketing Strategy & Consumer Experience, Agency Marketing, Product Development, Product Management, Data Solutions & Governance
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