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 Monterey 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 2014 operating earnings of $2.021 billion. Total assets under management at year end 2014, with affiliates, totaled $552.82 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 8/11/15).
Financial strength, integrity and humanity—the values upon which New York Life was founded—have guided the company’s decisions and actions for 170 years.
- The BI Business Analyst elicits, analyzes and documents requirements for Information Management
- An entry level Business Analyst role supporting the effective documentation of work processes and business requirements.
- Works towards implementation of opportunities identified in discovery and analysis phase. Participates as a team member.
- Assists in developing business cases.
- BI and technology-centric
- Facilitates requirements gathering sessions for basic requests, proactively drawing out requirements from stakeholders.
- More business facing than engineer
- Performs gap analysis to identify opportunities for process improvement or management control of work flow.
- Writes User Stories in agile framework.
- Participates in requirements gathering sessions as a representative of Information Management
- Creates requirements definition documentation and simple functional specifications to capture business needs and for validation with the customer and shared with project stakeholders.
- Analyzes requirements and assesses feasibility; consults technical team as appropriate
- Validates and obtains sign-off for functional requirements/specifications.
- Creates functional design documents
- Manages and documents changes to requirements throughout the project.
- Transitions functional knowledge to technical team
- Tracks and reports on projects meeting defined requirements throughout the project life cycle.
- Reviews test scripts to validate requirements are being tested
- Reviews test plans and scripts for completeness and accuracy.
- Familiar with the data aligned to the LOB. Works closely with the BA
- Responsible for metric analysis (KPIs)
Education / Training
- Required Bachelor's degree; equivalent work experience accepted
- Possesses an initial understanding of current business analysis tools.
- Typical candidates will possess 3+ years of business or technical experience and BA/BS Degree or equivalent.
- 3-5+ years of relevant experience
- Experience with CRM, particularly Salesforce.com, a plus
- Experience working within Agile methodology a plus
- Possesses basic understanding of some technologies, developer tools, development methods, systems and programming languages.
- Financial Services experience preferred
Required Skills / Knowledge
- Current knowledge of industry and business process trends and ability to apply that knowledge to existing business processes with a focus towards process improvement
- Possesses the aptitude to quickly understand work processes and flows in various business units.
- Familiarity with multiple technologies, business analysis tools, development methods and systems, and a basic understanding of programming languages
- Demonstrates good understanding of business needs by accurately documenting business requirements and simple functional specifications.
- Familiarity with a variety of development methods, including Agile and Waterfall, and how it applies to own area of work
- Understands complex business processes and is able to document them in a logical and comprehensible manner
- Analyzes process and data flows, identifying potential redundancies, overlaps in accountability, key decision points, etc.
- Receives specific direction; work in progress is reviewed routinely.
- Responds and communicates efficiently within user and IT organizations to facilitate resolution of user issues as and when necessary.
- Communicates equally effectively in business and technical terms.
- Makes recommendations for action plans or streamlining to improve business performance.
- Selects appropriate work procedures or approaches, with guidance.
- Ability to communicate in written, oral and presentation formats to best represent and express user and organizational requirements to audiences up to mid-level management.
- Participates in ROI and other financial analyses.
- Seeks advice and approval when necessary to expedite results.
- Forms productive relationships with internal customers by listening, clarifying, and responding effectively.
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*Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, June 15, 2015. See http://fortune.com/fortune500/2015/ for methodology.
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.
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