CVP, Actuarial - Head of Pricing, NYL Direct #35025
Location:
Tampa , Florida
Posted:
August 23, 2016
Reference:
35025-en_US

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.

The Head of Pricing leads the Actuarial Pricing and Filing Team at NY Life Direct.  The position will work closely with Marketing to design and build new products for sale on a direct basis.  This role involves close coordination with the broader pricing and product community within NYL, as well as our business partners in Direct.

 

Responsibilities Include:

 

  • Manage Actuarial Pricing Team consisting of 8 members
  • Work closely with the Head of Product Development on the design of new products
  • Ensure accurate pricing of direct to market life insurance products
  • Understand profitability targets and ensure new products meet requirements
  • Present and defend pricing analysis to NYL Senior Management
  • Effectively move products through NYL product approval process
  • Work with head of Experience Studies & Analytics to develop appropriate pricing assumptions
  • Oversee rate and application form filings
  • Talent management and development of team

 

Requirements:

 

  • Life products pricing experience required
  • Experience with simplified underwriting and direct market life insurance a plus
  • Strong and effective communication skills, both written and verbal; ability to present to senior leaders, as well as peers, in a clear manner, fostering dialogue and helping to drive decisions; ability to communicate technical, actuarial concepts in an easy to understand manner
  • Ability to build relationships and reach across the organization, both internally to NYL Direct and within the broader NYL organization
  • Significant experience creating executive level presentations
  • Ability to influence areas outside direct line of reporting
  • Strong management skills
  • Fellow of the Society of Actuaries

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.

 

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