Director, Head of Annuity Business FP&A (MG3)
New York, NY
October 13, 2016
Position Type:
Full Time

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 2015 operating earnings of $1.875 billion. Total assets under management at year end 2015, with affiliates, totaled $528 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 over 170 years.


DIRECTOR, Head of Annuity Business Financial Planning & Analysis


The Head of FP&A for the retail and institutional annuity businesses is responsible for the management reporting of financial results, the multi-year financial planning process and the financial support for the strategic and tactical needs of the business. This position leads a team and reports to the Chief Financial Officer (CFO) of the annuity businesses and serves as a key member of the annuity finance management team. This role involves close coordination with the broader finance community, both the business unit and corporate levels, as well as our retail and institutional annuity business partners.


Major Responsibilities:


Management Reporting and Analysis:
• Develop and produce timely, accurate and insightful management reports, with performance indicators and metrics, to support senior management decision making and execution. Responsibilities include:
o Coordinate the P&L reporting process within the annuity finance organization
o Analyze financial results, linking back to business strategies
o Meet with key stakeholders to understand business trends
o Produce the financial reporting packages
o Develop analytics, trends and commentary to illustrate and explain the story to senior management
o Communicate results to business partners and senior management

Planning, Budgeting and Forecasting:
• Lead an efficient, thorough and insightful budgeting and planning process. Responsibilities include:
o Coordinate the multi-year financial planning process across annuity finance, annuity business partners, distribution partners and corporate support areas.
o Link financial plans to strategic business objectives, key initiatives, sales plans, and budgets
o Review annual budgets, including corporate allocations to annuity businesses
o Produce financial planning package, including key performance metrics
o Communicate results to business partners and senior management

Strategic Business Support:
• Act as thought partner in providing analytical insight and perspective to the head of the retail and institutional annuity businesses and their leadership teams. Responsibilities include:
o Support the strategic initiatives of our business partners through financial and management information analyses, reports and recommendations.
o Develop and enhance the expense management and reporting framework for the annuity business, including enhanced unit cost metrics for management reporting and pricing
o Develop and enhance strategic metrics as a basis for quantifying the trajectory of the business and achievement of strategic goals
o Support the development of the strategic direction of finance organization to meet the business demands

• Extensive financial management experience within a retail and/or institutional annuity business
• Strong understanding of insurance company’s financials and operations
• 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, financial concepts in an easy to understand way
• Ability to build relationships and reach across the organization
• Clearly demonstrate ownership and ability to perform assignments with minimal supervision
• Previous management experience







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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  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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