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 Domain Architect will define and maintain current state and target state definitions and inventories of business models, applications, data, services, and technology for a given domain area.
The position will provide pre-defined standards and patterns, reference architecture based on NYL business process models and industry models.
The position ensures that common architecture decisions are implemented consistently across business and IT in support of the business and IT strategy for all applications and technologies within a specific domain area.
Maintains consistency of architectures and the principles applied across a business, application or technology domain
Governs the application of architectures and principles applied to ensure consistency of technology to meet business requirements
Supports Principal Architect and Architecture Process Center of Excellence in defining Architecture frameworks and processes
Designs, develops, and communicates models, processes, tools, standards and methodologies used in various architecture domains
Assesses new technologies and articulates the transition from current to future state in consideration of the future needs of the business and security policies and requirements, striking an optimal balance between standardization, customization, innovation, costs, and risk management
Provides guidance/input to Solution Architects and project teams to ensure technology solutions being delivered are consistent with domain technical guidelines
Assists in development of business cases which include relevant technology implications
Engages with IT Business Relationship Manager and Planning teams, and (as necessary) directly with business to understand technology needs and requirements and incorporates these into construction of roadmap
Within a specific business or technical domain, creates architecture roadmap for all technology and applications
Explains key business benefits and implications of technology decisions and outcomes
Drives innovation thought leadership in SMAC (Social/Mobility/ Analytics & Cloud) technology stack
Performs competitive analysis of LOB specific products and technologies and provides input for product/technology selection for projects
Reviews and validates target metrics for projects from a technology perspective like tools usage, reusable frameworks and feasibility in order to achieve the quality target
Reviews, identifies and prioritizes technology risks in order to develop a risk mitigation plan at LOB level
Participates in EA initiatives and assists in preparation of application, technology and business process rationalization roadmaps for LOB
Creates LOB innovation roadmap with capability gap analysis on relevant emerging technology areas, including but not limited to cloud, big data analytics and visualization and mobility
Identifies new opportunities for innovation by conducting market research in order to provide critical inputs to develop a business plans
Required Skills & Knowledge
Demonstrates authoritative knowledge in the IT architecture and its implications for the business
Possesses expert depth and breadth of knowledge regarding multiple technologies and their inter-relationships
Possesses the broad expertise to integrate the technical vision for IT, integrating across technologies, systems, organizations, and scientific disciplines
Demonstrated ability to develop and lead networks of business and technology leaders to collect knowledge of the practices of similar organizations and their strategies
Recognized as an authority in IT within the industry
In-depth and/or breadth of expertise in own discipline and broad knowledge of other related disciplines
Ability to anticipate business and/or regulatory issues and identify requirements for product, process or service improvements
Broad and comprehensive expertise in leading-edge theories techniques, and/or products within own field
Capable of influencing business and/or regulatory issues that have an impact on the business
Demonstrated ability to effectively manage multiple simultaneous projects and deliverables
Decision Making Authority and Problem Solving or Innovation Required
Recognized as an expert within the company
Has a leadership role in strategic architecture planning for the organization
Anticipates internal and external business challenges and/or regulatory issues; recommends process, product or service improvements
Solves unique and complex problems; requires conceptual and innovative thinking to develop solutions
Adapts function/business strategy plans and policies to address service and/or operational challenges
Plays a key role in projects, processes or vendor management with notable complexity; develops the strategy for execution
Solves unique and complex problems; requires conceptual and innovative thinking and education and/or equivalent experience to develop solutions
Responsible for the delivery of end results focused on operational excellence
Makes decisions guided by function/business plans and policies that impacts the operations of a sub-function or work area within a sub-function
Communicates complex ideas; persuades and negotiates with others, often at senior levels, to adopt a different point of view
Experience & Education
Advanced degree preferred; equivalent work experience accepted
Previous Experience Required
12-15+ years of relevant experience
Experience and familiarity with Insurance and Financial Services business systems strongly preferred
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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.