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.
- As a change leader for the Technology organization, the Head of IAGT Strategy & Planning partners with the IAGT CIO, Senior IAG Business Leaders, and Senior IT Leaders and is responsible for facilitating the development of Information Technology’s long term (3-5 year) roadmap, annual operating planning, and conducting monthly IT business reviews. This is a hands on role, while managing a team. Aligns the organization around priorities, sequencing of strategic initiatives, budgets, resource capacity and utilization, implementation of strategic resource plans, and financial management.
- Leads the creation of the annual IT expense plan, which includes budgets and allocation of resource capacity.
- Manages the creation and implementation of a strategic staffing strategy for IAGT, which includes the use of internal NYL positions, managed services providers, and external staff augmentation.
- Aggregates IAGT and portfolio level performance dashboards on a monthly basis including financials, resource utilization, time reporting, delivery performance, and risk/ issue reporting.
- Works with Head of IAGT and Senior Leadership Team to approve additions to staff
- Works with IT Delivery Leads and Procurement to justify and procure external staff
- Creates and manages IAGT employee location strategy
- Collaborates with Finance and leadership teams to produce relevant and accurate financial reporting, including budgets, actual spend to date, and forecast
- Helps create and manage the prioritization of technology investments
- Works with Business Relationship Managers, Architecture, and IT Finance to manage idea and demand pipeline and to create business case to qualify strategic opportunities
- Works with Program and Project managers to track and report out on program and project performance and benefits realization across the strategic initiative portfolio.
- Business case preparation and benefits realization tracking across the IT portfolio.
- Works with the IT Business Relationship Managers, and their Portfolio Managers, to adopt standard portfolio management processes and time reporting
- Responsible for optimizing resource capacity and utilization across IAGT
Minimum Education Required:
- BS in related field Bachelor’s degree in Computer Science, Information Technology, Engineering, Finance or Business Administration
- 5-10 years management and strategic experience, with experience in budget management, Information Technology, or PMO a plus
- Prior experience at a major financial services provider preferred
- Experience leading geographically distributed teams
- Experience and familiarity with Insurance and Financial Services business systems
- Experience managing multiple projects, including partnerships with external technology partners, simultaneously from design through deployment
Minimum Experience Required:
- Experience working closely with senior executives
- Experience in portfolio, program and project management roles working effectively across multiple business and technology teams and functions
- Demonstrated, applied experience in planning and managing complex, multi-year IT programs and projects
- Experience in SDLC, ITIL and application or infrastructure solution development and deployment
- Experience in developing demand management models with variable staffing including onsite/offshore mix
- Experience in developing, measuring and trending ROI against a diverse portfolio of solutions
- Experience working in the Insurance or Financial services sector preferred
Desired Skills: / Knowledge
- Executive presence with high business IQ
- Strategic thinker with ability to articulate vision and execute well
- Demonstrated success and significant experience in implementing technology and leveraging data to achieve greater business effectiveness and efficiencies
- Strong project and people management skills
- Proven ability to build and maintain strong collaborative relationships with managers across the business
- Demonstrated ability to effectively manage multiple simultaneous projects and deliverables
- Strong and proven project management expertise
- Well-developed business understanding
- Strong and proven influencing, persuasion and negotiation skills
- Ability to multitask and manage multiple projects in a cross-functional environment
- Execute with minimal direction
- Excellent written and verbal communication skills
- Highly collaborative, team oriented and strong communicator with the ability to make decisions that are in the best interest of the organization
- Leadership skills to influence stakeholders and promote brand
- Ability to enact change quickly
- Ability to act under strong pressure and to manage crisis situations efficiently & effectively
- Ability to develop team members by inspiring, encouraging and providing constructive criticism to help improve performance
- Proficient at driving profitability and ROE measures as well as root cause analysis
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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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