NYL Direct Risk Officer #36840
Location:
Tampa, FL 33601
Posted:
October 26, 2016
Position Type:
Full Time
Reference:
36840-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 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.

 

The NYL Direct Risk Officer will be responsible for the Risk Management function within NYL Direct.  This officer will be an integral member of the NYL Direct leadership team and will be relied on to understand the key risks facing the organization, including operational, financial,  regulatory and strategic risks.  The NYL Direct Risk Officer will need to work collaboratively with NYL Direct’s leadership and IAG’s Risk Management office to deliver innovative solutions to complex risk issues.  Decisions made will have an impact within NYL Direct and across the broader organization.

 

Responsibilities

 

  • Member of the NYL Direct leadership team expected to bring a risk perspective to strategic discussions and tactical issues. Work closely with IAG’s Risk Management office and serves as a liaison between NYL Direct and the broader risk management organization.
  • Work with the various functional areas to assess risks and develop mitigating strategies.  Risks associated with our various third parties and vendors should also be included.
  • Perform detailed risk assessments of the NYL Direct organization, driving the development of NYL Direct’s risk self-assessment (risk registers) for financial, operational, regulatory and strategic risks.
  • Develop and report on key NYL Direct risk metrics on a regular basis
  • Represent NYL Direct in supporting IAG’s Risk Management office in various risk analyses.  Projects include:
    • NYL stress testing scenario analysis
    • Rating agency and regulator presentations and inquiries
    • NYL Senior Management risk discussions
  • Evaluate emerging risks and stay abreast of industry developments and current events that might impact the organization.
  • Evaluate risk, organizational and process taxonomies, ensuring completeness and accuracy as it relates to NYL Direct.
  • Represent NYL Direct, or ensure proper representation, on various company-wide committees and working groups to address specific risks, e.g. cyber and fraud risk.
  • Oversee the development and maintenance of NYL Direct business continuity and record retention plans.
  • Implement Governance, Risk and Compliance (GRC) tool within the business unit.

 

Qualifications:

 

  • Minimum of 8 years relevant experience
  • Relevant certifications preferred (CFA, FRM, PRM or CERA) Experience in risk management required, insurance knowledge preferred
  • Superior communication skills, both written and verbal, with the ability to influence others
  • Inquisitive by nature to explore unidentified issues
  • Able to stay abreast of multiple issues, knowing when appropriate to perform a deeper analysis
  • Strong technical, analytical and problem solving skills
  • Able to work both independently and as part of a broader team
  • Willingness to take on new challenges

 

SF:LI-KH1

SF:EF-KH1

EOE M/F/D/V

 

If you have difficulty using or interacting with any portions of this Web site due to incompatibility with an Assistive Technology, if you need the information in an alternative format, or if you have suggestions on how we can make this site more accessible, please contact us at: (212) 576-5811.

 

*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.

A little about us:
From sales careers to professions in insurance and investments, we lead the way.

Know someone who would be interested in this job? Share it with your network.