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 Monterey 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 2014 operating earnings of $2.021 billion. Total assets under management at year end 2014, with affiliates, totaled $552.82 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 170 years.
Supports and understands NYL’s financial business processes. Configures and maintains NYL SAP Financial modules including new General Ledger, SFIN 1.0, Accounts Payable and other integrated components of the Finance modules within SAP. In addition to this, he should have a good understanding of the integration of the ECC with BPC module. Works closely with business partners to define financial requirements for the SAP application. Protects the functionality of the system by adhering to specific development lifecycles with an overall understanding of how functional and technical components of the application work together to provide functionality to the NYL end user community.
Manages the daily operations and team responsible for functional delivery; manages relationships with Application Maintenance Services (AMS) partner to support business change requests and 7x24 operations; gathers and analyzes data and reports that pertain to the overall operation of the business unit and completes reports summarizing activities and trends; performs independent review of problem situations; reviews processes and procedures to streamline activities to enhance service turnaround time, productivity, and quality
Determines scope of financial applications system by consulting with financial executives and other management to ascertain organizational needs for financial related information; functions as liaison with information technology and Finance.
Duties and Responsibilities:
Required Skills and Experience
Change Advocate/Leadership: Plans, implements, and manages change for the organization, assesses the impact of planned enterprise wide change, and builds contingency plans to support change efforts; communicates planned changes and participates in activities that promote organizational change
Business Team Partnership: Coaches staff on enhancements to plans and implementations based on extensive experiences in the industry and a wide breadth of knowledge regarding business team’s operational needs; identifies strategic level initiatives through input from staff, vendors, and business partner, and regularly meets with senior business team to discuss changes in the business and shares potential opportunities in the business; develops tactical and strategic initiatives to proactively address their needs
Communication for Results: Presents information or ideas to the interests, level, and needs of the audience; actively engages participants, encourages input, and uses group process skills to ensure that the agenda is met; promotes and facilitates free and open communication; adapts choice of language and presentation of ideas to fit various needs and perspectives of audiences
Consulting: Collaborates with business partners on key business issues and plays a part in the decision-making process; offers constructive advice on business processes, functions, and re-engineering opportunities resulting from the implementation of technology; presents broad, complex information and concepts in an influential or persuasive way that results in action
Customer Service Orientation: Thinks proactively and independently about business partner’s needs and collaborates with them to develop best approaches to certain issues; synthesizes the needs of multiple customers in the coordination of complex multiple services
Initiative: Takes decisive, proactive actions to either create opportunities or minimize potential problems; seizes the opportunity to initiate new activity or to introduce new approaches into the organization and proactively addresses next steps, upcoming issues, and obstacles
Mentoring and Developing Others: Proactively plans development and mentoring activities for direct reports and identifies opportunities for hands-on work that might enhance the growth of others and facilitate the process; frequently shares own experiences with direct reports and others for the purpose of improving their personal and professional development
Business Function Knowledge: Understands and actively engages in the identification of business and technical solutions for multiple or cross-functional business areas; understands the direction of the overall industry and evaluates the impact on own area of responsibility
Finance and Accounting Knowledge: Integrates financial information from multiple sources into overall financial reporting system and implements a financial control system that defines the procedures for allocating expenditure and defining financial accountabilities; takes action to negotiate pricing and resolve financial deviations
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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 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.