Corporate Vice President, Accounting Operations (35152)
Location:
New York, NY
Posted:
August 25, 2016
Position Type:
Full Time
Reference:
35152-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 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 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.

 

Financial Services Organization - Corporate Vice President, Accounting Operations

 

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

 

The candidate will report directly to the Accounting Operations Lead of the FSO Accounting Services Division and will have an integral role in the financial close process of the Company and will work closely with the FSO reporting teams as well as our co-source partner’s resources in India.

 

Responsibilities

·         Assist in managing the monthly and quarterly close process; including the close calendar and journal entry log lists as well as daily close meetings, communications, etc.

·         Responsible for journal entries required for GAAP, Statutory and Management accounting

·          Responsible for ensuring controls around close process are properly executed

·         Responsible for identifying developing and executing process improvements.

·         Responsible for developing, managing and reporting on various metrics around close process

·         Collaborate and partner with our co-sourcing partner, business contacts, as well as external and internal auditors

·         Lead and provide strategic direction for the team

·         Hire, coach, mentor and develop talent

 

Qualifications of a Successful Candidate

·         B.S. Accounting or Finance

·         Working knowledge of Statutory Accounting Principles (SSAP) and Generally Accepted Accounting Principles (GAAP)

·         Strong understanding of General Ledger systems (SAP a plus) and other accounting software

·         Experience implementing process improvements and experience in Project Management

·         Strong leadership and collaboration skills

·         10 plus years of relative accounting experience 

·         CPA or MBA preferred

SF:LI-LB1

 

SF:EF-LB1

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.

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