Senior Associate, Fixed Annuity Product Management

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • New York Life Insurance Company
  • 26 Sep 17

Senior Associate, Fixed Annuity Product Management

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.

Description:
New York Life is looking for a highly qualified Senior Associate for the Fixed Deferred Annuity Product Management team who will be supporting product development and management efforts. The incumbent will also conduct research and analysis on fixed annuity products and have a strong understanding of the associated distribution landscape. This position will report to the Fixed Deferred Annuity Product Manager.

Primary Responsibilities:
• Conduct competitive analysis by tracking competitor actions, including monitoring new product and feature launches, as well as corporate level news - alerting appropriate stakeholders as needed.
• Support the preparation of written summaries for management covering new product ideas, project status updates and developments within the fixed annuity marketplace.
• Support in steering cross-functional resources in a collaborative way to meet business objectives.
• Support in educating and training our sales specialists about new product ideas and sales concepts.
• Support the product approval/on-boarding and business development opportunities with strategic third-party firms.
• Support the development and maintenance of fixed annuity illustrations
• Review sales reports, identify and understand changes and underlying trends.

Qualifications, Education and Experience:
• 2+ years experience with annuity products .
• Understanding of annuity product design, product positioning and distribution markets a plus.
• Knowledge of fixed annuities and drivers of industry trends/innovations a plus.
• Familiarity with annuity illustrations a plus
• Is an excellent communicator who is able to express ideas in writing and orally in an eloquent and engaging manner.
• Strong research, analytical and quantitative skills.
• Proficiency with MS Office, especially Excel and Powerpoint.
• Demonstrates high energy and a passion for work.
• Has a flexible and creative approach; enjoys working across the organization in a team oriented environment.
• Bachelor's Degree is required.
SF:LI-LB1

SF:EF-LB1
EOE M/F/D/V

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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.