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.
This role will co-lead the preparation of GAAP compliant consolidated financial statements for New York Life Investment Management Holdings LLC ("NYLIM"), a direct subsidiary of New York Life Insurance Company. NYLIM is a unified third-party asset management business that brings together institutional investments boutiques and retail mutual funds businesses. The candidate will be a key member of the GAAP accounting and reporting division ("GARD") in the newly established Financial Services Organization ("FSO") and will report to the Corporate Vice Presidnet of GARD. This position will work closely with individuals within the Asset Management Finance teams including the investment management boutiques as well as several departments across New York Life's Finance department.
Major responsibilities include: 1) Preparation of the NYLIM consolidated GAAP financial statements and notes disclosures; including the preparation of the statement of cash flows. 2) Preparation of financial statement templates to be included in New York Life's consolidated GAAP financial statements and note disclosures. 3)Reconciling financial information of all Asset Management subsidiaries between their local ledgers and the Company's SAP ledger. 4) This position will assist in monitoring the effective design and operation of NYLIM's financial reporting controls. 5) Preparation of analytics explaining NYLIM's financial results.
CPA preferred. Proficient in Excel. Knowledge of SAP is beneficial.
A strong understanding of GAAP accounting and financial statement preparation.
Bachelors in Accounting/Finance
3-5 years of accounting experience
SF:EF-DI1 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 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.