New York Life Investments, a division of New York Life Insurance Company, is one of the world's largest global asset managers. With more than $500 billion in assets under management, the Investments Group manages premiums paid by the company's six million policyholders, and a global asset management business. New York Life Investments offers a full suite of guaranteed products and annuities, as well as institutional and retail asset management products. It also oversees ten independent investment management boutiques responsible for managing the company's third party assets.
We are seeking a motivated contract professional with direct experience in or a strong working knowledge of the stable value industry. Understanding the state regulatory framework and working with key personnel at the state insurance departments is a critical part of this role. Familiarity with other aspects of stable value products such as underwriting, legal/regulatory issues, investments and risk management are a plus. The successful candidate must have strong interpersonal skills and be able to discuss contract terms with both clients and/or insurance departments while remaining within the boundaries of laws affecting insurance company products.
Specific duties include:
Work with the Stable Value Product & Contract Development group to develop new products, adapt existing products for new markets, and keep in-force business current through periodic reviews and amendments
Interact with state insurance departments, prepare state insurance department filings, including Plan of Operation filings
Represent New York Life's interests in discussions on contract terms with plan sponsors, managers and internal partners
Coordinate actively with other members of the Stable Value team as well as external support groups (Client Services, Actuarial, Underwriting, and Legal) on product, contract and business issues
Lead or participate in group projects as needed
Four year college degree required
Direct experience with state insurance department filings, including both Plan of Operation filings and policy form filings.
Ability to navigate SERFF and similar state filing platforms
Direct experience or working knowledge of the stable value industry preferred
Excellent team player willing to lead or follow other team members as needed, as well as take ownership of their responsibilities.
Superior organizational skills including the ability to manage and adjust multiple priorities as business needs arise
Strong oral and written communication skills
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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.