New York Life Insurance Company ( York Life companys 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.
Position Summary The Life Competition Analyst (Corporate Vice President) will play a critical role in providing support to the Life Product Competitive Intelligence team. The candidate will support competitive intelligence initiatives, and provide competitive support to our business partners in a proactive and consistent manner.
The candidate should possess a basic understanding of life insurance products (with a primary focus on participating Whole Life, in addition to Universal Life, Indexed Universal Life, Variable Universal Life, and Term), and should be comfortable supporting in depth analysis of life insurance products and features, including the ability to review and synthesize information contained within marketing collateral, and product illustrations, and statutory product filings. These insights will help inform product development decisions, marketing decisions, and product positioning.
The candidate must possess the ability to ensure the proper execution of deliverables, investigate and interpret qualitative and quantitative data, and translate the data into actionable information in a clear and concise manner.
Primary Responsibilities - Evaluate New York Lifeompetitive position relative to peer carriers and direct competitors
- Initiate and drive both research of competitor life products to identify key competitive positioning insights
- Package and disseminate competitive positioning insights to provide proactive competitive intelligence to agents, wholesalers, and business partners
- Support the execution of deliverables in an ambiguous environment with competing priorities
- Develop and maintain relationships within key industry associations and groups
Qualifications - Bachelors degree required
- 7+ years life industry experience required
- Pursuit & Completion of Higher Level Professional Designations (e.g. MBA, ChFC, CFP, CLU, FSA/ASA, etc) preferred
- Excellent analytical skills (e.g., advanced MS Excel formulas, etc.) and attention to detail
- Strong knowledge and understanding related to life insurance industry trends, products and features, sales concepts, and sales illustrations
- Strong written and verbal communication skills including the ability to support the development of presentations that synthesize complex issues and potential solutions
SF:LI-LB1
EOE M/F/D/V
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*Based on revenue as reported by tune 500, ranked within Industries, Insurance: Life, Health (Mutual),rtune Magazine, June 17, 2016. See 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.
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