Stable Value Product Management Analyst

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Date: Feb 14, 2021

Location: Jersey City, NJ, US

Company: New York Life Insurance Co

 

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

 

The Stable Value team, a component of the Institutional Annuities business, is seeking a motivated individual to provide product support for New York Life’s proprietary stable value structures.   This is an opportunity to join an established leader in the stable value industry and offers significant growth potential based on performance. In addition to product management proficiency, the successful candidate will gain familiarity with other aspects of stable value products such as marketing, relationship management, underwriting, legal/regulatory issues impacting product sales and development, investments and risk management.

 

As a member of this team, the Product Management Associate will:

  • Oversee, monitor, and report aggregate and contract-level activity on stable value products:
    • Track and maintain product activity including expected cashflows, new sales, contract terminations, and document status including preparation of periodic reports and status updates for internal distribution to adjacent departments and senior management
    • Manage changes required due to mergers, expense ratio and recordkeeper changes
    • Coordinate activity with other members of the Stable Value team as well as internal support groups (Client Services, Sales, Actuarial, Accounting, Underwriting/Contracts, and Legal) on product, contract and business issues
    • Respond to inquiries regarding plans/contracts from external clients such as plan sponsors, advisors, auditors and recordkeepers
    • Provide support for performance calculation process, including entering performance numbers into external databases (eg; Morningstar) within prescribed deadlines
    • Support semi-annual rate reset process; assemble data, prepare presentation materials, and schedule meetings with stakeholders
    • Coordinate the annual audit/reporting process across various departments
  • Provide product support to Sales team as needed
  • Coordinate delivery of contract documents with Underwriting/Contracts team and Sales representatives
  • Assist Service team in onboarding new clients and resolving trading/contract issues
  • Assist in preparation of presentation materials and responses to RFIs and RFPs
  • Lead or participate in group projects as needed
  • Perform ad-hoc administrative tasks as requested by management

 

Qualifications:

  • Bachelor's degree strongly preferred
  • 1+ years’ work experience in financial services industry; specific familiarity with stable value a strong preference 
  • Proficiency in advanced Excel capabilities and/or programming skill (specifically R and SQL) a plus
  • Proficiency in Microsoft  Outlook, PowerPoint, and Word 
  • Professional oral and written communication skills
  • Team player willing to lead or collaborate with other team members as needed
  • Desire to gain a strong working knowledge of the stable value industry

 

 

EOE M/F/D/V

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