Corporate Vice President, Actuary

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Date: Jul 3, 2019

Location: New York, NY, 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 PCOE (Prophet Center of Excellence) is responsible for supporting the business areas enterprise wide with their Asset-Liability Modeling (ALM) and other forecasting modeling needs.  PCOE develops and maintains models covering Valuation, Cash Flow Testing, Embedded Value, Stress Testing, RBC, Duration analysis and Economic Capital, Stress Testing.  In addition to supporting the Prophet models, the team engages heavily in with the business units to understand prospective needs and advise on modeling approaches. This role offers interested candidates the opportunity to learn products and methods across every business within New York Life.

Responsibilities:

Responsibilities for this position place focus on the drive for continuous improvement from an operational perspective.  A sample of the projects the role encompasses, but is not limited to, is as follows:

  • Candidate will be a key member of a finance team responsible for modeling, reporting and business analytics.
  • Prophet model conversions and ALS model development based on centralized governance policy.
  • Modeling advanced product features and reinvestment / hedging methods.
  • Build business and corporate functionality into consolidated ALM models enabling enterprise wide risk assessment.
  • Work with the business units to understand requested model changes, prioritization, execute test plans, and assist in model acceptance.
  • Implementation of Prophet Enterprise modules to support governance and process automation.
  • Implementation of the Single Platform functionality for valuation.
  • Document all changes and testing to the models.

Qualifications:

The PCOE tests and implements many leading-edge techniques as a team.  We are looking for people with the following skill-set:

  • Knowledge of actuarial and financial modeling, particularly asset and liability projection modeling using the Prophet actuarial system.
  • At least 5 years of Prophet development and implementation experience.
  • Experience working within an actuarial enterprise technology environment a plus.
  • Skilled in processing large data and development of efficient complex work process using advanced technology.
  • Understanding of insurance products and the related risks.
  • Excellent relationship building and collaboration skills.
  • A self-starter with strong communication skills.
  • Ability to convey technical concepts to non-technical audience.
  • Ability to organize complex processes, handle multiple tasks, and deal with shifting priorities, all within demanding time schedules.
  • Strong execution and time management skills - ability to move multiple projects along under tight deadlines.
  • Ability to “think outside of the box” and work with leading edge non-traditional actuarial practices.
  • An energetic team player.

 

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EOE M/F/D/V

 

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