Corporate Vice President, Credit Risk

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Date: Dec 16, 2018

Location: New York, NY, US

Company: New York Life Insurance Co

New York Life Insurance Company is the largest mutual life insurance company in the United States. Founded in 1845 and headquartered in New York City, New York Life reported 2017 operating earnings of $2.06 billion. Total assets under management at year end 2017, with affiliates, totaled $586 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 independent rating agency commentary as of 8/1/17).

 

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.

 

 

Role Value Proposition:

New York Life is seeking a Corporate Vice President, Credit Risk. This position will maintain the global quantitative credit risk framework (enterprise policy and credit risk appetite) and will provide the Office of Risk Management perspective within Asset Sector working groups. 

The candidate will be involved with risk identification and quantification and with the development, review and maintenance of limits and guidelines, and reporting of risk metrics and credit portfolio strategies.  The candidate will also be responsible for providing credit risk input/assumption.  and will assist the Head of Credit Risk in reporting on enterprise-wide credit risk analytics.

 

 Key Responsibilities:

  • Develop and Implement credit risk quantitative models
  • Develop/recommend/portfolio strategies, guidelines, risk metrics, and compliance
  • Compile credit risk sensitivities for the dedicated business review and credit risk dashboard
  • Support quantitative credit risk requirements for various submissions (rating agency, Board reports, etc.)
  • Support/analyze/propose credit risk reduction strategies
  • Calculate impact to economic metrics and guidelines of credit risk strategies
  • Develop and recommend credit risk best practice
  • Develop Credit Risk Appetite Statement
  • Maintain and develop assumptions of the credit risk portion of the capital framework
  • Maintain and develop reporting of enterprise credit risk analytics, attribution analysis and monitoring
  • Develop, Review and recommend credit risk limits

 

Essential Business Experience and Technical Skills:

  • 7+ years of risk management experience with specific background in credit risk analytics or equivalent investment experience
  • Experience with implementation of credit risk models such as Moodys Risk Frontier, Credit Manager, Kamakura portfolio credit model etc.
  • Relationship management expertise
  • Strong communication and partnering skills
  • Ability to develop talent, empower individuals and manage diverse teams to drive engagement and performance
  • Demonstrated ability to influence policy and strategy through effective collaboration
  • Undergraduate degree required; advanced degree preferred
  • Proven ability to solve complex risk management problems
  • Database, programming experience

 

Leadership Competencies:

  • Thinks Strategically
  • Motivates People
  • Creates Partnerships
  • Models our values
  • Focuses on Customers
  • Drives Results

 

Key Relationships:

  • Reports to: VP, Head of Credit Risk
  • Key Stakeholders: NYL Investors,  IT, Treasury, Actuarial, Accounting, CFO Organization, and risk management teams

SF:LI-MD1
SF:EF-MD1

 

 

 

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