Corporate Vice President, Expense Accounting & Allocation Lead

Date: May 7, 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.

 

This role will lead the Expense Accounting & Allocation team

 

  • Position will be responsible for oversight and administration of company-wide monthly expense allocation process, and the standard reporting and analysis of allocated expenses to Business units to explain cost drivers and trends. Help to develop reports and analytics that demonstrate linkage between cost, allocations, and BU’s product pricing.
  • Main point of contact for the strategic review of the NYL allocation process as well as implementation of the enhanced allocations process; improve governance, transparency and guidance around the allocation methodologies.
  • •Review and direct the team of on/ off -shore finance professionals involved in the allocation process with emphasis on process optimization around monthly expense close journal entries, intercompany billing and reconciliations.
  • This role will interface with all levels of lines of business, corporate areas as well as internal and external auditors
  • Lead the expense allocation process including review of allocations to ensure accuracy of reporting by lines of business.  Provide transparency over the allocation process; Respond to ad hoc requests from Finance business partners regarding detailed expense analysis to understand trends, allocation drivers.
  • Help to develop standard, repeatable, reporting and analytics for allocations and demonstrate the effect of allocations on BU product and unit pricing, compensation or other important Company Financial measures.
  • Responsible for Rent allocations including Jersey City and White Plains lease chargebacks, Intercompany entries, allocations of Post Retirement Costs.  Oversee, review and approve monthly journal entries prepared by off-shore partner.
  • Perform analysis of monthly departmental spend vs budgets, including the re-forecast.
  • Develop, monitor and review selected corporate budgets and work with areas to identify, define, and track strategic plans impacting budgets
  • Oversee monthly inter-company billing process
  • Ensure compliance with MAR/SOX for relevant processes and provide support to internal and external audit process

 

Requirements:

  • Bachelor’s degree
  • Knowledge of Expense Allocation from a large organization with   Prior people management, expense accounting controllership / close experience.
  • Business experience with Insurance accounting, products, and product and unit pricing a plus.
  • SAP knowledge
  • Strong ability to build relationships, and to support initiatives
  • 2+ years of people management experience; 10+ years of experience with accounting, expense management, reporting, GAAP /STAT rules preferably from the Insurance industry. Prior cost and overhead allocation experience a plus. 
  • Advanced knowledge of Excel (pivots, vlookups, etc.), Microsoft Access basic queries, and SQL query language understanding

SF:LI-AM1

SF:EF-AM1
 

EOE M/F/D/V

 

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