Data Science Product Manager

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Date: Nov 26, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

Location Designation: Hybrid 

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

 

Data Science Product Manager

 

New York Life, the largest writer of retail life insurance in the U.S. and a top player in annuities, long-term care and mutual funds, is seeking a Data Science Product Manager in its Center for Data Science and Artificial Intelligence (CDSAi).

 

The company has 177 years of history and while usable data does not quite go back that far, we have a wealth of internal information on consumers, policies and their performance, as well as applicants, prospects and our 12,000 agents. We also have a multitude of external data from a great variety of sources. Analytical challenges range from mortality risk to agent recruiting decisions, service optimization, consumer analytics (segmentation, response, conversion, retention, up-sell), fraud detection, advertising allocation and office footprint optimization.

 

The Center for Data Science and Artificial Intelligence (CDSAi) is the 60-person innovative corporate Analytics group within New York Life, led by Chief Analytics Officer Glenn Hofmann (https://www.linkedin.com/in/glennhofmann/). We are a rapidly growing entrepreneurial department which designs, creates, and offers innovative data-driven solutions for many parts of the enterprise. For more information on CDSAi, please visit our website (https://www.newyorklife.com/careers/corporate/data-science).

 

In the 6 years of the existence of CDSAi we have built a lot of predictive modeling solutions that are being used by various areas in the company. We have also stood up a modern model deployment platform that allows our models to be accessed in real time or batch (via APIs) from any production system in the company.

 

We have now reached a level of maturity where we want to (internally) productize many of our solutions, continuously improve them and find incremental use cases. The product manager will look after a number of such products, starting at deployment of version 1. This role will work with Technology groups and business partners to resolve any issues that may impact expected utilization, assure appropriate reporting, collect feedback and plan features, functionality, input data, design changes and timelines for future version upgrades to increase the value and usage of our products.

 

The role reports to Nalin Aggarwal (https://www.linkedin.com/in/nalin-aggarwal-frm-816a3716/), who currently leads the Underwriting Data Science team. A good understanding of predictive analytics (including the process of building and deploying models) and technology is essential. Examples of Underwriting Data Science products are below. There are several additional ones, and more products will follow, especially morbidity and group insurance products.

  • Underwriting mortality risk scores
  • Accelerated Underwriting models
  • Natural language processing on medical text documents

 

 

Responsibilities

 

  • Manages existing and future Underwriting data science solutions, including engagement with user community and Technology to assure targeted utilization, supervise appropriate reporting, collect feedback and explore external landscape to plan features, functionality, input data, design changes and other enhancements for upcoming version upgrades (full product planning from the data science side).
  • Explores new use cases for these Underwriting data science solutions (in collaboration with data science managers). Develops in-depth understanding of underwriting pain-points and collaborates with the business to identify possible data science solutions. 
  • Creates incremental value for the products the role manages. Incremental value should be measurable in terms of increased target utilization, additional use cases, etc.
  • Participates in technology planning and detailed requirements meetings and represents CDSAi.
  • Sets and directs analytical requirements and collaborates with project managers, data scientists and data engineers in the realization of these requirements.
  • Works closely with our model governance and monitoring team to implement and maintain product versions over time.
  • Develops and manages product roadmaps. Collaborates with data science manager and project managers to ensure successful execution.
  • Research external and internal data sources that may enhance our products.
  • Is aware of the competitive and the data landscape and incorporates this awareness into future product upgrades.
  • Works with a variety of internal and external business partners and fosters multi-disciplinary collaboration to craft solutions that meet end user needs and ensure their deployment.
  • Supports internal events, expos, lunch & learns, etc. with displays and presentations.
  • Follows industry trends in insurance and related data/analytics processes and businesses. Contributes ideas and actively participates in proof-of-concept tests of new processes and technologies.
  • Assures compliance with regulatory and privacy requirements during design and implementation of modeling and analysis projects.

 

Required qualifications

 

  • Degree (Master’s is preferred) in disciplines related to engineering, economics, mathematics, business administration, information systems, or other fields of science/technology. 
  • 5+ years of product management experience, including product road maps and hands-on collaboration with Technology, business areas, Legal and other stakeholders.
  • 3+ years of experience working with data and analytics products.
  • 2+ years of underwriting-related experience within consumer financial services industry.
  • Solid understanding of predictive modeling, including knowledge about related technology/software infrastructure, the data science process and model governance.
  • Strong written and oral communication skills, including experience in developing and making influential presentations. Ability and executive presence to communicate persuasively with stakeholders at all levels in our organization as well as external partners. This is essential since you will have a lot of exposure to different internal groups such as Underwriting, Technology, Data, Legal, government relations, etc. as well as third-party data partners.
  • Familiarity with consumer financial regulatory environment, especially around data privacy and algorithmic bias issues.
  • Familiarity with the consumer financial data vendor landscape.
  • Highly organized. Proven ability to effectively multitask between several, time-sensitive projects and competing priorities in a dynamic business environment while maintaining strong, productive relationships with internal stakeholders and external partners.
  • Proficiency in creating effective and visually appealing PowerPoint presentations.
  • Life insurance experience is a plus but not required.

 

Location

  • Manhattan (NoMaD, walking distance from Penn Station and Grand Central Station).

SF:LI-KV1

 

 

Salary range: $157,500-$237,500 

Overtime eligible: Exempt 

Discretionary bonus eligible: Yes 

Sales bonus eligible: No 

 

Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.

 

 

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 volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. 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.

Job Requisition ID: 87789

 

 

 


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