Institutional Annuities - Head of Pricing, CORPORATE VICE PRESIDENT & ACTUARY

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Date: Sep 12, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

 

 

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.

 

 

The Institutional Annuities (IA) business group includes our Spread Lending, Pension Risk Transfer, Stable Value and Structured Settlements product lines, all of which are growing with strong annual sales and demands from our pricing team. This role, Head of Pricing for IA, works across all these businesses leading a team of FSAs and actuarial students to deliver product pricing, profitability analytics and reporting to drive new business decision making, liability issuance strategy and business growth. The team also plays a leading role in new product development, partnering with the IA businesses.

 

This role reports to the Institutional Annuities CFO, is part of the IA Finance Leadership Team, and manages a team of 6 currently. The role involves close coordination and collaboration with the broader finance community of NYL, as well as our Institutional Annuity business partners.
 


Major Responsibilities:

 

  • Head pricing actuary for New York Life’s Institutional Annuities business group
  • Lead pricing for Pension Risk Transfer and Structured Settlements annuities products, which include significant work with mortality assumptions partnering with the experience studies team
  • Drive profitability analytics and reporting to inform pricing of Spread Lending and Stable Value Wrap products
  • Develop new business analytics to support business decision making and liability issuance strategy
  • Lead pricing elements of any new product development, with potential projects over the coming years including in-plan annuities, QLACs, stable value 403B segment and PRT deferred lives
  • Lead projects and partner with Investment Strategy, Experience Studies and OCA to drive enhancements to our pricing assumptions and methodologies
  • Represent IA Finance as a member of the IA Assumptions Committee to govern assumption setting for new business and in-force projections
     

 

Qualifications:

 

  • FSA
  • Previous annuity or pricing experience preferred
  • Solid understanding of asset liability projections, investment strategy and ALM, particularly as applied to pricing exercises
  • Prophet experience
  • Strong manager and team builder, with ability to manage both actuarial students and FSAs
  • Thought leader with a continuous improvement mindset, able to creatively drive enhancements to current practices and methodologies
  • Ability to multi-task with shifting priorities, with a strong sense of urgency under tight deadlines
  • Strong written and oral communication skills, including the ability to communicate to a wide range of stakeholders with different backgrounds and at executive levels
  • Strong project management and business partnering skills, with an ability to build relationships and collaborate within the team and across the organization
  • Self-starter with strong analytical skills and attention to detail

 

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: 86446

 

 

 


Nearest Major Market: Manhattan
Nearest Secondary Market: New York City

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