Corporate Vice President - Life Products - New York Life Insurance - New York

Job description

Corporate VP, Product Manager role will report directly to the VP and Actuary in charge of Product Management for the Life and Long-Term Care Department within the Insurance Organization of NY Life. The CVP, Product Manager will be responsible for developing and implementing initiatives/strategies related to our inforce blocks of business for life insurance, with the goal of improving earnings and the customer/agent experience.

This role is located in the corporate headquarters of New York City.

Primary Essential Accountabilities /Product Manager:

• Proactively identifies and solves the most complex problems and opportunities that impact the management and direction of our inforce life insurance business.

• Lead projects and initiatives that have the potential to significantly impact the earnings and management of our life insurance business.

• Lead data analytic efforts for the Life and Long-Term Care Department. This includes developing metrics to analyze trends, opportunities, and concerns, which will influence marketing strategies and prioritization of inforce efforts.
• Communicate and negotiate with the most senior levels of management to influence buy-in on inforce initiatives.

• Lead and coordinate the implementation of inforce initiatives.

• Engage with the underwriters and pricing actuaries to dig into mortality/underwriting issues and underwriting processes.

• Liaise with life product managers responsible for inforce management of specific product lines to find synergies.

Secondary Accountabilities
• Work on ad hoc projects in conjunction with other areas of the company, such as quality control enhancements, customer analytics, and customer experience project.

DEPARTMENT OVERVIEW
New York Life is a Fortune 100 company and the largest mutual company in the US, with life insurance at the core of our business model. The Life and Long-Term Care (LTC) Department plays an instrumental role with responsibility for New York Life’s individual life and LTC businesses. Accountabilities include setting the strategic direction of these businesses; P&L responsibility for these businesses; researching, developing, and marketing innovative and competitive life and LTC product solutions; and providing distribution support.

Our products are primarily distributed through our career agency distribution. The Advanced Markets Network, which is part of the Life and LTC Department, also utilizes third party distribution, with particular emphasis in the bank-owned and corporate-owned life insurance space.

Working in our department offers a forward looking, fast paced, and exciting work environment built on collaboration and teamwork. The candidate will have the opportunity to have a direct impact on the Company’s core business.
Desired Skills and Experience
Essential Requirements and Experience:
Essential Requirements and Experience:


Functional Knowledge
• Seven plus years of relevant experience in Product Management/Development or actuarial or data analytic capacities within Insurance /Finance Industry preferred
• Bachelors degree required, MBA or member of Society of Actuaries preferred

Technical Expertise

• Requires in-depth and/or breadth of expertise in Product Management or Risk Management, as well as mathematical, spreadsheet, and database skills to help develop the solutions for current/future client needs.
• Basic understanding of the Insurance Organization businesses and the products sold within Life Insurance Industry.

Product Solving

• Analytical/ Strategic thinkers with a deep understanding of financial systems. Analyzing data, evaluating financial risks of current/future Products Development Needs.
• Ability to think outside the box - to find innovative and creative solutions to complex business problems

Leadership
• Ability to work both independently and as part of a broader leadership team
• Leads highly visible multidisciplinary project teams, initiatives, processes or manage vendors; provides thought leadership for team
• Collaborative Team Player who has demonstrated ability to work well across organizations
• Strong organization skills, strong interpersonal and communication skills

Decision Making/Nature of Impact
• Responsibility for making and driving significant decisions that impact the strategy and performance within Life Products of the Insurance Organization.

Communication Requirements
• Communicates complex ideas, persuades and negotiates with others, often at senior levels to adopt to a different point of view

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