Corporate Vice President, Variable Annuity Product Management (53928)

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • New York Life Insurance Company
  • 21 Aug 17

Corporate Vice President, Variable Annuity Product Management (53928)

New York Life Insurance Company ("New York Life" or "the company") is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterrey New York Life in Mexico.

New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2016 operating earnings of $1.954 billion. Total assets under management at year end 2016, with affiliates, totaled $538 billion. As of year-end 2016, New York Life's surplus was $23.336 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 Third Party Ratings Report as of 8/17/16).

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.

New York Life is looking for a highly qualified Corporate Vice President of Variable Annuity Product Management within our Retail Annuities business. This role will assist in the management of the Variable Annuities product line with a focus on developing a product suite that meets consumer needs, is consistent with external markets, suitable for our distribution channels and adds value to the company. This position will report to the Product Manager for Variable Annuities.

Primary Responsibilities

  • Assists in bringing new and innovative products through the product development process, from ideation & focus group research, to business specification, platform specifications, business planning, development and roll out
  • Conducts competitive intelligence and analysis of the annuity industry with a focus on variable annuities
  • Prepares written summaries for management covering new product ideas, project status updates and developments within the variable annuity marketplace
  • Effectively steer cross-functional resources in a collaborative way to meet business objectives
  • Understands customer needs and is able to anticipate change, both in product and technology, of the retirement marketplace and ensure that New York Life has the proper annuity products, platforms and strategy in place to capitalize on market opportunities

Qualifications, Education and Experience
  • 5+ years experience in variable annuity products across various share classes, intimate knowledge of living benefit riders a plus
  • An unquenchable enthusiasm for developing and researching variable annuity retirement solutions
  • Clearly understands and can articulate the design mechanics and value proposition of variable annuity products sold by competitors
  • Is an excellent communicator who is able to express ideas in writing and orally in an eloquent and engaging manner
  • Deep understanding of annuity product design, product positioning and distribution markets; familiarity with Strategic Insight - Annuity Insight, LIMRA Research, and Morningstar Annuity Intelligence a plus
  • Proven ability to lead effective meetings
  • Demonstrates high energy and a passion for work
  • Has a flexible and creative approach; enjoys working across the organization in a team oriented environment
  • Has a consistent track record of contributing to the success and growth of the business
  • Bachelor's Degree required

SF:LI-LB1
SF:EF-LB1
EOE M/F/D/V

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* Based on revenue as reported by "Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 17, 2016. See http://fortune.com/fortune500/ for methodology.
** Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company's long-term financial strength and stability and is presented on a consolidated basis of the company.

1. Operating earnings is the key measure use by management to track Company's profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US (GAAP), with certain adjustments Company believes to be appropriate as a measurement approach (non GAAP), primarily the removal of gains or losses on investments and related adjustments.

2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.