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.
Job Title: Stable Value Investments, Senior Associate
Location: Jersey City, New Jersey
Offered Wage: $112,715/year
Duties: Supports, analyzes, evaluates, and reports on business risks as part of New York Life’s Stable Value Investment (SVI) business unit. Executes business processes, including resetting periodic crediting rates, valuation reconciliation, and data enrichment for fixed income securities. Improves workflow processes by providing technical support aimed at automating and enhancing internal systems and MS Excel economic models, including scenario testing. Participates in daily risk and compliance activities, including analyzing the market to book ratios and monitoring changes to study market volatility and drive conversations with stable value managers related to concerning contracts. Produces compliance reports to review portfolio-level data and compare it with established guidelines, including analyzing duration, ratings, and top ten issuers in portfolios. Develops and maintains tools to support the monitoring and analysis of fixed income manager investment processes and performance. Produces and ensures accuracy of asset and liability data such as market and book ratios, duration and yield, and plan data metrics such as cash flows and demographics. Works with Underwriters to establish and enhance processes to ensure information is vetted objectively and independently. Participates in the monthly enrichment process to review an array of associated fields and fill data gaps; enriched data is then used for risk reporting and sent to downstream Actuarial users to create reserve reports. Participates in monthly crediting rate resets for active contracts to grow book value and smooth out volatility from market value, amortizing gains, and losses. Assists the Actuarial team to prepare actuarial data reserve reports, including providing enriched data at a Committee on Uniform Security Identification Procedures (CUSIP) level and provides market and book value for contracts. Investigates securities for information such as sector and ratings data to identify data discrepancies. Assists in producing quarterly risk reports to assess portfolio, plan, and contract level changes. Creates risk reports to investigate portfolio performance, exposure, and compliance with investment guidelines. Develops new products and features through risk and profitability analysis for existing and future business to understand the impact of reserving regulations, loss impact, and capital requirements. Studies stochastic models associated with wrap products to review updates to current products such as changes in contract provisions and understanding new products by analyzing risk and profitability measures. Conducts market studies to better understand the stable value wrap industry and competition. Works on projects to improve workflows and study financial data, including automating database extractions and reporting through R, Tableau, and Excel (VBA).
Education & Experience Requirements:
Bachelor’s degree in Finance, Economics, Actuarial Science, Mathematics or related field (willing to accept foreign education equivalent) plus two (2) years of experience as a Stable Value Investments, Senior Associate or experience performing financial analysis.
Required Skills:
Experience must include 1 year in each of the following skills:
- Creating risk reports for financial plans by analyzing a variety of metrics, including profitability and cash flow performance, leverage measures, liquidity and capital structure efficiency, and quantifying their financial stability through complex model building;
- Enhancing financial reporting capabilities and automating current workflows leveraging R and VBA scripting languages, and creating automated data set extractions to create risk reports and populate dashboards to study industry, sector or client portfolios;
- Expanding and managing databases; leveraging and organizing data from relevant tables leveraging SQL; and performing regular extractions for quality assurance and analysis; and,
- Enhancing internal systems with accurate financial data using Bloomberg or Refinitiv, and leveraging post-enrichment metrics to analyze portfolio impacts.
Eligible for Employee Referral Program
Overtime eligible: Exempt
Discretionary bonus eligible: No
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: 89448