Senior Financial Analyst
- Jersey City, NJ, USA Jersey City NJ US
- Permanent, Full time
- New York Life Insurance Company
- 18 Mar 18 2018-03-18
Senior Financial Analyst
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.
Senior Financial Analyst (SA) will be a key member of the finance team responsible for creating project plans/business cases, tracking and reporting on New York Life's Strategic Programs and Projects. The reporting of strategic projects will require consolidation of IT and Business spend and the creation of concise executive level presentations. The senior analyst will interact with key stake holders of the organization and various members of the Finance, IT, Procurement, Enterprise Program Management Office and business finance departments. The position requires excellent analytical and excel skills combined with a good communication skillset to ensure all requests are understood, processed and delivered within the allotted time frame and according to specific requirements. Working independently is expected. Project meeting coverage is a requirement as well.
Key Duties & Responsibilities
- Expert in the construction and maintenance of the financials used to create strategic project plans that incorporate Cash and GAAP views and related business case financials.
- Proficient in consolidation of project spend, understanding of cost categories, and asking relevant questions to ensure the final output is clear with proper commentary as needed.
- Proficient in creating and analyzing project post-mortems reports that summarize projects costs and benefits (both quantitative and qualitative) against the original business case.
- Ability to produce timely required monthly/quarterly financial reporting from various sources, through interaction with Project Management / Procurement teams, and other key stakeholders.
- Communicate monthly/quarterly results and develop full year and project-life forecasts by using standard templates.
- Understanding of general Planning & Analysis functions. This will enable the communication of project costs to other members of Finance team for appropriate annual planning exercises.
- Collaborate with IT / Finance teams and key stake holders to develop and report on projected saves related to projects.
- Functional Knowledge: Anticipates project financial issues; identifies requirements for reporting and related process improvements.
- Problem Solving; Solves unique and complex problems; requires conceptual and innovative thinking and education and/or equivalent experience to develop solutions.
- Work independently with minimal direction needed to achieve results.
- Pro-active and follow through qualities needed to ensure all deadlines are met on time.
- Bachelor's degree in Accounting or Finance; an MBA is a plus
- 6 plus years of relative experience in IT Finance, Project Reporting or FP&A
- Experience with complex models (heavy reporting, building what if scenarios); knowledge of SAP, Clarity / PPM / Business Intelligence tools is a plus
- Strong analytical skills
- Expert in Excel (pivots, micros, complex formulas, v-look-up _ etc.)
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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.