Project Manager - Product PMO

  • Competitive
  • New York, NY, USA New York NY US
  • Permanent, Full time
  • New York Life Insurance Company
  • 20 Mar 18 2018-03-20

Project Manager - Product PMO

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.

The Project Manager will conduct Business Analysis and provide Project Management support to the Director of the Product PMO and its Customers / Project Sponsors in Retail Annuities.

The Project Manager will be heavily involved in holistic project planning with respect to the execution of Product Development, Product launch and Business Administration plans. This entails product development project scoping, planning and execution from ideation through development & distribution. The Project Manager will also aid in the development of a scalable Project Portfolio Management standard and PMO reporting processes to ensure proper due diligence and organizational transparency for products we bring to market. The Project Manager also plays a primary role interfacing and coordinating with IT project managers, product managers, actuaries and marketing managers to ensure project plans are executed appropriately within the specified constraints of time and cost.

Primary Responsibilities
• Supports the product management team by leading and managing projects and business initiatives through coordination with product managers, project sponsors, actuaries, marketing managers and other key functional areas
• Coordinates and facilitate all project activities in conjunction with the IT PMO to ensure successful delivery of projects
• Coordinates with business partners, vendors, and other relevant areas of NYL
• Aids in the development of project plans, schedules and reports, as needed
• Documents requirements; evaluates and analyzes information and communicates and collaborates with stakeholders
• Ongoing assessment and reporting of project risk across all development efforts
• Tracks and maintains outstanding issues list and meets with product managers on a regular basis to address open issues and discuss status
• Coordinate and manage UAT activities across all key stakeholders and business units involved in each project
• Assists the Director of the Product PMO in the ongoing development of the project management office
• Adopt and develop PMO standards for reporting and execution

Required Qualifications
• Bachelor's degree in a related field, or equivalent skills and experience
• Minimum of 5 years of relevant experience as a Project Manager
• Annuity product knowledge from prior experience in IT, Product Development or Distribution
• PMP Certification is required. Candidates without the PMP must be qualified to take the exam within 3 months of hire and must pass the exam within 6 months of hire.
• Demonstrated ability to work within all levels of the organization, and the ability to meet deadlines and work under pressure while providing a positive image
• Ability to manage conflicting and competing project schedules and deliverables
• Solid understanding of processes, procedures and governance required to deliver a large scale project
• Strong organizational, analytical and problem solving skills including the ability to respond to changing needs and shifting priorities
• Ability to clearly articulate issues, challenges & risks in a clear and concise manner to stakeholders at various levels
• Detail oriented with ability to summarize and effectively communicate and present to senior leaders
• Demonstrates high energy and a passion for work
• Goal oriented, self managed and motivated
• Excellent PC skills in MS Word, Excel, PowerPoint, Lotus Notes, MS Project Professional and SharePoint

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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 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.