Strategy & Internal Consulting Senior Associate
- New York, NY, USA New York NY US
- Permanent, Full time
- New York Life Insurance Company
- 17 Jul 18 2018-07-17
Strategy & Internal Consulting Senior Associate
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 seeking a highly qualified individual to join the Strategy & Internal Consulting team based in New York, NY.
The Strategy & Internal Consulting team, reporting into the President of New York Life, works closely with the CEO and the Executive Leadership Team to help define & articulate business strategy and support oversight and execution of key enterprise strategic initiatives and other large / complex programs. This team works closely with Finance, Technology and other key stakeholders to drive the annual planning process. The team also supports key decision-making forums and senior executive/Board meetings.
The team partners with Senior Leaders in the various business and functional areas to support development and execution of strategic initiatives within those areas. The team's role typically includes framing and analyzing complex business problems, developing recommendations, partnering with line managers to drive execution, facilitating governance and communication processes, and playing a key role in informing and influencing decision making.
The Strategy & Internal Consulting team comprises high performing individuals with strong academic credentials and professional experiences with backgrounds in management consulting & industry.
Thought Leadership & Advisory
- Frame and analyze complex problems
- Assess areas of opportunity, in line with overall vision and strategy
- Develop pragmatic solutions to key strategic and operational issues
- Develop & present recommendations to senior leadership
- Play a key role in informing and influencing senior management decision making
Strategic Planning Office & Executive Communication
- Support strategic planning processes, including interdependencies between key business, technology and financial planning processes
- Facilitate structured reviews of the enterprise portfolio of strategic initiatives & implications (e.g., budget considerations, resource allocation, etc.)
- Support agenda and materials development for senior executive audiences & meetings e.g., Board Meetings, Executive Offsites, etc.
- Approach projects holistically, owning and driving end-to-end delivery of solutions
- Work with Team Lead on execution of key enterprise initiatives by forming collaborative partnerships with colleagues across businesses and functional areas
- Provide thought leadership and subject matter expertise in relevant areas (e.g., Digital Transformation, Robotics, Risk and Compliance, etc.)
- Manage enterprise governance and communication processes
We are looking for outstanding individuals with excellent intellectual & analytical capabilities, pragmatic problem solving skills, strong communications & influencing capabilities, a robust strategy & change management toolkit and a passion to effect change across the organization at the most senior levels.
- Bachelor's degree required, MBA or advanced degree strongly preferred
- 3-5 years in a top-tier management consulting firm
- Outstanding critical thinking, analytical and quantitative abilities
- Strong communication skills including experience in developing C-suite presentations
- Experience in financial services preferred, insurance expertise is a plus
- Experience in structuring & delivering technology strategy projects and a broad understanding of current technology practices (Agile, Cloud Computing/SaaS, Enterprise Data Management, etc.) & emerging trends (Robotics/AI, InsurTech, etc.) is desired
- Collaborative work style / leadership presence with ability to effectively interact with & earn trust of peers and senior management across the organization
- Project and process management skills, including proven ability to manage multiple projects simultaneously
- Executive presence; self-starter with a keen sense of ownership and commitment to the work, and a passion to deliver results
* Fortune 500 Ranked within Industries, Insurance: Life and Health (Mutual), June 2016.
** Independent rating Agencies, as of 6/9/16: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (AAA), Standard & Poor's (AA+). The financial strength and ratings do not apply to any investment products which are subject to market risks and will fluctuate in value.
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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.