Product Manager, Long Term Care Funding Solutions

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.

 

 

As a Product Manager within the linked-benefit Long Term Care business, you will be working on maintaining and/or enhancing the design, price, service of the solutions we offer, while balancing the interests of clients, distributors and stakeholders. This role requires frequent collaboration with many different business areas such as technology, service, underwriting, claims, actuarial, filing, finance, investment, marketing, distribution, compliance and legal.

 

 

What You Will Do:

  • Discover: Develop deep understanding of our offerings, regulatory landscape, strengths, weaknesses, customer targets & needs, distributors, market trends through various tools (e.g. surveys, research, interviews etc) and connect the dots to see how they impact our business
  • Design: frame the problem/solution based on discovery and contemplate revising or creating new products
  • Plan: develop product feature roadmap and drive a clear strategy for prioritization. Set clear goals, tasks and Key Performance Indicators that can be measured throughout the lifecycle of the initiative
  • Implement: Own accountability for the execution of the project; define requirements (e.g. spec sheet, contract language etc); work cross-functionally to ensure the solution is built, and communicate progress to the team
  • Resolve: as a subject matter expert, resolve and take on ad-hoc projects

 

Qualifications

  • Bachelor’s degree or other equivalent degree, or significant work experience required. MBA, and/or industry designations (CFA, FSA, ASA) is a plus
  • At least 3 years of consulting, product and/or other highly analytical role experience; with knowledge of long-term care insurance solutions is a plus
  • Strong PC skills, including Excel, Access, PowerPoint and Word

 

You:

  • Are positive, energetic and love tackling problems
  • Are intellectually curious and like to experiment
  • Are a team player and have the ability to build strong working relationships with your business partners
  • Are also a self-starter and can independently seek information, corral resources and deliver results without waiting for direction
  • Are detailed, data-driven and good at writing business proposals in meaningful way
  • Are an expert communicator (explaining complex requirements in laymen terms when needed) and able to naturally build consensus across all levels of the company

     

You Are Proficient In:

  • Finance, economics and/or marketing
  • Selling ideas and clearly explaining product concepts
  • Leading multifunctional teams and indirectly influencing them
  • Building and maintaining strong relationships with co-workers
  • Seeing other points-of-view while maintaining confident direction

 

Why It Is Exciting To Work With Us:

  • Millions of people are likely to suffer from chronic conditions as they age, and cost of care has been rising every year (with average long-term care costing around $90K/year today). We are developing linked-benefit solutions that provide instant leverage on dollars invested to cover for death or long-term care event; while providing the peace of mind through money back guarantees.  This is just tip of the iceberg in design and there is a lot we can do in shaping up on how health care is delivered to our clientele
  • We work hard because we love what we’re building, but also believe in work/life balance
  • We believe our people is what differentiates us and invest in their development
  • We have an environment that values honesty, transparency and respect

 

SF:LI-LB1

EOE M/F/D/V

 

If you have difficulty using or interacting with any portions of this Web site due to incompatibility with an Assistive Technology, if you need the information in an alternative format, or if you have suggestions on how we can make this site more accessible, please contact us at: (212) 576-5811.

 

*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.

Company
New York Life Insurance Co
Posted
04/06/2018
Type
Full time
Location
New York, New York, US