Advanced Markets Network Risk Officer

  • Competitive
  • Leawood, KS, USA Leawood KS US
  • Permanent, Full time
  • New York Life Insurance Company
  • 20 Jun 18 2018-06-20

Advanced Markets Network Risk Officer

New York Life Insurance Company is the largest mutual life insurance company in the United States. Founded in 1845 and headquartered in New York City, New York Life reported 2017 operating earnings of $2.06 billion. Total assets under management at year end 2017, with affiliates, totaled $586 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 independent rating agency commentary as of 8/1/17).

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 Advanced Markets Network (AMN) Risk Officer will be responsible for Risk Management within AMN. This officer will be an integral member of the AMN senior leadership team and will be relied on to understand the key risks facing the organization, including insurance, financial, operational and business risks. The AMN Risk Officer will need to work collaboratively with AMN leadership, IAG's Risk Management office and Risk Officers from around the organization to deliver innovative solutions to complex risk issues. Decisions made will have an impact within AMN and across the broader organization.

AMN is a stand-alone business for NYL within IAG's Strategic Insurance Businesses that focuses on distributing life insurance through third party brokers, primarily in the Banked-Owned Life Insurance (BOLI) and Corporate-Owned Life Insurance (COLI) markets. It represents over $24B of assets under management (AUM), and is a significant earnings engine for the Company.

Responsibilities

  • Member of the AMN senior leadership team expected to bring a risk perspective to strategic discussions and tactical issues. Work closely with IAG's Risk Management office and serves as a liaison between AMN and the broader risk management organization.
  • Work with the various AMN businesses and functional areas to assess risks and develop mitigating strategies. Act as a liaison between the business and broader enterprise-wide risk management programs that are being implemented, e.g. Third Party Risk Management and Quality Assurance.
  • Perform detailed risk assessments of the AMN organization, drive the on-going AMN risk self-assessment for insurance, financial, operational and business risks. Initial emphasis will be on operational risks, with the potential to take on informal oversight of other control functions.
  • Develop and report on key AMN risk metrics on a regular basis
  • Represent AMN in supporting IAG's Risk Management office in various risk analyses.
  • Evaluate emerging risks and stay abreast of industry developments, current events and industry best practices that might impact the organization.
  • Represent AMN, or ensure proper representation, on various company-wide committees and working groups to address specific risks, e.g. fraud risk.
  • Oversee the maintenance and compliance with business continuity and record retention plans for AMN.
  • Implement Governance, Risk and Compliance (GRC) tool within the business unit.
  • Collaborate and work with AMN Compliance and senior business leaders to:
    • Develop and timely implement policies, procedures and controls designed to ensure compliance with applicable laws, rules and regulations; and
    • Create and perform scheduled testing to measure adherence with such oplicies, procedures, and controls
  • Reporting structure:
    • Reports directly to IAG's Strategic Insurance Businesses Chief Risk Officer
    • Reports on a dotted line basis to AMN's Chief Operating Officer
    • Position located in Leawood, KS
  • Help promote a strong risk culture of integrity, transparency, accountability, collaboration and continuous improvement.

Qualifications
  • Minimum of 6 years relevant life insurance or related business experience
  • Relevant certifications preferred (FRM, PRM or CERA)
  • Superior communication skills, both written and verbal, with the ability to influence others
  • Able to stay abreast of multiple issues, knowing when appropriate to perform a deeper analysis
  • Strong technical, analytical and problem solving skills
  • Able to work both independently and as part of a broader team
  • Inquisitive by nature with a willingness to take on new challenges
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