Location Designation: Hybrid
When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.
This position primarily has a hybrid work schedule – working remotely: Monday & Friday / on site: Tuesday, Wednesday and Thursday.
The Senior Associate on the Financial Controllers team is a key contributor to the successful completion of the monthly and quarterly financial close of the NYL Direct ledger by performing a comprehensive review and analysis of the financial performance of the business. This position supports reporting financial results internally to Finance leadership, across the business as needed, and to Corporate as required. Additional responsibilities will include reviewing and/or further developing governance around multiple areas within the Controllers team, including documentation and control practices for minimizing risk, journal entry support, expense management, monthly financial analysis, reinsurance, and streamlining various processes for efficiencies.
Primary responsibilities include:
- Prepare and analyze financial statements, balance sheets, income statements, and cash flow statements to ensure accuracy in support of the monthly and quarterly close, including subsequent analysis and presentations
- Identify and analyze drivers of actual to projection variances and report results to Direct Finance in advance of the ledger closing
- Manage the month-end and year-end close processes, including reconciliations, journal entries, and accruals
- Create monthly reporting for the Controllers team with end-to-end analysis that reports the financial impact of NYL Direct Projects and Initiatives by compiling data over the life of a project from data sources and other related information; requires strong partnership with key stakeholders from various teams across the business
- Collaborate with cross-functional teams to ensure accurate and timely recording of financial transactions and expenses; review monthly expense reporting in partnership with the Controls and Expense Teams for reasonableness and risk management; including a summary by vendor and for areas identified as high risk
- Create analysis of the current expense allocation/chargeback process and compare actual results to projections on a quarterly basis; provide recommendations for changes annual review of process
- Participate in the development and implementation of accounting policies, procedures, and internal controls to enhance the efficiency and accuracy of financial operations; comprehensive and ongoing review of accounting best practices in relation to the insurance admin system, including documentation and recommendations for improvements or efficiencies
Requirements:
- Bachelor’s Degree in Accounting or Finance preferred
- 5 to 8 years of progressive experience in accounting roles, with a demonstrated record of team collaboration with Financial Reporting experience and Insurance Industry knowledge
- Understanding of Statutory Life insurance accounting guidance
- In-depth knowledge of key business drivers and insurance and finance industry dynamics
- Life insurance experience preferred
- Willingness to learn and develop new skills
- Focus on fostering a culture of process improvements, solving problems and driving towards business value
- Ability to manage a plan and deliverables across multiple competing priorities and stakeholders
- Critical and strategic thinker (i.e., ability to identify and research issues)
- Self-motivated and results driven
- Ability to establish, cultivate and leverage relationships to identify and execute on process enhancements
- Ability to analyze complex processes and provide recommendations for changes; implement changes independently or with key stakeholders across the Enterprise
- Ability to articulate operational and risk impacts related to a specific task or procedure
- Work within Finance and partner with the business to implement controls to proactively manage risks
- Ability to partner with key stakeholders across the business including Claims, Premium Accounting, Sales and Service, Facilities, IT and Strategy
- Ability to translate technical data capabilities to an operational and financial audience
- Demonstrated interpersonal skills and an ability to maintain relationships with stakeholders
- Ability to articulate issues clearly and communicate effectively with all levels of the organization – across NYL Direct and to Corporate
- Ability to listen well and be receptive to others’ ideas and suggestions, encouraging open and collaborative dialogue among team members
#LI-SV1
#LI-HYBRID
Salary range: $82,500-$122,500
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.
Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We’re proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.
Job Requisition ID: 89372