Senior Associate, Benefit Plan Accounting and Reporting
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 candidate will be a member of the Finance Services Organization - Statutory Reporting Division and be responsible for many of the accounting and financial reporting functions of New York Life's benefit plans.
The candidate will prepare and review various schedules and reports and will work directly with business unit contacts throughout the company and with an external third-party.
The candidate must be highly motivated, organized, detail oriented, and be able to multitask.
Responsibilities The Senior Associate position in the Statutory Reporting Division will focus on the following major areas of responsibility:
Review of monthly/quarterly statutory and GAAP expense and accrual journal entries for the benefit plans Review of monthly expense budget reports Review of statutory and GAAP benefit plan financial results provided by the third-party actuary for year-end disclosure as well as various projections throughout the year Preparation and review of post-retirement cost expense schedules for management and business unit reporting Manage and review the quarterly and annual benefit plans notes disclosures for the statutory and GAAP financial statements and management reporting Management and review of the annual benefit plan 5500 audits, including preparation and review of the benefit plan financial statements and oversight of the benefit plan audit Prepare the management schedules and exhibits for actual, plan and outlook results Prepare annual funding recommendation for the qualified pension plans Coordinate valuation and projection assumptions with third-party actuary Ensure compliance with and documentation of MAR/SOX controls Qualifications B.
S.
Accounting or Finance 4-6 years relative accounting experience or Big 4 experience Ability to work with team members directly and remotely Strong working knowledge of Microsoft Excel, Word, PowerPoint Benefit plan accounting/financial reporting experience a plus Statutory accounting/financial reporting experience a plus CPA or MBA preferred SF:
LI-JL1 SF:
EF-JL1 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:
576-5811.
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.
Senior Associate, Benefit Plan Accounting and Reporting.
Estimated Salary: $20 to $28 per hour based on qualifications.
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 candidate will be a member of the Finance Services Organization - Statutory Reporting Division and be responsible for many of the accounting and financial reporting functions of New York Life's benefit plans.
The candidate will prepare and review various schedules and reports and will work directly with business unit contacts throughout the company and with an external third-party.
The candidate must be highly motivated, organized, detail oriented, and be able to multitask.
Responsibilities The Senior Associate position in the Statutory Reporting Division will focus on the following major areas of responsibility:
Review of monthly/quarterly statutory and GAAP expense and accrual journal entries for the benefit plans Review of monthly expense budget reports Review of statutory and GAAP benefit plan financial results provided by the third-party actuary for year-end disclosure as well as various projections throughout the year Preparation and review of post-retirement cost expense schedules for management and business unit reporting Manage and review the quarterly and annual benefit plans notes disclosures for the statutory and GAAP financial statements and management reporting Management and review of the annual benefit plan 5500 audits, including preparation and review of the benefit plan financial statements and oversight of the benefit plan audit Prepare the management schedules and exhibits for actual, plan and outlook results Prepare annual funding recommendation for the qualified pension plans Coordinate valuation and projection assumptions with third-party actuary Ensure compliance with and documentation of MAR/SOX controls Qualifications B.
S.
Accounting or Finance 4-6 years relative accounting experience or Big 4 experience Ability to work with team members directly and remotely Strong working knowledge of Microsoft Excel, Word, PowerPoint Benefit plan accounting/financial reporting experience a plus Statutory accounting/financial reporting experience a plus CPA or MBA preferred SF:
LI-JL1 SF:
EF-JL1 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:
576-5811.
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.
Senior Associate, Benefit Plan Accounting and Reporting.
Estimated Salary: $20 to $28 per hour based on qualifications.
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