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Senior Associate, Finance #82727

New York Life

Location: Tampa, Florida
Type: Non-Remote
Posted on: September 8, 2020
This job is no longer available from the source.
A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. Its a career journey you can be proud of, and youll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. Recognized as one of Fortunes Worlds Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and service, supported by our Foundation . It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. 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 .
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 will support reporting of financial results internally to Finance leadership, across Direct 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.
• Prepare the Statement of Cash Flows quarterly (monthly if possible) and analyze the change in cash for operating and investing activity, eventually at the department level for expenses; reconcile to investment cash flow forecasting and actuals in the ledger
• Prepare and validate GAAP and STAT financial statements, schedules and disclosures in support of the monthly and quarterly close, including subsequent analysis and presentations
• Identify and analyze drivers of actual to projection variances and discuss results to Leadership in advance of the ledger closing
• Perform and maintain the quarterly Deferred Dividend Liability inventory for GAAP and STAT (TBD)
• Owner of a quarterly comprehensive financial reporting package for Direct Finance that documents and validates all reporting packages to each other, ensuring data was reported consistently to all stakeholders; used as a reference guide in subsequent reporting periods; evaluate use of Wdesk for automation of checks
• Maintain a monthly dashboard for Direct Finance Leadership disclosing the financial impact of risk events/losses with the impact to customers and business partners for review at meetings
• Create a quarterly reporting process to analyze the end to end impact to our financial results for NYL Direct Projects and Initiatives by compiling data over the life of the project from data sources such as: the CBA, Budget (and subsequent updates), Outlook, PI events, Risk meetings, Leadership updates, and any other related information; requires strong partnership with key stakeholders such as Strategy, Claims, Premiums Accounting, IT, Sales and Service, Risk and other teams across Direct
• Review monthly Pcard and Amex reports in partnership with the Controls and Expense Teams for reasonableness and risk management; including a summary by vendor and for high risk areas
• Create analysis of the current expense chargeback process and compare actual results to projections on a quarterly basis; provide recommendations for changes during annual review of process
• Review CAE assumptions annually and provide recommendations for updates if change to assumptions are needed, including documentation
• Owner of NYL Direct Reinsurance premiums and claims payments, accounting and reporting, including accounting policy review, documentation, analysis and actuarial support
• Comprehensive and ongoing review of accounting best practices in relation to the insurance admin system, including documentation and recommendations for improvements or efficiencies
• Partner with Compliance and Risk to communicate changes in regulatory requirements to Finance Leadership; provide recommendations and options as needed
Requirements:
• Bachelor’s Degree in Accounting or Finance preferred
• 5+ years’ related experience required
• Financial Reporting experience, Insurance Industry knowledge
• Understanding of GAAP and Statutory Life insurance accounting guidance
• Familiarity with Actuarial concepts
• In-depth knowledge of key business drivers and insurance and finance industry dynamics
• Life insurance experience preferred
• Ability to identify and analyze drivers of actual to projection variances
• Ability to analyze the end to end impact to our financial results for projects and initiatives
• 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 Direct and to Corporate
• Ability to listen well and be receptive to others' ideas and suggestions, encouraging open and collaborative dialogue among team members
SF:LI-KH1
EOE M/F/D/V
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Job Requisition ID: 82727