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 2015 operating earnings of $1.875 billion. Total assets under management at year end 2015, with affiliates, totaled $528 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 8/11/15).
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 Corporate Vice President of Affluent and Advanced Markets for the Latino Market Initiative is responsible for implementing internal and external educational and sales programs and activities geared to Agents and various external audiences in the Latino affluent, business, and advanced markets. Specifically the CVP will focus on Non-US Citizen estate & gift tax planning, business succession, charitable planning, income taxation, wealth preservation, and retirement planning.
As part of the Company's ongoing expansion in the Latino community, the CVP of Affluent and Advanced Markets will play a key role in the implementation of business development, client acquisition (education, prospecting, case development and design), as well as Top Agent support and high potential Agent identification and development.
The CVP will also act like as a liaison with other groups in the Company such as the Advanced Planning Group, Nautilus, and Eagle Strategies to 1) assist agents with case presentations and design, and 2) increase Latino Market agent participation in key Advanced Planning sessions and groups such as Coaching Series and other membership-based groups.
• Support Agents with complex financial planning solutions in the areas of Non-US Citizen and dual domiciled estate planning, estate and gift tax planning, executive benefits, business succession, charitable planning, income taxation, and retirement planning
• Conduct ongoing Agent development sessions and study groups in key assigned areas to increase Agent knowledge and case flow in the Affluent and Advanced markets
• Conduct ongoing prospecting and sales activities such as client educational seminars, prospecting workshops and events, Center of Influence and advisor meetings, as well as present at national and regional sponsored events with business leaders in the Latino Community
• Conduct individual client and prospect meetings with Agents and other advisors as requested and as scheduled in assigned territory visits
• Work with Agents and with other Advanced and Investment areas to assist agents in preparing for client presentations and with case development and preparation
• Work with marketing and communications functions to develop sales materials and presentations specific to the Latino market as well as sales campaigns and agent meetings and incentives
• JD Degree required/and or equivalent business experience in Advanced Planning, MSFS, CFP, or other advanced financial planning education highly desired
• Life Insurance License, Series 6 & 63, Series 7 highly desired
• Bilingual (English-Spanish) required
• Additional Advanced Planning & investments training
• Non-US Citizen and dual domiciled estate planning, estate and gift tax planning, executive benefits, business succession, charitable planning, income taxation, and retirement planning experience
• Solid knowledge and experience in the Affluent and Advanced markets, industry and competitive knowledge
• Understanding of consultative approach in working with Affluent clients and of Advisor relationship building process
• Ability to work with multiple advisors and internal areas, conduct research as needed, and act as a consultant to the agent
• Effective leader in motivating and driving agent activity in the Affluent markets
• Create excitement and enthusiasm internally and externally for Initiative and tactics, gain support of colleagues across the organization
• Ability to analyze complex business and estate planning cases, design solutions and illustrations with various advisors, and effectively verbalize to client and motivate to take action
Decision Making / Nature of Impact:
• Ability to make decisions about work flow and process management in order to effectively prioritize task, be responsive to frequent management needs, and maximize opportunities as they arise in the Field
• Ability to work independently across a large geographic area with multiple agent and advisor relationships
• Strong analytical, critical thinking, and observation skills
• Excellent written, verbal, and presentation skills: will make frequent presentations to internal and external stakeholders
• Strong selling and influencing skills
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*Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, June 15, 2015. See http://fortune.com/fortune500/2015/ for methodology.
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.