Senior Specialist in Policy Accounting in New York, New York | DiversityInc Careers
 
This job has expired and you can't apply for it anymore. Start a new search.

Senior Specialist in Policy Accounting

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.

 

Working under the team manager and senior team members, the Senior Specialist in Policy Accounting is responsible for providing high level technical support to the staff related to investigation of complex accounting issues as well as reviews of quality measures on reconciliations. The position is expected to autonomously support the area with documentation, testing, training, and quality assurance as well as develop and produce management reporting.

The role requires knowledge of the Corporate General Ledger and Corporate Accounting systems. The Senior Specialist should know how to reconcile accounts and explain changes to the general ledger balance by relating them to activities in the field. The Senior Specialist will play a key role in projects. The Senior Specialist must know basic variable accounting processes for the RPAY and CYBERLIFE systems and how they work within and an introductory understanding of how the activities of other areas impact the processing.

Responsibilities:

  • Ensure policy records in the administrative systems are up to date and modified as needed.
  • Detail oriented, Investigate and research accounting issues and develop, document, and implement solutions.
  • Produce management reports and develop new reports as appropriate with guidance from management and senior team members.
  • Monitor trends in reconciliation and production variances and investigate significant changes.
  • Participate in special projects as assigned by management, such as a new product, quarterly and year end processes.

 

Preferred requirements:

  • Strong oral and written communication skills
  • Understanding of reconciliation process with SAP and Corporate Accounting system knowledge
  • Strong organizational and analytical skills.
  • Technical knowledge including strong working knowledge of MS Office suite (Word, Excel, and Access)
  • Interprets internal or external business issues and recommends best practices.
  • Collaborates with others to solve complex problems; uses sophisticated analytical thought to exercise judgement and identify   innovative solutions
  • Works independently, with guidance in only the most complex situations
  • May play key role in functional projects

 

Qualifications:

  • Bachelor’s degree
  • Experience with Variable Product services is preferred
  • Knowledge of the administrative systems rPay, CyberLife (Fixed and Variable).
  • Knowledge of Corporate Accounting systems (SAP).  
  • Working knowledge of MS office suite Word, Access and Excel.
  • 3+ years of Accounting Experience 

 

 

 

 

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: (212) 576-5811.

 

*Based on revenue as reported by “Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, June 17, 2016.  See http://fortune.com/fortune500/  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.