Operational Risk Management Capabilities Lead

  • Competitive
  • New York, NY, États-Unis
  • CDI, Plein-temps
  • New York Life Insurance Company
  • 22 oct. 17 2017-10-22

Operational Risk Management Capabilities Lead

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 individual will be responsible for driving the development and implementation of foundational risk elements and processes of the Operational Risk Management Framework and Governance strategy across the company. This person will be an integral member of the Framework and Governance team and will be relied upon to understand the key operational risks facing the company. They will need to work collaboratively with Operational Risk Management leadership, business Risk Officers, and business leadership and deliver strategic solutions for the institution of Operational Risk Management practices. Decisions made will have an impact across the company. The scope of the activities includes all businesses and operating units throughout NYL, its affiliates and subsidiaries. The position is important to the realization of the strategic vision of Operational Risk Management at NYL.

  • Develop and oversee implementation of processes and tools to support an interactive relationship model across the businesses and Risk Management to ensure that Operational Risk Framework and Governance are adopted and incorporated into their Risk review and monitoring programs; coordinate with other Risk and Control functions of the Three Lines of Defense to develop an integrated assessment of risks across the company for senior management
  • Partner with senior leadership to enhance the culture of controls and embed a high level of control awareness across the company through development and implementation of relevant processes, controls, policies/standards, training, reporting, and other forms of engagement and direction
  • Lead Process and Control mapping across the company; establish and implement governance and maintenance strategy
  • Implement Risk Control Self Assessment process; establish qualitative and quantitative metrics
  • Develop and implement Operational Risk policies and standards; lead various governance initiatives
  • Manage multiple cross functional projects; direct IT in development of new technologies and solutions
  • Identify industry forums and related media that provide a strategic, holistic view to current and emerging trends, regulation, and best practices in Operational Risk; ensure that these are adequately addressed by our Operational Risk Framework
  • Help promote a strong risk culture of integrity, transparency, accountability, collaboration and continuous improvement.

  • Accomplished professional with 7+ years of experience in risk, control, audit or compliance in a financial institution
  • Strong leadership in the development and implementation of comprehensive operational risk frameworks and governance
  • Demonstrable ability as a change agent, building and implementing new functions, processes, controls, and disciplines through successful partnership across multiple functions and locations
  • Knowledge of COSO, ISO, Basel
  • Knowledge of operational risk management foundational processes and functions, tools, and best practices
  • Understanding of insurance and asset management businesses, services, policies, procedures, regulations, systems, and technologies
  • Ability to drive results
  • Strong program/project management skills
  • Excellent communications, leadership, and presentation skills; ability to influence others
  • Ability to think strategically, critically, and logically
  • Ability to develop effective relationships across the firm, at all levels
  • Proactive self-starter with a strong work-ethic
  • Bachelor's degree required, MBA or Masters preferred


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* 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.