Junior Associate - Product Management - Stable Value

Location Designation: Hybrid

When you join New York Life, you're joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You'll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

Location: This is a hybrid position requiring the employee to work onsite at least 12 days a month at our office in Jersey City, New Jersey.

The Stable Value team, a component of the Institutional Annuities business, is seeking a motivated, energetic, and intellectually curious individual to provide product support for New York Life's proprietary stable value structures. This is an opportunity to join an established leader in the stable value industry and offers significant growth potential based on performance. The Product Management Associate will be primarily responsible for delivering top quality service to existing stable value clients both directly and indirectly as well as performing related business support functions. Clients represent a large network of Plans, Platforms, Advisors, Recordkeepers and Consultants across the country. In addition to product management proficiency, the successful candidate will gain familiarity with other aspects of stable value products such as marketing, relationship management, underwriting, legal/regulatory issues impacting product sales and development, investments and risk management.

Responsibilities:

• Oversee, monitor and report aggregate and contract-level activity on stable value products:
  • Track and maintain product activity including expected cashflows, new sales, contract terminations, and document status including preparation of periodic reports and status updates for internal distribution to adjacent departments and senior management
  • Manage changes required due to mergers, expense ratio and recordkeeper changes
  • Coordinate activity with other members of the Stable Value team as well as internal support groups (Client Services, Sales, Actuarial, Accounting, Underwriting/Contracts, and Legal) on product, contract and business issues
  • Respond to inquiries regarding plans/contracts from external clients such as plan sponsors, advisors, auditors and recordkeepers
  • Provide support for performance calculation process, including entering performance numbers into external databases (eg; Morningstar) within prescribed deadlines
  • Complete quarterly RFIs within prescribed deadlines
  • Support crediting rate reset processes; assemble data, prepare presentation materials, and schedule meetings with stakeholders as needed
  • Coordinate the monthly/quarterly/annual audit/reporting processes across various departments
• Provide product support to Sales team
• Coordinate delivery of contract documents with Underwriting/Contracts team and Sales representatives
• Assist Service team in onboarding new clients and resolving trading/contract issues
• Assist in preparation of presentation materials and responses to RFPs
• Lead or participate in group projects
• Perform ad-hoc administrative tasks as requested by management

Qualifications:

• Bachelors Degree preferred
• 1+ years work/intern experience in financial industry; fixed-income / stable value literacy, or progression toward CFA or similar designation a plus
• Ability to understand and interprent financial statements a plus!
• Ability to adapt to changing priorities, manage deliverables and multi-task under pressure
• Strong organizational, interpersonal, and analytical skills
• Professional oral and written communication skills
• Ability to work independently and collaboratively in a team environment
• Proficiency in Microsoft Excel, Outlook, PowerPoint, and Word. Proficiency in advanced Excel capabilities, SalesForce or Tableau applications, and/or programming skills (R and SQL) a plus

Salary range: $47,500-$72,500

Overtime eligible: Nonexempt

Discretionary bonus eligible: Yes

Sales bonus eligible: No

Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.

Recognized as one of Fortune's World's Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. 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.

Job Requisition ID: 88753

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