Finance Operations Analyst – New York Life Insurance Co

Job Description

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.

New York Life’s primary distribution channel is the career Agency sales force of more than 12,000 agents, operating in virtually every major city in the United States. Every agent is affiliated with one of our 115 General Offices. These offices are operated by Agency management teams responsible for agent and management recruiting, development, and sales. Approximately half our agents operate their businesses out of our General Offices, while the other half maintains independent office locations.

Our General Offices are divided up among four Zones. In addition to our Zone offices, an Agency Home Office team responsible for strategy, finance, administration, standards, training, marketing and communications supports our agents and field managers. The Agency operation also comprises teams charged with growing our business in key market segments, including the middle-income market, the advanced (high-net-worth) market, and select cultural markets. Agents sell individual life insurance, individual annuities, and long-term care insurance products, as well as mutual funds.

Responsibilities

The Senior Associate, Finance Operations is responsible for the analysis and development of NYL’s field manager compensation programs, as well as the actual calculations and payments associated with those programs. The Senior Associate is a key member of a team that is responsible for properly incentivizing and paying our field managers to meet the Company’s various production goals, as well as its budgetary objectives. Responsibilities include:
• Develop all Partner & Senior Partner proformas (schedule of expectations/projections), which are used to determine our managers’ current and future goals and compensation.
• Administer the Partner & Senior Partner proforma tracking process.
• Create all Partner and Senior Partner compensation projections.
• Build financial models to design and scenario test changes to our managers’ compensation plans.
• Assist in the calculation, verification, and payment of Partner & Senior Partner compensation.
• Calculate and verify incentive compensation payments to our Zone management team.
• Coordinate efforts with our IT team to test and implement changes to our Partner and Senior Partner compensation systems.
• Prepare ad hoc financial/statistical analyses for senior management.
• Educate and answer questions from our field managers regarding their compensation plans.
• Reconcile Partner & Senior Partner budget accounts on a monthly basis.
• Assist with the annual updating of the Partner and Senior Partner compensation plans.
• Assist with the review and approval of year-end adjustments.
• Assist with the annual budget process.

Qualifications
• Bachelor’s Degree preferred
• Minimum of 3-5 years of relevant experience
• Microsoft Word, Microsoft PowerPoint, Microsoft Excel (advanced) & Microsoft Access (advanced)
• Thorough and detailed knowledge of field manager compensation and Agency’s goals
• Strong analytical and problem-solving skills
• Strong communication skills
• Ability to build relationships with internal and external customers

Salary range: $72,500-$107,500

Overtime eligible: Exempt

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.

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Job Requisition ID: 89489