Configuration Business Analyst #37434
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.
This position will coordinate with NYL Direct business units of Claims, New Business, Payment Processing, Mail Operations and Sales and Service. The projects worked on support key growth initiatives and efficiency projects and may impact other areas in NYL Direct such as Marketing, Information Technology, Agency and the AARP client. The toolsets include, but are not limited to, the Fineos claims application system, the IBML/Captiva imaging system, the Fairfax remittance payment system and other third party applications. The scope of this position includes the business analysis, design, approvals as required, and change management. This position is required to perform appropriate communications throughout the project life cycle through formal written documents, meetings, agendas and notes.
Specific initiatives, for example, include continuing work on improving the claims workflow for current manual processes, fine tuning the imaging system as necessary to improve document management and to expand on the remittance system in order to have increased straight through processing. This position will also work on Contact Center transformation project efforts, request and coordinate changes to services in order to improve efficiencies, and to work with 3rd party outsourcing firms. The position will work closely with the management of the business departments to vet out requirements, and may improve processes on behalf of the business units as appropriate. Effective communication is critical in order to influence others during all phases of projects.
Assume active role in business requests for projects that may or may not involve one of the systems described above, but will ultimately impact operations from a technology aspect. Provide insight into the business processes under the Insurance Operation’s separate units, as a representative at project meetings and committees. Perform analysis of requirements and design from other areas, such as IT.
- Effectively communicate project status to the business owner, management, and core team members, and all internal and external stakeholders
- Act as champion of change and facilitate change management process to ensure project benefits are met
- Bachelor’s Degree preferred.
- 5 years of Project or Business Analysis experience preferred
- Detail and analytic orientation
- Financial and operation analysis and support skills
- Strong Excel, PowerPoint and Word capabilities
- Self-starter, hard working attitude, excellent interpersonal skills
- Understanding of technology and systems and strong business acumen
- Attention to details and strong communication skills. Effectively communicate strategic concepts to various levels of the organization
- Demonstrated ability to communicate with SLT, management and decision makers in various areas with senior level presentations and written documents.
- Ability to identify problems and bring solutions for consideration to the team. Provide direct leadership without complete reporting control.
- Ability to effectively manage diverse leaders among different departments to solve business issues and escalate when appropriate. Understand the impact decision made have on the wider organization and bring solution forward. Know the right resources to align to achieve success on projects.
- Identify key issues impacting projects and resolve timely. Ability to think strategically for the long term health of the business
- Escalate to project Sponsor when appropriate
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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.
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