Vendor Management System - Operations Analyst
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.
This resource will play a key role in the Technology Strategic Partnership Office (TSPO) which has purview over long term strategic visioning and near term tactical priorities related to Vendor management. The role of the Vendor Management Operations Analyst is responsible for the technical operation of the Beeline VMS platform and the Center of Excellence framework implementation focused on the management of Technology contractors. This includes; Data integrity management, Workflow design, implementation support, reporting and analytics, performance, client adoption, system design, configuration, and testing. Additionally, specific to Beeline, this role works with the SaaS provider, Beeline, to manage tickets, open issues resolution, and documentation of requirements. This role is also responsible for the management of the CoE guardrails to ensure New York Life drives leading practices into the Technology ecosystem, this includes but is not limited to, Contractor Do's and Don'ts, tenure and rate exception management and appropriate contractor utilization, e.g. Fixed Fee vs. Time and Materials.
Oversight: Ensure priorities are clearly defined and the agreed-upon strategy is executed. In addition, confirm that Vendor / Partner risks and issues are identified, requests are fulfilled and changes are implemented efficiently.
Communication: Provide readily-available point of contact to reduce cultural and NYL-specific communication barriers (e.g., careful monitoring of the "Yes" culture).
Growth: Identify opportunities to gain additional efficiencies within the Technology sourcing arrangement and package potential growth areas for review by the TSPO CoE and Senior Technology management.
Primary responsibilities comprise the following:
- Administration of VMS technology platform for the Technology Program, including establishing and executing against the external labor management strategy across the organization.
- Detailed understanding of the VMS platform to include; sourcing process, workflows, financial process, and recruitment process.
- Support Technology in new business deployments for implementation as well as the project management of modifications to existing functionality and CoE frameworks.
- Support integration design efforts for various supportive or System of Record (SOR) data integrations
- Leads analytics, dashboard, and operational reporting solution design, including project scoping, interpretation of business needs, definition of requirements, creation of business cases, and provides input into the overall business and translated technical process
- Demonstrates a proactive approach to ensure all existing and future frameworks are reviewed, prioritized, and deployed ensuring program strategy and user adoption are considered.
- Oversees the creation of and at times builds advanced reports and dashboards for executives and high-profile client presentations.
- Develops subject matter expertise in recruitment metrics and analytics domain, inclusive of Program data as well as industry data and market trends.
- Develops and maintains the TSPO SOPs (Standard Operating Procedures).
- Manages training of internal staff and end users with regard to TSPO systems and frameworks.
- Participate in various operations governance/status sessions (daily, weekly, monthly, quarterly)
- Support joint business planning for the relationship and identifying new value-creating opportunities
- Jointly manage contract issue escalation and resolution, facilitating resolution at the lowest possible level and resolving or escalating as necessary
- Evaluate performance and provide feedback regarding the relationship progress, issues and opportunities
- Communicate business unit feedback on current TSPO service performance
- Provide support to NYL internal organizations by fielding questions and facilitating services
- Ensure adherence to NYL Sourcing strategy and goals
- Provide oversight management of requests for service charges in coordination with the CoE and Finance
- Excellent customer service and people skills
- Strong analytical, verbal and written communication skills
- Proficient in PC software packages, such as Microsoft Word, Excel, Email and Internet applications
- Vendor Management / 3rd Party Relationship Management experience
- 3+ years Vendor Management System experience, preferably Beeline
- Bachelor's degree preferred by not required
- 5+ years of experience in customer service
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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.
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