Head of Asset Liability Management

$250,000 - $300,000/Yr

New York Life - New York, NY

Full-time - Senior

New York, NY

Insurance Carriers and Related Activities

About the position

The Head of Asset Liability Management (ALM) at New York Life is a pivotal role that leads a team of actuarial, quantitative analysts, finance, and ALM professionals. This position reports directly to the Treasurer of New York Life and is responsible for managing the General Account asset liability profile of the company. The Head of ALM will work closely with business leaders and the Chief Investment Officer organization (OCIO) to ensure effective management of interest rate risk through portfolio investments and hedging instruments. This role requires a strong background in investment management, excellent partnership and communication skills, quantitative capabilities, and project management expertise to implement complex financial solutions. In this managerial position, the Head of ALM will engage with various stakeholders, including business leaders, finance partners, and investment professionals, to align ALM strategies with business objectives. The role also involves collaborating with the actuary modeling leadership team to ensure that models accurately represent product liabilities across different economic scenarios. Additionally, the Head of ALM will oversee investment policies and strategic asset allocation in partnership with the OCIO, coordinate with Treasury and investment professionals to maintain appropriate liquidity levels, and ensure compliance with risk limits. The position demands a consultative, strategic, and tactical approach, requiring hands-on leadership to drive results and inspire team performance.

Responsibilities

• Lead the Asset Liability Management (ALM) organization of actuarial, quantitative analyst finance and ALM professionals.
• Partner closely with business leaders and the Chief Investment Officer organization (OCIO) to manage the General Account asset liability profile.
• Support business unit pricing and product teams, ensuring effective management of interest rate risk through portfolio investments and hedging instruments.
• Engage with business leaders, finance partners, and investment professionals to align ALM strategies with business objectives.
• Collaborate with actuary modeling leadership to ensure models accurately represent product liabilities across various economic scenarios.
• Oversee investment policies and strategic asset allocation in partnership with OCIO.
• Coordinate with Treasury and investment professionals to maintain appropriate liquidity and cash levels.
• Engage with risk professionals to ensure compliance with risk limits.
• Provide finance teams and corporate partners with investment income projections and attribution.
• Work with modeling teams to ensure relevant and accurate information for decision-making.

Requirements

• Broad knowledge and firm understanding of insurance products.
• Strong leadership capabilities balanced with solid technical investment knowledge.
• Enhanced problem-solving and analytical abilities, familiarity with investment strategies and concepts.
• Excellent quantitative capabilities and ability to communicate complex quantitative concepts effectively.
• Fluency in insurance general account investing, including understanding unique needs, risk appetite, and buying behavior.
• Ability to navigate and work effectively in a large, matrixed organization with multiple decision-makers and stakeholders.
• Fact-based problem-solving skills and ability to generate sound business recommendations aligned with company values.
• Action-oriented with the ability to drive resolution in a timely manner, with strong follow-through and focus on end results.
• Ability to inspire and motivate others to perform.
• Continuous improvement and quality mindset, demonstrating accuracy and thoroughness in work output and decision-making.
• Bachelor's degree (preferably in finance or business); MBA and/or CFA preferred.

Nice-to-haves

• Experience in a managerial role within a financial services or insurance company.
• Advanced knowledge of financial modeling and risk management techniques.
• Proven track record of successful project management in a financial context.

Benefits

• Discretionary bonus eligibility
• Comprehensive health insurance
• 401k retirement plan
• Paid time off and holidays
• Employee giving and volunteerism programs
• Career development resources and programs