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 analyst 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. The position is consultative, strategic, and tactical, necessitating hands-on leadership. In addition to leading the ALM organization, the Head of ALM will engage with business leaders, finance partners, and investment professionals to align internal organizations in driving ALM strategies that meet business objectives. This includes partnering with the actuary modeling leadership team to ensure that models accurately represent product liabilities across various economic scenarios and overseeing investment policies and strategic asset allocation in collaboration with the OCIO. The role also involves coordinating with Treasury and investment professionals to maintain appropriate levels of liquidity and cash, engaging with risk professionals to ensure compliance with risk limits, and providing finance teams and corporate partners with investment income projections and attribution. The Head of ALM will work with modeling teams to ensure relevant and accurate information is available for decision-making.

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 internal organizations in driving ALM strategies.
• 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 levels of liquidity and cash.
• 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 and complex 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 New York Life's core values.
• Action-oriented with the ability to drive resolution in a timely manner, demonstrating 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.

Benefits

• Salary range: $250,000-$300,000
• Overtime eligible: Exempt
• Discretionary bonus eligible: Yes
• Sales bonus eligible: No