Posted: Friday, December 29, 2017 2:54 PM
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 and 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.
Under the general direction of the Asset Management Controllers (AMC) Director of International Accounting and Reporting, this position will assist in the accounting:related support / oversight of New York Life Investment Managements (NYLIM) international business. This role will help bring consistency to AMCs support of NYLIMs international business. The required support / oversight will differ based on NYLIMs international presence. For example, support for branch offices (e.g. Hong Kong, Korea, and Japan) will differ from support of limited purpose operating entities (e.g. NYL Investors : UK) or the support of foreign subsidiaries (e.g. Candriam, Ausbil, etc.). Furthermore, support related to the conversion of Candriams and Ausbils local financial statements to US GAAP will leverage business knowledge and expertise of their local accounting and finance teams. Importantly, this position will help document required accounting service levels for representative offices, branches, operating entities, and holding companies to support future business growth. This position will work closely with individuals in several departments in NYLIM and NYL.
:Assisting in ensuring the fiscal integrity of each international business through the enhancement and management of accounting systems and controls.
:Monitor controls and ensure compliance with both US and international reporting requirements
:Assist in ensuring that accounting policy issues are identified on a timely basis and that any conclusions reached by the Accounting Policy Team are appropriately implemented
:Manage and prepare ad hoc projects and analyses consistent to AMCs support of NYLIMs international business.
:In regards to NYLIMs holding entities over its respective international operations, ensure that proper US GAAP adjustments are properly booked and consolidations are appropriately completed.
:Ensure that all material and critical foreign local GAAP account balances, including intercompany balances and equity balances, are reconciled to the US GAAP account balances on a monthly basis.
:Assist in engaging and supervising any 3rd party accounting service providers.
:Assist with the accounting infrastructure development for any new branches and the integration of existing accounting processes and controls for new international acquisitions.
:Assist in ensuring that appropriate record retention rules are applied for both US GAAP and foreign local GAAP reporting.
Foreign Branch Reporting
:Perform basic accounting and treasury functions where needed. This includes receiving, processing, and paying invoices related to NYLIMs international operations, including lease rental, payroll, T and E, tax payment, and other vendor related expenses.
:Ensure that accounting transactions are appropriately recorded under both
• Location: New Jersey
• Post ID: 152300682 nynj