CVP, GBS Underwriting Technical UW Consultant - National

Location Designation: Hybrid 

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

GBS

 

 

The Group Benefit Solutions Underwriting organization partners with Sales, Client Management, Pricing, Risk Management, and other business partners to evaluate and manage risk.  We are responsible for analyzing employer group characteristics and plan designs to determine the appropriate rates for Life, Accident, Disability and Absence products.  One of our key priorities is to manage the growth and profitability of our portfolio, through new business sales and the persistency and margin improvement of our inforce book of business.  Our team also includes the Medical Underwriting organization that evaluates the risk of individual applications for Life and Disability coverage, as well as our UW Operations organization that helps to drive efficiency and productivity in our process.
 

This is a key individual contributor role in the National Underwriting Team accountable for providing technical coaching, subject matter expertise, and guidance to a region’s staff. It will also play an important part in the region’s portfolio/process management and financial reporting activities partnering closely with UW and Distribution leadership to support market persistency, EVA and NBG goals. 

 

Candidates for this position will have an in-depth understanding of manual and experience rating models and related pricing tools; knowledge of pricing adjustments, alternative and complex funding arrangements, and available plan designs; and an ability to assess financial risk based on multiple information sources.  They will also possess the ability to coach, educate and develop other underwriters through performance of effective case reviews and risk discussions. This role also requires renewal underwriting on an assigned in-force book of large and complex client business, focused on attaining profitable growth, persistency, and earnings as well as book of business management. 

 

Core UW Role Responsibilities:

 

• Primary responsibility will be to lead in the development and strategy execution of a region’s underwriting staff through the regular performance of technical case reviews and participation in large case strategy discussions.
• Works closely with Market/Regional VPs to mentor and train less tenured underwriters on a region’s staff.  Help increase their understanding of risk management, underwriting, and segment & region strategy, maintaining focus on technical knowledge, competency skill development, and application of strategy. Provides constructive input on employee performance, assessment, and development plans.
• Is the subject matter expert (along with Market/Regional VPs) and additional resource to a region’s staff members on risk-based adjustment / investment guidance, unique plan design provisions, and application of plan design change impact.
• Influences underwriting best practice and plays an integral part in ensuring they, along with key market themes, are shared across the team. Provides input to matrix partners on product development and pricing.
• Act as the UW technical expert on enterprise projects associated with new innovations or initiatives.
• This role encompasses both new business and renewal underwriting for NYL Group Benefits Solutions, Accident, Long Term Disability, Short Term Disability, and Absence products and services.
• Manages an assigned book of business including large complex clients and alternative funding arrangements, while focusing on attaining profitable growth, persistency, and earnings.
• Perform case specific risk assessments to develop appropriate premium rates for a given risk to support the market’s growth and profitability goals.
• Responsible for account level rate development and conducting customer negotiations with Sales on a more complex book of business.
• Develops and monitors account earnings plans to achieve growth and profitability.
• Develops strategic recommendations related to market competition, products, and pricing.
• Partners with sales and brokers to deliver customer presentations and acts as financial consultant on case-specific issues.
• Influential in a region’s P&L results.
• Work in conjunction with Market/Regional VPs to develop function/business strategy plans and policies to address service and/or