Vice President, Head of Financial Risk Management

 

Location Designation: Hybrid - 3 days per week 

 

 

The Vice President, Head of Financial Risk Management will lead New York Life’s oversight of Credit Risk, Market Risk, and Liquidity Risk across all asset classes—including public credit, private placements, structured securities, real estate, and alternatives. This individual will manage a team of experienced risk professionals and quantitative analysts responsible for driving a forward-looking view of enterprise financial risk and its implications for business performance and strategic growth.

This role is accountable for developing and maintaining frameworks and processes for financial risk oversight, stress testing, capital charges, and reinsurance risk. It also serves as a key bridge between financial risk analytics and strategic business decision-making, including deal evaluation, capital deployment, and portfolio optimization. The ideal candidate will combine strong technical acumen with leadership capability and business insight, fostering effective partnerships across Risk Management, Finance, Investments, and Asset Management. This role will also act as a key advisor to senior management on emerging market dynamics, reinsurance deals, regulatory expectations, and capital efficiency considerations.

The role is ideal for a risk leader who combines technical depth with the ability to influence enterprise decision-making and shape New York Life’s financial risk strategy.

Key Responsibilities

The Head of Financial Risk Management will lead strategic oversight, risk methodology development, reinsurance risk governance, and enterprise partnership efforts across the organization. Responsibilities include:

 

Strategic Oversight & Governance

• Lead and coordinate the Credit Risk, Market Risk, and Liquidity Risk teams.
• Develop and enhance frameworks for financial risk measurement, monitoring, and governance.
• Serve as a member of the various financial risk committees and present to senior management and the Risk Steering Committee.
• Review, monitor, and maintain financial risk limits in alignment with enterprise risk appetite.

 

Risk Methodologies, Analytics, & Reporting

• Oversee the development of credit cost and capital charge methodologies, enterprise stress testing programs, and risk reporting frameworks that inform strategic capital and investment decisions.
• Lead asset sector reviews and contribute to the proactive identification of emerging risks and credit cycles.
• Lead efforts to modernize financial risk analytics and data capabilities, ensuring robust insight generation and timely reporting for senior stakeholders.
• Conduct derivative effectiveness testing and support economic surplus at risk analyses.

 

Reinsurance & Transaction Risk Oversight

• Develop, support, and maintain a Reinsurance Risk Framework; provide risk oversight for asset-intensive reinsurance transactions.
• Advise senior leaders on reinsurance deal evaluation, market dynamics, and capital efficiency considerations.

 

Partnership, Communication & Talent Leadership

• Foster collaboration across Risk Management, Finance, Investments, and Asset Management partners.

• Elevate the visibility and clarity of financial risk insights through effective communication, storytelling, and executive engagement.
• Develop and mentor a high-performing risk team that promotes transparency, coordination, and proactive risk management.

Qualifications

• Minimum 10+ years of financial risk management experience with deep specific qualifications in credit risk management and experience in market and liquidity risk disciplines.
• Demonstrated experience linking financial risk insights to balance-sheet management, ALM, and capital strategy.
• Insurance general account experience.
• Strong knowledge of investment risk frameworks within insurance or asset management.
• Experience with asset-intensive reinsurance, structured credit, privates, and real estate investments preferred.
• Demonstrated ability to influence senior stakeholders and shape enterprise risk perspectives.