United States onlyLocation Designation: Hybrid - 3 days per week
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.
This position primarily involves a hybrid work schedule - working remotely: Monday & Friday / on site: Tuesday, Wednesday and Thursday.
New York Life is seeking a highly talented and driven market strategy senior associate to join our dynamic, high-performing team to support the development and launch of go-to-market strategies of IL’s COLI and BOLI products and will also include broader product positioning and management support.
Reporting to the Head of Market Strategy, this position will lead, enhance and be responsible for the continued evolution of sustainable growth strategies for the Institutional Life business as well as support both inforce and new business to grow and maintain IL’s earning goals.
Key Responsibilities
Strategic Planning & Product Positioning
- Assist in the development of new go-to-market strategies for institutional life products (BOLI, COLI and ICOLI) including opportunity sizing, gap/risk analysis, competitive positioning, and gain alignment with senior stakeholders (e.g., sales distribution)
- Lead development of product positioning strategies, including clearly identifying target audience and key value propositions
- Support Product Management in the planning and implementation of new and innovative products
- Support product development process and solutioning by leading dialogue with sales to capture real time market movement, challenges, and feedback
- Maintain sales plan with IL Sales and Finance team for all product lines
- Collaborate with pricing team to monitor emerging experience and refine key pricing assumptions and approaches especially BOLI rate strategy
- Routinely support the organization on senior leadership requests such as Business Reviews, Strategic Planning, Market Strategy Offsite, etc.
Insights Development (Business, Category and Competitor)
- Analyze industry trends, performance of current products, field feedback, and other data points in making recommendations on and supporting early-stage product ideation and business case development
- Shape analysis of the category and build competitor insights by leveraging brokers, IL Distribution intel and external resources and track BOLI, Traditional COLI, and ICOLI product trends (Rates, Product Portfolios, Funds and Broker relationships)
- Synthesize, consolidate, and report out on key industry data including but not limited to IBIS/LIMRA/FDIC/S&P Capital IQ Pro to help inform strategic decisions making
- Lead and conduct third party led market research studies to better assess competition, and anticipate future business needs
Desired Qualifications
- 7+ years of relevant experience (e.g., in strategy, consulting, product management), ideally with a background in life insurance, preferred
- Desired backgrounds include research, corporate and business strategy, product development
- Strong analytical, problem-solving, project management and critical thinking skills
- Excellent communication skills (written and verbal), with ability to partner effectively with various senior stakeholders and influence key decisions.
- Ability to work independently in a fast-paced and dynamic environment, while managing competing priorities
- Ability to work collaboratively and develop strong working relationships with team members/partners
- Bachelor’s degree required, MBA desirable
- Proficient in Microsoft Office, especially Excel and PowerPoint
This position primarily involves a hybrid work schedule - working remotely: Monday & Friday / on site: Tuesday, Wednesday and Thursday.
Salary range: $90,000-$135,000
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.
Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.
