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Employer Quick Look

New York Life - Corporate

 
Insurance
10,000 - 25,000 employees  |  
Overview

New York Life is a Fortune 100 Company, the largest mutual life insurance company in the United States and one of the World’s Most Admired Companies*. Our policyholders are "owners" of the Company.

We are:
  • Innovative
  • International
  • Socially Responsible
Culture
New York Life lives by three core values:
  • Financial Strength — $169 billion in consolidated assets (12/31/06) … the highest possible ratings from all four agencies, including being rated Aaa by Moody's, rated A++ by A.M. Best, rated AAA by Standard and Poor's, and rated AAA by Fitch ... record capital and surplus (essentially, our net worth) of $13.9 billion in 2006
  • Integrity — Unwavering compliance with laws and regulations … policies and procedures that are regularly reviewed and updated ... among the best trained professionals in the industry
  • Humanity — $75 million in donations since 1979 through the New York Life Foundation … focus on “Nurturing the Children” ... 15,000 volunteer hours by employees, agents and retirees in 2006 through Volunteers for LIFE
Benefits

"I was very happy to see the emphasis that New York Life and its employees put on humanity and volunteerism. There are so many ways to get involved and I feel like I have not even scratched the surface.” – Adam, joined New York Life in 2006 You could presume that New York Life helped the victims of Hurricane Katrina in 2005, and you’d be right – we donated nearly $2 million toward relief efforts. But did you know that we also helped the people of New Orleans more than 150 years before Katrina, during an outbreak of yellow fever? One way we express our commitment to the community is through the New York Life Foundation, which has made $75 million in donations since 1979. The majority of our resources today are dedicated to Nurturing the Children , a Company-wide initiative focused on mentoring, safe places to learn and grow, and education for young people. Our Volunteers for LIFE program, made official in 1998, gives our people opportunities to give back to the community. In 2006, our employees, agents and retirees across the U.S. fed the hungry, acted as Big Brothers and Big Sisters, and otherwise donated more than 15,000 hours of their time.

Career Opportunities
“There are so many opportunities that one can practically change careers while still working for the same company.” — Jennifer, joined New York Life in 2006

Life and Annuity Business — Offering innovative insurance and annuity products to help clients in the United States protect income and grow wealth in their working years, and protect their lifestyle and distribute wealth in their retirement years. Life and Annuity is sustained by:
  • Agency — The direct link to New York Life agents and managers in the field, focused on recruiting, training and developing the industry’s most professional agents and managers. Agency includes our Cultural Markets Division, which is dedicated to seven key markets: African-American, Asian-Indian, Chinese, Hispanic, Korean, Vietnamese and Women.
  • Brokerage (NYLIFE Securities, LLC) — Our registered broker/dealer, representing another distribution channel.
  • Financial Management — Actuaries, accountants, programmers, financial analysts, investment experts, systems specialists, reinsurance experts and other professionals dedicated to giving senior management information to prudently manage Life and Annuity’s financial health.
  • Individual Policy Services — One of New York Life’s largest business areas, with highly trained customer service professionals who sustain our agents and customers by underwriting and issuing policies, processing premiums, paying claims, disbursing benefits, balancing accounts, planning for and testing computer systems and designing service strategies.
  • Marketing — Actively involved in both the tactical (i.e., generating leads, creating promotional materials) and strategic (i.e., customer segmentation, specific marketing programs) aspects of marketing Life and Annuity products and services.

Advanced Markets Network — Aimed at the upscale wealth transfer and executive benefits market, with headquarters in Leawood, Kansas and an office in New York City.

New York Life International — Focused on offering insurance and asset accumulation products to individuals and groups in select emerging markets in Latin America and Asia, including Argentina, Mexico, China, Hong Kong, India, Philippines, South Korea, Taiwan and Thailand.

New York Life Investment Management (NYLIM) — Delivering investment management services across the spectrum of asset classes to institutional clients as well as individual investors. NYLIM is also a leading provider of retirement plans, and is recognized as one of the top providers of guaranteed products in the United States.

Special Markets — Comprising the following:

  • Tampa Operations — Bringing together various disciplines including actuarial, marketing, underwriting, information systems, claims and member services. Tampa Operations manages the AARP Life Insurance Program – exclusively selling to more than 34 million people age 50+ — and the Agent Lead Generation direct mail and telemarketing programs, enabling career agents to prospect for clients.
  • Long-Term Care — Located in Austin, Texas, and responsible for all facets of product development, sales support and administration of our long-term-care insurance line.
  • Group Membership Association Division — Underwriting and administering group life, health and disability income programs for professional associations and other affinity groups such as the Uniformed Services Benefit Association.


Business Resilience — With three main goals: (1) Protect the safety and health of New York Life employees, as well as our assets and those of our customers, (2) Minimize the impact of disruptions to business operations and (3) Manage records in accordance with business, legal and regulatory requirements.

Corporate Audit — Conducting independent appraisals of the adequacy and effectiveness of internal controls to safeguard New York Life’s assets and ensure that we are both accurate in financial reporting and compliant with laws and regulations.

Corporate Compliance — Developing and maintaining compliance standards and procedures to help ensure that products and services meet federal and state laws and regulations.

Corporate Office of Business Conduct — Focused on the legal, financial and ethical conduct of all managers, employees and agents of New York Life.

Corporate Communications — Enhancing and preserving New York Life’s brand with our many constituencies through activities that include advertising, media relations, corporate sponsorships, employee communications, video productions, philanthropy and volunteerism.

Corporate Information — New York Life’s technology area, which sets our strategic technological direction and manages our information technology. Among its many activities, this area builds and runs systems and applications – enterprise-wide and business-specific — and manages both our Internet and Intranet.

Corporate Finance — Whose key responsibilities are to:
  • Maintain the integrity of our accounting books and records.
  • Oversee accounting, financial reporting and related system controls.
  • Report the Company’s financial results and analyze the drivers of those results.
  • Perform investment accounting and reporting.

Human Resources — Responsible for designing and administering, talent management, compensation, benefits and employee relations programs. Also provides human resources consulting to the business lines.

Investment Policy and Asset Allocation: Office of the Chief Investment Officer — Charged with development of corporate investment policy, asset allocation and management of the Surplus Management Account (SMA) at the corporate level, as well as in support of business units.

Office of the General Counsel & Office of the Secretary — Providing legal advice to New York Life’s business units and profit centers, and overseeing subsidiary legal operations. The Office of the General Counsel has two primary goals:

  • Support New York Life’s business objectives in a complex legal and regulatory environment and;
  • Limit risk in an efficient and cost-effective manner consistent with overall corporate strategy.

The Office of the Secretary focuses on corporate governance matters for New York Life and certain key subsidiaries.

Office of Government Affairs — Acting as New York Life’s main lobbying arm as it monitors and influences international, federal and state governments on the Company’s behalf.

Our Mission

New York Life’s mission is to provide financial security and peace of mind through our insurance, annuity and investment products and services.

By continuing to be a mutual company, we are uniquely aligned with our customers. By maintaining superior financial strength, we protect their future. By acting with integrity and humanity, we earn their trust and loyalty.

Every decision we make, every action we take has one overriding purpose: To be here when our customers need us.

To gain more of an understanding on our mission, read New York Life CEO Ted Mathas' interview with the New York Times on Investing in Longevity and Security.

That is why we call ourselves The Company You Keep®

We Are Innovative
New York Life is a company of "firsts":
  • Product firsts, including our Guaranteed Income for Life feature
  • The first to insure women at the same rates as men
  • The first life insurance company to insure people with physical disabilities
  • The first major insurance company to offer extensive online customer service
We Are International

New York Life is a global company. We have an extensive presence throughout the United States and in high-growth emerging markets around the world, from Buenos Aires to Shanghai, Mexico City to Mumbai.

Today we are exporting the industry's most innovative, distribution and service capabilities to a collection of international operations in Asia and Latin America. Max New York Life (a joint venture with Max India, Ltd.) is now the third largest private insurance company in new Insurance policies in India. Seguros Monterrey New York Life has become one of the most successful insurance companies in Mexico. And, we are rapidly expanding our presence throughout major population centers in China.

Our Diversity
Employee Network Groups

New York Life has established five Employee Network Groups:
  • African-American
  • Asian
  • Latino
  • Gay, Lesbian, Bisexual and Transgender
  • Women's Leadership Project



These groups host events throughout the year that celebrate the unique perspectives each person brings.

Our Women’s Leadership Project challenges women to maximize opportunities, enhance career development and achieve their personal best. Since its launch in 2003, the initiative has hosted over 25 events on topics such as women’s health and presentation skills, and held networking events, workshops and charitable drives for Dress for Success.

Cultural Markets

Our Commitment
We are committed to providing insurance protection and financial solutions to families and businesses in all of the communities in which we work and live. Some of the communities we are involved with are:

  • African-American
  • Asian-Indian
  • Chinese
  • Hispanic
  • Korean
  • Vietnamese
  • Why New York Life?
    Our Benefits

    New York Life offers employees competitive compensation and a flexible benefits package that includes:
    • Tuition assistance
    • 401(k) with company-matched contributions and retirement plan
    • Choice of health plans – medical and dental
    • Life insurance and long-term disability
    • On-site health and fitness centers, free of charge to employees
    • Back-up child care centers at various locations
    • Subsidized cafeterias

    Training and Development

    New York Life’s commitment to the development of our employees is mutually beneficial in that we:

    • maximize your contribution to the company, and
    • help you realize your career potential

    Our yearly development planning process is a sign of this commitment. Managers and employees prioritize goals for career development and come up with suggestions for achieving those goals.

    Our wide range of learning resources – from training courses to special projects – support employees’ development. New York Life’s development activities accommodate different learning styles, including e-learning, live classroom instruction, case studies, leadership workshops and access to books, articles, tips and video clips from experts in various subject matters.

    In other words, we give our employees ample opportunity to Grow With The Company You Keep®

    Contact Us
    New York Life Insurance Company
    51 Madison Avenue

    New York, NY 10010
    212-576-7000
    NewYorkLife.com