“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.