Job Details

Workforce Planning - Corporate Vice President 64934

Company name
New York Life Insurance Company

Location
New York City, NY

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Profile

New York Life Insurance Company (“New York Life” or “the company”) is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterrey New York Life in Mexico.

 

New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2016 operating earnings of $1.954 billion. Total assets under management at year end 2016, with affiliates, totaled $538 billion.  As of year-end 2016, New York Life’s surplus was $23.336 billion**.  New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody’s Aaa; Standard & Poor’s AA+. (Source: Individual Third Party Ratings Report as of 8/17/16).

 

Financial strength, integrity and humanity—the values upon which New York Life was founded—have guided the company’s decisions and actions for over 170 years.

 

The New York Life Service team consists of 2,000+ Service professionals that support over 12,000 career agents and more than 4 million clients from the point of applying for a New York Life policy or product through claims processing.  The Service team provides support across the customer engagement life cycle for a variety of products including life insurance, annuities, and NYLIFE Securities sold through our agent distribution channel.  The Service organization is responsible for processing more nearly 400,000 applications a year and supports over 30 million customer touch points annually across  various service channels.

 

The Service team is seeking a Corporate Vice President (CVP) to lead the Workforce Planning team that will optimize the resource alocation of ~1,800 non-exempt employees in ~170 locations across the U.S.  The CVP will be responsible for forecasting and planning resource utilization across all time horizons – from annual to hourly.  The candidate will lead efforts to match the supply of resources with customer demand in a dynamic environment with changing customer engagement behaviors.

 

The CVP will be instrumental to the success of the Service organization as we look to realize our 2020 vision.  The candidate will coordinate with senior leaders across Service to ensure alignment with broader business objectives, including a desire to expand our hours of operation to better meet the needs of our customer base and new customer expectations that are informed by experiences beyond the Life & Annuity insurance business.  The CVP will lead the strategic thinking around how the Service organization most efficiently and effectively staffs to support newly created customer engagement channels (i.e. chat).  Relatedly, the candidate will guide the organization through the deployment of new CRM and customer web portal platforms – proactively planning the staffing strategy and informig the sequence and prioritization of new technology capabilities to minimize the impact to our workforce.  In addition, he/she will be accountable for identifying high-leverage opportunities to share work across Service teams and cross-train resources to better match resource supply with customer demand.

 

Responsibilities:

 

*Lead workforce planning of 1,800 employees in 170+ locations: ensure highly accurate demand forecasts, define staffing schedules based on capacity plans, and actively distribute/redistribute resources to match demand in real-time *Manage a team of ~10 workforce planning professionals; recruit, coach, and develop talent; define performance standards and set direction for the team *Define hours of operation for each channel and location based on customer needs; as approriate, develop business case for expansion of Service hours of operation *Partner with data, reporting, and analytics team to develop and distibute targeted workforce planning performance reports to all levels of management *Incorporate new channels including face-to-face, chat, and self-service telephone into forecasting models, capacity plans, and real-time management processes and protocols *Ensure highly accurate demand forecasts for  all demand channels

*Develop robust models to estimate demand across all lines of business,  engagement channels, and locations *Document and manage assumptions associated with each forecast scenario *Continuously refine models based on insights garnered from actual demand 

*Define staffing schedules based on capacity plans

*Partner with customer-facing teams to develop staffing plans and optimize resource allocation based on forecasts *Identify opportunities to flex resources to support higher demand functions *Develop staffing models for more than 150 General Office locations across the U.S.

*Actively distribute/redistribute resources to match demand in real-time

*Actively manage inbound and outbound demand flows, balancing over and uner-capacity conditions across the Service organization *Flex resources to accommodate demand and changes to schedule and demand and capacity

*Stand-up capability to actively allocate demand to teams – manage workflow across Service teams, as well as internal and external partners *Identify high-leverage opportunities to share workload across Service, highlighting opportunities for Service to achieve financial commitments through re-allocation of resources across the Service landscape *Identify need for investment in new technologies, build the business case for investment, and lead implement efforts *Drive continuous improvement to workforce planning discipline: develop and deploy on-demand mechanisms to automate and empower self-service management of schedule modifications by Service professionals; enable content “push” to Service professionals to optimize delivery of trainings and communications during periods of low demand *Serve as a strategic though partner for the Service Senior Leadership Team for all matters related to staffing optimization *Employ leading edge workforce planning practices; engage in industry forums and panels to stay current with the state of the art; understand and stay ahead of technology changes

Qualifications:

 

*Bachelor’s degree in analytical discipline required (Mathematics, Engineering, Economics) required *Master’s degree preferred *Extensive experience leading workforce management in a call center and processing environment *Expertise with Verint Workforce Management software *Demonstrated problem solving skills *Must have strong leadership, written and oral communication skills *Customer-centric orientation to delivery *Lean / Six Sigma certification preferred

SF:LI-KH1

SF:EF-KH1

EOE M/F/D/V

 

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*Based on revenue as reported by Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual), Fortune Magazine, June 17, 2016.  See http://fortune.com/fortune500/  for methodology.

**Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company's long-term financial strength and stability and is presented on a consolidated basis of the company.

 

1. Operating earnings is the key measure use by management to track Company's profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US (GAAP), with certain adjustments Company believes to be appropriate as a measurement approach (non GAAP), primarily the removal of gains or losses on investments and related adjustments.

 

2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.

Company info

New York Life Insurance Company
Website : http://www.newyorklife.com/

Company Profile
New York Life Insurance has been providing life insurance policies in the Big Apple since it was a tiny seed. While the top mutual life insurer in the US has branched out a bit, it retains its core business: life insurance and annuities. Its products include long-term care insurance and special group policies sold through AARP and other affinity groups and professional associations. New York Life Investments' offerings include mutual funds for individuals and investment management services for institutional investors. Through New York Life International, the firm provides life policies in overseas markets. Founded in 1841, New York Life is owned by its policyholders.

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