Insurance Portfolio Manager

New York Life Insurance; New York (NY); Hybrid; USD 140,000 - 195,000; Full time

Benefits offered by this job

Summer flex time

Tuition reimbursement

Company-sponsored pension plan

Family-friendly benefits

Job summary

New York Life Insurance seeks a dynamic Portfolio Manager for the General Account, leading investment strategy and asset allocation with liaison across OCIO and business units. The role drives pricing, capital planning, and risk management for a multi-hundred billion portfolio.

The position requires 10+ years of experience in insurance/asset-intensive finance, strong leadership, and credentials (CFA/FSA preferred). Hybrid work in New York.

Qualifications

• 10+ years professional experience in insurance or asset intensive financial services industry
• Deep knowledge of insurance assets and liabilities, including capital markets experience
• Experience presenting investment recommendations and portfolio strategy to executive leadership and various audiences
• Bachelor’s degree in Finance, Mathematics, Actuarial Science or similar field
• Industry credentials (e.g. CFA, FSA etc.) and/or advanced degree strongly preferred
• Ability to think outside the box
• Ability to work independently as well as be a thought leader
• Ability to work with tight deadlines and changing priorities and requirements
• Ability to create effective partnerships with diverse roles and positions throughout the organization

Responsibilities

• Serve as the primary investment point of contact and thought partner for the insurance businesses, translating business objectives into actionable investment strategy and recommendations
• Lead the development of investment strategies and long-term strategic asset allocation targets for product portfolios to enhance product pricing and support new business growth objectives
• Partner with the GAPM team to manage asset liability management positioning for responsible product lines
• Partner with the GAPM team and stakeholders to develop annual investment program for pricing, financial planning, and asset liability management
• Support various capital management and reinsurance initiatives across the firm
• Develop strategies to enhance the financial performance of the existing investment portfolio while improving risk resiliency
• Ensure business investment strategy is executed in alignment with investment policy, regulatory requirements, and risk appetite to meet business objectives
• Assist in portfolio trade construction, including Asset Transfers to manage asset liability management, portfolio construction, cash management and liquidity
• Assist in development of investment assumptions used for new business pricing, in-force asset, and capital adequacy testing, including development of future reinvestment strategies
• Lead the quarterly business asset liability committee meetings with business unit executives and finance leaders, providing strategic investment insights, updates, and recommendations
• Partner across the OCIO, such as the leaders responsible for data and analytics, derivatives and alternatives execution, and business development, to ensure successful execution of the investment program

Skills

Executive presence

Communication skills

Leadership abilities

Independent thinking

Thought leadership

Deadline-driven

Cross-functional partnerships

Strategic investment thinking

Portfolio strategy experience

Education

Bachelor’s degree in Finance/Mathematics/Actuarial Science

CFA/FSA credentials or similar

Advanced degree preferred

Job description

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Portfolio Manager - Insurance General Account

New York, New York, United States

Hybrid

Job Description

Requisition ID

94859

Job Function

OCIO

Location

New York,New York,United States

Role Location Designation

About the Office of the Chief Investment Officer

The Office of the Chief Investment Officer (OCIO) leads portfolio strategy and capital allocation for New York Life’s $340+ billion General Account. As the steward of the company’s balance sheet, the OCIO is responsible for asset allocation, risk oversight and long-term investment performance across public and private markets.

Working in close partnership with New York Life Investment Management and affiliated investment teams, the OCIO ensures disciplined portfolio construction aligned with the company’s financial strength and policyholder commitments.

The mission of the General Account Portfolio Management (GAPM) team within the Office of the Chief Investment Officer (OCIO) at New York Life is to serve as the strategic partner for the insurance businesses as well as the asset management teams in managing the end-to-end investment process for the General Account —the over $370 billion investment portfolio that underpins the long-term promises and guarantees we make to policy owners. The team pairs deep liability expertise with rigorous asset execution, ensuring each portfolio is optimally positioned against its unique liability profile while delivering consistent risk-adjusted outcomes in support of the company’s long‑term objectives.

We are seeking a dynamic Insurance Portfolio Manager to join New York Life within the General Account Portfolio Management team. This role will partner closely with stakeholders across the company to help support the business’s overall financial and growth objectives.

KEY DUTIES & RESPONSIBILITIES

• Serve as the primary investment point of contact and thought partner for the insurance businesses, translating business objectives into actionable investment strategy and recommendations
• Lead the development of investment strategies and long-term strategic asset allocation targets for product portfolios to enhance product pricing and support new business growth objectives
• Partner with the GAPM team to manage asset liability management positioning for responsible product lines
• Partner with the GAPM team and stakeholders to develop annual investment program for pricing, financial planning, and asset liability management
• Support various capital management and reinsurance initiatives across the firm
• Develop strategies to enhance the financial performance of the existing investment portfolio while improving risk resiliency
• Ensure business investment strategy is executed in alignment with investment policy, regulatory requirements, and risk appetite to meet business objectives
• Assist in portfolio trade construction, including Asset Transfers to manage asset liability management, portfolio construction, cash management and liquidity
• Assist in development of investment assumptions used for new business pricing, in-force asset, and capital adequacy testing, including development of future reinvestment strategies
• Lead the quarterly business asset liability committee meetings with business unit executives and finance leaders, providing strategic investment insights, updates, and recommendations
• Partner across the OCIO, such as the leaders responsible for data and analytics, derivatives and alternatives execution, and business development, to ensure successful execution of the investment program
• Proven leadership abilities
• Strong executive presence and communication skills
• 10+ years professional experience in insurance or asset intensive financial services industry
• Deep knowledge of insurance assets and liabilities, including capital markets experience
• Experience presenting investment recommendations and portfolio strategy to executive leadership and various audiences
• Bachelor’s degree in Finance, Mathematics, Actuarial Science or similar field
• Industry credentials (e.g. CFA, FSA etc.) and/or advanced degree strongly preferred
• Ability to think outside the box
• Ability to work independently as well as be a thought leader
• Ability to work with tight deadlines and changing priorities and requirements
• Ability to create effective partnerships with diverse roles and positions throughout the organization

Pay Transparency

Salary Range:$140,000-$195,000

Discretionary bonus eligible:Yes

Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Company Overview

At New York Life, our 180-year legacy of purpose and integrity fuels our future. As we evolve into a more technology-, data-, and AI-enabled organization, we remain grounded in the values that drive lasting impact.

Our diverse business portfolio creates opportunities to make a difference across industries and communities—inviting bold thinking, collaborative problem-solving, and purpose-driven innovation. Here, you’ll find the rare balance of long-standing stability and forward momentum, supported by an inclusive team that honors tradition while embracing progress.

As a Fortune 100 mutual company, we offer a place to grow your skills, contribute to meaningful work, and deliver solutions that matter. Your ideas drive what’s next, and your growth powers it.

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. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com .

Job Requisition ID: 94859

Family Friendly Benefits

Find benefits that support your unique family situation, including fertility assistance, paid new-parent benefits, backup childcare services, free virtual tutoring, and more.

We Invest in Your Future

Enjoy a more secure future with a company-sponsored pension plan for eligible employees and a savings plans with a company match 1 .

Take advantage of our tuition reimbursement program to further your education and advance your career with job-related courses and programs.

Summer Flex Time

Take time for yourself and your loved ones. Enjoy reduced working hours during the summer months.

Disclaimer 1 :

Eligibility for, and benefits under, the Pension Plan and 401(k) Savings Plan (“Plans”) are determined in accordance with the terms of the applicable plan document. Employees of certain subsidiaries, including but not limited to Group Benefit Solutions, employees of Life Insurance Company of North America and New York Life Group Insurance Company of NY, are not eligible to participate in the Pension Plan. In the event of a conflict between this information and the applicable plan document, the applicable plan document governs. The Company reserves the right to amend or terminate the Plans at any time.