Portfolio Manager - Insurance General Account

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

Benefits offered by this job

Discretionary bonus eligible

Executive leadership exposure

Job summary

New York Life is seeking an Insurance Portfolio Manager within the General Account Portfolio Management team. The role partners with stakeholders across the company to manage the end-to-end investment process for a multi-hundred-billion-dollar portfolio, balancing liability profiles with strategic asset allocation.

The successful candidate will have 10+ years in insurance or asset-heavy finance, strong leadership, and experience presenting strategy to senior leaders.

Qualifications

• Bachelor’s degree in Finance, Mathematics, Actuarial Science or similar field.
• 10+ years of professional experience in insurance or asset-intensive finance.
• Proven leadership abilities and executive presence.
• Deep knowledge of insurance assets and liabilities, with capital markets experience.
• Experience presenting investment recommendations and portfolio strategy to executives.

Responsibilities

• Serve as primary investment point of contact for insurance businesses and translate objectives into investment strategy.
• Lead development of investment strategies and long-term asset allocation for product portfolios.
• Collaborate to manage asset liability management positioning for product lines.
• Develop annual investment program for pricing, financial planning, and ALM.
• Support capital management and reinsurance initiatives across the firm.
• Enhance financial performance of the investment portfolio while improving risk resilience.
• Ensure investment strategy aligns with policy, regulatory requirements, and risk appetite.
• Assist in portfolio trade construction and reinvestment strategy development.
• Lead quarterly asset liability committee meetings with executives.
• Collaborate with OCIO teams to ensure successful investment program execution.

Education

Bachelor’s degree in Finance, Mathematics, Actuarial Science or similar field

10+ years professional experience in insurance or asset intensive financial services

Leadership

Executive presence

Insurance assets knowledge

Portfolio strategy

Communication with executives

Job description

Location Designation: Hybrid - 4 days per week

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.

Job Title: Insurance Portfolio Manager

Location Designation: Hybrid - 4 days per week

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

Key Competencies:

• 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
• Overtime eligible: Exempt
• Discretionary bonus eligible: Yes
• Sales bonus eligible: No

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.

Our Benefits

We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.

Our Commitment to Inclusion

At New York Life, fostering an inclusive workplace is fundamental to who we are and how we serve our communities. We have a longstanding commitment to creating an environment where individuals can contribute their best and succeed together. This foundation is rooted in our core values of humanity and integrity, ensuring that every employee feels valued and supported. By embracing a broad range of perspectives and experiences, we achieve greater success and fulfill our promise of providing financial security and peace of mind to families across all communities.