Location: Philadelphia,PA, USA
Job Requisition ID: 90699
Location Designation: Hybrid - 3 days per week
Group Benefit Solutions delivers comprehensive insurance and absence management solutions for mid-sized and large companies. Our work fosters a healthier, happier, and more secure workforce, contributing to New York Life's legacy of being there when we're needed most. Here, you'll design, implement, and support these solutions directly impacting employees' lives. At our core, we provide financial security and peace of mind to people through our absence, accident, disability, voluntary benefits, and life insurance solutions. Click here to learn more about Group Benefits solutions.
Role Overview:
LAUNCH, which stands for Leadership and Underwriting for New Career Hires, is designed to help you accelerate your underwriting career and establish early professional success. LAUNCH focuses on comprehensive technical training, hands-on learning, mentor support, and professional development opportunities. There are opportunities to start the LAUNCH Program in June 2025.
As part of our Group Benefit Solutions Underwriting team, you will have a direct impact on the financial results of our business while helping us deliver on a longstanding commitment of providing financial protection and peace of mind to the millions we serve. As an Underwriting Analyst, you will develop skills across several business competencies including:
Risk Management & Assessment
* Assess the risk and underwrite prospective and enforce clients within Group Benefit Solutions product portfolio: Life, Accident, Disability, and Absence Administration
* Communicate pricing, profitability, and risk profile of clients with internal matrix partners
* Contribute directly to company financial goals through risk decisions while balancing and maintaining favorable financial outcomes at a broader book of business level
Collaboration & Consultation
* Partner with other underwriting team members to effectively solve problems both internal and external to Group Benefit Solutions Underwriting
* Negotiate with matrix partners to find creative and collaborative solutions that create long-term value for both our clients and our organization
Professional Development & Leadership
* Active engagement and involvement in the LAUNCH Program over the course of your first year
* Continuous learning and development through both structured and non-structured training opportunities beyond your first year
* Develop a growth mindset that welcomes challenges, quickly learns from, and applies feedback, and finds inspiration from the success of team members
Time & Priority Management
* Act with a sense of urgency to meet assigned deadlines for specified tasks
* Ability to use sound judgement when prioritizing several tasks at once
What You'll Do:
As a Full-Time Underwriting Analyst in the LAUNCH Program, you can expect a structured start to your career that includes foundational training consisting of multiple training sessions during your first year. Below is a sample timeline of what you can expect in year one and beyond:
Your First Year
* Participate in structured training sessions in the LAUNCH Program focusing on technical training and professional development opportunities. These sessions will consist of both classroom and hands-on learning opportunities that establish a solid foundational knowledge of underwriting concepts and principles.
* Following each session, you will apply the concepts and principles learned in the program by working on active business opportunities that will eventually become larger and more complex. You will work alongside your mentor as you gain independence in your daily work and decision-making skills.
After Your First Year
* You will have completed the LAUNCH Program and will continue directly contributing to our business goals and results as an underwriter.
* You will be assigned to support a sales region, manage an enforce book of business, and own more of the daily decision-making process.
* You will continue to participate in training opportunities to enhance your underwriting knowledge through organizational Group Benefit Solution training sessions and manager and mentor coaching and feedback.
* In addition to your core Underwriting responsibilities, there also exist many project opportunities that will allow you to engage with and build a network of peers both within Underwriting and across other New York Life departments.
Where You'll Work
The Underwriting Analyst position is in the Philadelphia Underwriting hub. The Philadelphia hub is in the heart of the city at Two Liberty Place surrounded by all the wonderful things Philly has to see and do. The Philadelphia hub is the largest Group Benefit Solutions Underwriting hub with a diverse group of talented individuals with a variety of backgrounds and experience levels. Over the years, we have continually grown our Philadelphia team through on campus recruiting efforts at several local universities.
What You'll Bring:
* Strong analytical and problem-solving skills
* High comfort level with math/numbers
* Excellent verbal and written communication skills
* A passion and dedication to becoming a leader within the financial services industry
* Strong business acumen along with leadership and innovative thinking skills with a focus on customer-centricity
Required Skills:
* Bachelor's degree in the following majors and/or minors are preferred: Risk Management, Economics, Finance, Accounting, Mathematics, Data Analytics, Business Management, or a related field
Preferred Skills:
* Preferred 3.0 GPA or higher
* Some travel may be required (