Vice President, Head of Financial Risk Management

Location Designation: Hybrid - 3 days per week
The Vice President, Head of Financial Risk Management will lead New York Life's oversight of Credit Risk, Market Risk, and Liquidity Risk across all asset classes-including public credit, private placements, structured securities, real estate, and alternatives. This individual will manage a team of experienced risk professionals and quantitative analysts responsible for driving a forward-looking view of enterprise financial risk and its implications for business performance and strategic growth.
This role is accountable for developing and maintaining frameworks and processes for financial risk oversight, stress testing, capital charges, and reinsurance risk. It also serves as a key bridge between financial risk analytics and strategic business decision-making, including deal evaluation, capital deployment, and portfolio optimization. The ideal candidate will combine strong technical acumen with leadership capability and business insight, fostering effective partnerships across Risk Management, Finance, Investments, and Asset Management. This role will also act as a key advisor to senior management on emerging market dynamics, reinsurance deals, regulatory expectations, and capital efficiency considerations.
The role is ideal for a risk leader who combines technical depth with the ability to influence enterprise decision-making and shape New York Life's financial risk strategy.
Key Responsibilities
The Head of Financial Risk Management will lead strategic oversight, risk methodology development, reinsurance risk governance, and enterprise partnership efforts across the organization. Responsibilities include:
Strategic Oversight & Governance

• Lead and coordinate the Credit Risk, Market Risk, and Liquidity Risk teams.
• Develop and enhance frameworks for financial risk measurement, monitoring, and governance.
• Serve as a member of the various financial risk committees and present to senior management and the Risk Steering Committee.
• Review, monitor, and maintain financial risk limits in alignment with enterprise risk appetite.

Risk Methodologies, Analytics, & Reporting

• Oversee the development of credit cost and capital charge methodologies, enterprise stress testing programs, and risk reporting frameworks that inform strategic capital and investment decisions.
• Lead asset sector reviews and contribute to the proactive identification of emerging risks and credit cycles.
• Lead efforts to modernize financial risk analytics and data capabilities, ensuring robust insight generation and timely reporting for senior stakeholders.
• Conduct derivative effectiveness testing and support economic surplus at risk analyses.

Reinsurance & Transaction Risk Oversight

• Develop, support, and maintain a Reinsurance Risk Framework; provide risk oversight for asset-intensive reinsurance transactions.
• Advise senior leaders on reinsurance deal evaluation, market dynamics, and capital efficiency considerations.

Partnership, Communication & Talent Leadership

• Foster collaboration across Risk Management, Finance, Investments, and Asset Management partners.

• Elevate the visibility and clarity of financial risk insights through effective communication, storytelling, and executive engagement.
• Develop and mentor a high-performing risk team that promotes transparency, coordination, and proactive risk management.

Qualifications

• Minimum 10+ years of financial risk management experience with deep specific qualifications in credit risk management and experience in market and liquidity risk disciplines.
• Demonstrated experience linking financial risk insights to balance-sheet management, ALM, and capital strategy.
• Insurance general account experience.
• Strong knowledge of investment risk frameworks within insurance or asset management.
• Experience with asset-intensive reinsurance, structured credit, privates, and real estate investments preferred.
• Demonstrated ability to influence senior stakeholders and shape enterprise risk perspectives.
• Proven ability to lead diverse teams and influence across functions and levels, including executive leadership.
• Demonstrated experience in stress testing, capital analysis, and risk reporting.
• Knowledge of regulatory frameworks such as NAIC, ORSA, and other insurance capital standards preferred.
• Exceptional communication and relationship management skills.
• Bachelor's degree required; MBA, CFA, or FRM preferred.

Leadership Competencies

• Strategic thinker with ability to translate risk insights into business decisions.
• Strong collaborator across Risk Management, Finance, Investments, and Asset Management.
• Change leader who challenges and enhances processes and governance frameworks.
• Proven ability to operate effectively in a dynamic market and regulatory environment.
• Effective talent developer and team builder.
• Operates with sound judgment and executive presence

Pay Transparency
Salary Range: $250,000 to $285,000
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.
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.Click hereto discover more about our comprehensive benefit options or visit our NYL Benefits Site.
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. Click here to learn more about New York Life's leadership in this space.
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.
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Visit our Newsroom to learn more about how our company is constantly evolving to meet our clients' and employees' needs.
Job Requisition ID: 92996