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Pension Risk Transfer Manager information

What are some common challenges faced by a Pension Risk Transfer Manager during the execution of transactions?

A Pension Risk Transfer Manager often navigates complex regulatory requirements, tight transaction timelines, and the need to align multiple stakeholders, including plan sponsors, actuaries, and legal advisors. Managing sensitive data and ensuring accurate valuation of pension liabilities are critical, as errors can impact both financial outcomes and participant security. Effective communication, attention to detail, and problem-solving skills are essential to anticipate and address issues that may arise during the transfer process.

What is the difference between Pension Risk Transfer Manager vs Pension Actuary?

AspectPension Risk Transfer ManagerPension Actuary
CredentialsTypically requires actuarial certifications (e.g., ASA, FSA) and industry experienceRequires actuarial credentials (e.g., ASA, FSA) and often a state license
Work EnvironmentFocuses on managing pension risk transfer deals, client interactions, and project executionInvolves risk assessment, modeling, and valuation work within insurance or consulting firms
Industry UsageCommon in pension risk transfer, insurance, and consulting firmsWidely used in insurance companies, consulting firms, and government agencies

The main difference is that Pension Risk Transfer Managers oversee pension buyouts and risk transfer projects, focusing on deal execution and client management, while Pension Actuaries perform detailed risk assessments, valuations, and modeling to support these transactions. Both roles require actuarial credentials but differ in daily responsibilities and focus areas.

What are Pension Risk Transfer Managers?

Pension Risk Transfer Managers are professionals who oversee the process of transferring pension liabilities from a company's balance sheet to an insurance company or other financial institution. They help organizations manage and reduce the financial risks associated with defined benefit pension plans by facilitating transactions such as buyouts or buy-ins. These managers are responsible for evaluating pension plans, coordinating with stakeholders, and ensuring that the transfer process complies with regulations and meets the needs of both the plan sponsor and participants.

What are the key skills and qualifications needed to thrive as a Pension Risk Transfer Manager, and why are they important?

To thrive as a Pension Risk Transfer Manager, you need expertise in pension plan structures, actuarial analysis, financial risk assessment, and typically a background in finance, actuarial science, or a related field. Familiarity with pension management software, actuarial modeling tools, and regulatory compliance systems is crucial, along with credentials such as ASA, FSA, or CFA. Strong project management, negotiation, and client relationship skills help you navigate complex transactions and communicate effectively with stakeholders. These skills ensure the accurate assessment and successful execution of pension risk transfer deals, safeguarding client interests and regulatory compliance.
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Senior Associate, Pension Risk Transfer & Retirement Income Solutions

Senior Associate, Pension Risk Transfer & Retirement Income Solutions

New York Life

Jersey City, NJ • On-site

$115K - $140K/yr

Other

Medical, Life, Retirement

Posted 13 days ago

Job description

Location Designation: Hybrid - 3 days per week 

Business Unit Overview:

At Institutional Annuities, New York Life's specialized annuity business, you'll play a pivotal role in crafting financial stability for businesses and institutions nationwide. Our diverse suite of annuity products, ranging from capital market offerings to pension risk transfer solutions, empowers organizations of all sizes to navigate risk and secure their future financial obligations.

 

Role Overview:

New York Life is seeking a Senior Associate to join the Institutional Retirement Income Solutions team, supporting two strategic growth areas: Pension Risk Transfer (PRT) and Defined Contribution (DC) Retirement Income.

This role sits at the intersection of product strategy, market analysis, and business development within the evolving retirement solutions marketplace. The Senior Associate will drive strategic initiatives, competitive analysis, financial evaluation, and cross-functional execution efforts that support the growth of New York Life's institutional retirement business.


What You'll Do:

  • Drive Pension Risk Transfer (PRT) product management activities, including pricing coordination, transaction support, consultant and plan sponsor engagement, process improvement, and stakeholder management to facilitate successful execution of transactions
  • Lead market research, industry analysis, and competitive benchmarking to identify market trends, inform positioning, and uncover strategic growth opportunities across PRT and DC retirement income
  • Develop financial models, business analyses, and analytical frameworks to support strategic decision-making, business evaluation, and partnership development
  • Prepare and present materials for client presentations, partnership discussions, consultant meetings, and senior leadership reviews
  • Support the development and execution of advisor and consultant engagement strategies to increase awareness and adoption of New York Life's retirement income solutions
  • Monitor regulatory developments, competitive dynamics, and industry trends across retirement and institutional markets, translating insights into actionable recommendations
  • Collaborate cross-functionally with actuarial, legal, operations, finance, and distribution teams to advance business priorities
  • Contribute to strategic projects and initiatives supporting growth across Institutional Retirement Income Solutions

 

What You'll Bring:

Required Qualifications:

  • Bachelor's degree in Business, Finance, Economics, Mathematics, Actuarial Science, Analytics, or a related quantitative field
  • 5+ years of professional experience in financial services, insurance, asset management, retirement services, consulting, or related industries
  • Demonstrated experience in retirement, pension, annuity, institutional investing, or insurance-related products and markets
  • Strong analytical, quantitative, and problem-solving capabilities with the ability to synthesize complex information into actionable insights
  • Experience developing financial models, conducting quantitative analysis, and translating analytical work into strategic recommendations
  • Advanced proficiency in Microsoft Excel and PowerPoint, including financial modeling and executive-level presentation development
  • Strong written and verbal communication skills with the ability to present to senior stakeholders and external partners
  • Ability to manage multiple priorities and operate independently in a fast-paced, collaborative environment
  • Candidates must be eligible and willing to obtain Life/Accident/Health insurance licensing credentials as required

Preferred Qualifications:

  • Direct experience in Pension Risk Transfer, defined benefit de-risking, or annuity placement - on the carrier, consulting, or plan sponsor side
  • Exposure to Defined Contribution retirement income solutions, target date fund design, or institutional investment product development
  • Experience working with or alongside retirement consultants or institutional asset managers
  • Progress toward or completion of actuarial credentials, CFA, or MBA

Pay Transparency

Salary Range: $115,000-$140,000 

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 here to 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.

Visit our LinkedIn to see how our employees and agents are leading the industry and impacting communities.

Visit our Newsroom to learn more about how our company is constantly evolving to meet our clients' and employees' needs.

Job Requisition ID: 93406

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About NorCal Orange

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Industry

Colleges, universities, and professional schools

Company size

11 - 50 Employees

Headquarters location

Syracuse, NY, US

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