NEW YORK, N.Y., JUly 17, 2008 – New York Life Insurance Company announced today that Mark E. Arning has been named general auditor. He will report to President and CEO Ted Mathas and have a direct reporting relationship with the Audit Committee of the Board of Directors. He succeeds Thomas Warga who is retiring after 36 years of service.
Ted Mathas, president and chief executive officer, New York Life Insurance Company said, “Tom has had a distinguished career at New York Life, culminating in his service as general auditor for the past 19 years, and we wish him well in his retirement. We are pleased to be turning to an experienced member of our management team, Mark Arning, who has worked closely with Tom for many years. We are confident that Mark will carry on the tradition of strong internal auditing at New York Life.”
As general auditor, Mr. Arning oversees the company’s Corporate Audit Department, which is responsible for auditing the operations of the company and its subsidiaries. The department performs independent appraisals of the adequacy and effectiveness of the system of internal controls, which safeguard assets and ensure the accuracy of financial reporting and compliance with laws and regulations. Mr. Arning joined New York Life in 1978 and held positions of increasing responsibility leading to his election as senior vice president and deputy general auditor in 2006.
Mr. Arning earned his B.S. degree in accounting from C.W. Post Center at Long Island University and an M.B.A. from St. John’s University. He is a Certified Internal Auditor (CIA) and a Certified Information Systems Auditor (CISA). Mr. Arning also serves on several committees of the Institute of Internal Auditors and is past president of the New York Metropolitan Chapter of the Information Systems Audit and Control Association..
He resides in Rockville Centre, New York, with his wife, Kathy, and their three sons.
Mr. Warga joined New York Life in 1972 as a staff auditor. After several promotions, he was elected to vice president and general auditor in 1989 and senior vice president and general auditor in 1994. In 2001, Mr. Warga was named chief privacy officer.
Mr. Warga is a Certified Internal Auditor (CIA), a Chartered Life Underwriter (CLU), and a Chartered Financial Consultant (ChFC). He has served as a member of the board of the Institute of Internal Auditors (IIA) since 1998. The IIA has over 150,000 members in more than 100 countries. He joined the Executive Committee of the IIA in 2003 and served as its Chairman in 2005. He also served as President of the New York Chapter of the IIA in 1995. He received the Lifetime Achievement Award from the New York Chapter in 2007.
He holds a B.S. in accounting from Fairfield University and a M.B.A. from Long Island University.
New York Life Insurance Company, a Fortune 100 company, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. Founded in 1845 and headquartered in New York City, New York Life and its affiliates offer life insurance, retirement income, investments and long-term care insurance. New York Life Investment Management, LLC provides institutional asset management, retirement plan and trust services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.Please visit New York Life’s Web site at www.newyorklife.com for more information.
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|New York Life Names Mark E. Arning As General Auditor|