Bud Schiff

Managing Director
55+ years of insurance industry leadership experience
Specializes in providing strategic advisory services for corporate insurance programs
Experience as an independent strategic risk advisor across industries
New York
@alvarezmarsal
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Albert J. “Bud” Schiff is a Managing Director with Alvarez & Marsal Corporate Performance Improvement in New York. He serves as Co-Head of A&M’s Insurance Optimization Services (IOS). 

Mr. Schiff specializes in providing strategic advisory services for corporate insurance programs. His primary areas of concentration are corporate-sponsored employee benefits (health and welfare, retirement) and risk management (property, casualty, liability, cyber, workers’ compensation, etc.) insurance programs.

With more than 55 years of insurance industry leadership experience, Mr. Schiff has served A&M clients in all industries as an independent strategic risk advisor, collaborating with benefits managers, risk managers, brokers, third-party administration vendors, and insurance carriers.

Prior to joining A&M, Mr. Schiff served as CEO of NYLEX Benefits, the executive benefits consulting arm of the New York Life Insurance Company. Before that, he served as Senior Executive Vice President and a member of the board of trustees of the Mutual Life Insurance Company of New York (MONY).

In addition, Mr. Schiff has served in numerous insurance industry leadership roles, including President of the Association for Advanced Life Underwriting (AALU), Chairman (“Top of the Table”) of the international Million Dollar Round Table (MDRT), Trustee of The American College of Financial Services, and Chairman of The American College Foundation’s board of directors.

Mr. Schiff is a recipient of The American College’s “Distinguished Alumni Award” and “Huebner Gold Medal”. He has testified at the US Congress as an expert witness numerous times before the Senate Finance Committee, the House Ways and Means Committee, and the US Treasury and Internal Revenue Service (IRS) on behalf of the insurance industry.

Mr. Schiff is a retired Captain (Supply Corps, US Navy) and a member of the US Navy Supply Corps Foundation board of directors and has been designated as a Distinguished Alumnus of the US Navy Supply Corps (the Navy’s business managers). He is also a member of the Veterans Moving Forward board.

Mr. Schiff earned a bachelor’s degree in business administration (BSBA) from the University of North Carolina at Chapel Hill. He is also a Member of the Society of Pension Actuaries (MSPA), a Retirement Income Certified Professional (RICP), a Chartered Life Underwriter (CLU), a Chartered Advisor in Philanthropy (CAP), and an Accredited Estate Planner (AEP).

Insights By This Professional

Changing economic models in law firm partner retirement packages have brought significant change to the profession. As law firms shift financial obligations to partners, post-retirement benefits once seen as a way to attract and retain professionals to the industry grow more precarious. In this edition of Action Matters, Bud Schiff, Managing Director and CEO of A&M’s Executive Compensation and Benefits practice, discusses the growing financial planning concerns of both firms and retirees.
A recent decision by the Delaware Court of Chancery should cause many employers to at least consider amending incentive plans that cover their directors and to review their peer groups.
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