Associate - Settlement Operations


Date: Dec 31, 2021

Location: New York, NY, US

Company: New York Life Insurance Co



When you join New York Life Investments, a wholly owned subsidiary of New York Life Insurance Company, you are joining a global investment company with a long history and passion for career development, innovation, collaboration, and diversity, equity and inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.


As a top 25 global asset management firm with more than $600 billion in assets under management, we have an important mission: to help build a better financial future for our clients, our employees, and our communities. We invite you to bring your talents to New York Life Investments, so we can continue to help people achieve their financial aspirations. To learn more, please visit LinkedIn, our Newsroom and the Careers page of



Overview of Role:

Associate will carry out daily assignments by following the written procedures and escalating issues timely to management.  The role requires frequent interaction with Traders, Counterparties, and Custodians and internal teams within Investment Services.   This is an entry level position.


Description of Responsibilities:

  • Settlement coordination of Public and Private transactions.  
  • Confirm trade details, provide trade allocations, and work with Trading Desk and Counterparties to rectify any trade discrepancies.  
  • Reconcile all trade activity pre/post settlement date (e.g., maintain counterparty contact lists, bank system access, maintain internal and external settlement instructions, SPO charge calculations, track TMPG claims, and process TBA pair offs and allocations)
  • Create outgoing wire requests for Private and OCIO teams. 
  • Liaise with the Traders, Treasury, and Custodian Banks on all settlement matters.
  • Perform assignments in a timely and accurate manner.
  • Analyze and resolve exceptions, reconciliation differences, and issues.
  • Learn and maintain a working knowledge of all functions performed by the group to provide back up as necessary.
  • Actively participate in group and departmental projects.
  • Develop and update detailed functional procedures.
  • Develop and present ideas for procedural changes to enhance efficiency, reduce costs, and/or improve controls.
  • Maintain positive and collaborative working relationships with manager, co-workers and colleagues, internal clients, vendors, brokers, and custodians.
  • Assist with testing plans and document results.



  • BA/BS in Business Administration with Finance concentration preferred
  • 1+ years of Settlement Operation’s experience in an Insurance Company or Investment Management firm
  • Excellent oral and written communication skills
  • Strong interpersonal skills and a team player
  • High competence level with Microsoft Office tools
  • Proficient at systems specification, testing, and implementation
  • Experience with BlackRock’s Aladdin and Bloomberg is a plus  




Job Requisition ID: 84724








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