Location Designation: Hybrid - 3 days per week 

This position is hybrid, Tuesday - Thursday in the NY office, Monday and Friday work from home.

The Corporate Compliance Department (CCD) of New York Life Insurance Company is seeking an experienced professional to manage the Group Benefits Solutions (GBS) Compliance team. This role will also manage the compliance oversight programs for our Group Membership Association Division (GMAD), Business Solutions, and our Canadian Branch.

In this role, you will collaborate with the business to maintain an effective compliance program. You will work closely with Corporate Compliance management, business leaders, Legal, Government Affairs, Internal Audit, and other stakeholders to identify and mitigate compliance risks. You will support the team and enhance the compliance program by partnering with the business teams and encouraging a solutions-oriented approach. The team will help the business understand its regulatory obligations to ensure compliance with all federal, state, and local rules and regulations, as well as internal requirements.

GBS Compliance Responsibilities

• Manage a team of five compliance professionals responsible for independent testing, OFAC/sanctions screening oversight, regulatory tracking, TPA compliance oversight, and general compliance issues.
• Identify potential regulatory risks and partner with business areas to mitigate those risks.
• Ensure compliance standards are met by defining milestones, allocating resources, and ensuring on-time delivery.
• Host regular meetings with key personnel from business, legal, compliance, and risk departments to discuss issues, requirements, tasks, projects, and initiatives.
• Prepare and present compliance reports to Senior Management, including board reports.
• Collaborate with other departments to direct compliance issues to appropriate channels for investigation and resolution.
• Track laws and regulations, identifying requirements applicable to the business to ensure compliance.
• Conduct compliance reviews with the business, including procedure and documentation reviews, issue identification, and communication of findings.
• Provide compliance support for GBS business initiatives and inquiries.
• Represent Corporate Compliance in business meetings, including those related to complaint handling and long-term disability claim matters.
• Develop corrective action plans to address issues, including status reports to related committees.
• Manage the Third-Party Administrator Oversight program, including annual TPA Operational Reviews and compliance reviews.
• Independently test the effectiveness of key compliance processes.
• Assist with information gathering for regulatory reporting and market conduct examinations.
• Handle special projects as needed.

GMAD, Business Solutions, and Canadian Branch Responsibilities

• Host regular meetings with key personnel from business, legal, compliance, and risk departments to discuss issues, trends, requirements, tasks, projects, and initiatives.
• Identify potential regulatory risks and partner with business areas to mitigate those risks.
• Collaborate with other departments to direct compliance issues to appropriate channels for investigation and resolution.
• Provide compliance support for business initiatives and inquiries.
• Support the business in developing remediation plans to address compliance deficiencies.
• Ensure business personnel are aware of regulatory updates, laws, regulations, and bulletins, and assist with applicability reviews, monitoring timeliness and implementation.
• Gather information on compliance issues and direct it to appropriate channels for investigation and resolution. Communicate current and emerging compliance risks with the business, risk, and legal departments.
• Prepare reports for regulators, senior management, and other NYL departments.
• Handle special projects as needed.
• For the Canadian branch, attend quarterly committee meetings to discuss compliance with regulatory requirements. Review periodic reports from Steering Committee members on compliance status, identified issues, necessary remedial actions, and potential procedure changes to ensure future compliance and mitigate future risk.

Qualifications and Job Requirements

• Bachelor’s Degree
• At least 10 years of experience in a compliance role within the insurance or financial services industry
• Experience with employer group insurance and a strong understanding of disability claim processes and related risks are essential
• Team management experience
• Experience developing and managing insurance compliance programs
• Ability to consult with and influence senior leadership
• Ability to understand legal material, conduct independent research, and perform analysis
• Excellent written and oral communication skills, with the ability to present information in varying degrees of detail depending on the audience
• Excellent attention to detail, time management, and multitasking/prioritization skills
• Analytical skills to identify possible solutions using experience, judgment, and precedent
• Ability to work independently and within a team environment
• Ability to inspire, motivate, and energize others through a commitment to our goals and objectives
• Act with agility and be prepared to engage quickly
• Drive innovation and explore new ways to create value

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Pay Transparency

Salary Range:  $137,500-$237,500 

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.

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 Diversity Promise

We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.

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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Job Requisition ID: 91272