Life Product Compliance, Senior Associate

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Date: Feb 8, 2021

Location: New York, NY, US

Company: New York Life Insurance Co

 

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. 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 service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

 

This highly collaborative Senior Associate position within the Life Product Compliance team will be a Team Lead for our policy form efforts: performing regulatory research, leading drafting efforts for policy forms and related documents, coordinating with technology to implement forms, performing user acceptance testing of the forms, coordinating submission of the forms to departments of insurance (DOI) and responding to all correspondence received from the DOI’s related to the filings. This self-starter will lead policy form workshops with key stakeholders to review policy forms and related documents incorporating their input and feedback to ensure accuracy and obtain key stakeholders sign-off. This individual will also provide oversight to policy form support personnel, who assist with the policy form efforts. This individual must develop a strong partnership with the product development team, attend all product collaboration meetings related to the product effort, and be able to provide guidance about regulatory requirements.

 

New York Life offers a wide breadth of life insurance products and riders (such as Term, Whole Life, Universal Life, and Variable Universal Life).  The Team Lead will need to be adaptable to work on policy form efforts for any of the products and riders we offer.

 

Primary Responsibilities

Lead policy form efforts for our life insurance products in alignment with our Life Product initiatives.

This will include, but not be limited to:

• Draft policy forms and other documents related to life insurance in a timely and accurate manner,

• Lead policy form workshops to collaborate with key stakeholders including Product Managers, Actuarial Staff, Office of General Counsel (OGC), and Service Teams,

• Perform product design research and analysis of state and federal insurance laws to determine impact on product design,

• Coordinate the submission of all policy forms with applicable DOIs and respond to any correspondence or objections presented in collaboration with key stakeholders for the project,

• Perform and sign-off on user acceptance testing prior to and following product implementation to ensure correct policy forms and associated documents are being provided to customers,

• Provide indirect oversight to policy form support personnel who assist with policy form research, drafting, filing, and testing

• Interpret internal or external business issues related to policy forms, identify trends, and recommend best practices,

• Build and maintain strong working relationships with DOIs and key stakeholders within the Company.

 

Qualifications

•Bachelor’s Degree

•4+ years of experience in drafting insurance policies and performing compliance work related to policy forms and regulatory filings

•Strong leadership, time management and organizational skills with an ability to think critically and strategically

•Strong legal research and writing skills. Knowledge of state and federal regulations pertaining to Life Insurance products, as well as IIPRC Standards preferable

•Excellent interpersonal and communication skills

•Ability to analyze and recommend resolutions to complex compliance issues.

•Ability to follow through on and manage multiple projects

•Knowledge of SERFF and other State Filing systems

•Knowledge of NILS, Westlaw, Content Management systems and proficiency in Microsoft Office

 

#LI-JP1

EOE M/F/D/V

 

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Job Requisition ID: 83240 


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