Life Product Compliance Senior Associate

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Date: Apr 7, 2021

Location: New York, NY, US

Company: New York Life Insurance Co

 

When you join New York Life, you’re joining a company that values development, career growth, collaboration, innovation, and diversity & 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.

 

 

 

This highly collaborative Senior Associate position within the Life Product Compliance team will provide support for our policy form efforts: perform regulatory research, assist the Team Lead with drafting efforts for policy forms and related documents, coordinate with technology to implement forms, perform user acceptance testing of the forms, prepare and submit policy forms to departments of insurance (DOI) and respond to correspondence received from the DOI’s related to the filings. This role will also assist the Team Lead in 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. The ideal candidate will be a self-starter with the ability to work in a fast-paced team environment, collaborating with others as well as working independently. The individual must develop a strong partnership with the product development team, actively participate in all product collaboration meetings related to the product effort and provide guidance on 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 Senior Associate will need to be adaptable to work on policy form efforts for any of the products and riders offered.

 

Primary responsibilities include, but are not limited to:

• Assist with policy form drafting efforts for our life insurance products in alignment with our Life Product initiatives, ensuring completion in a timely and accurate manner.

• Provide support to team lead at 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 find impact on product design.

• Submit all policy forms to applicable DOIs and respond to any correspondence or objections presented in collaboration with key stakeholders for the project.

• Complete 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.

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

 

Qualifications

• Bachelor’s Degree

• 3+ years of related work experience; with 2+ years of experience drafting insurance policies and performing compliance work related to policy forms and regulatory filings

• Excellent 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, including both written and verbal

• Ability to assess and recommend resolutions to 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

 

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 our Foundation. 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.

Job Requisition ID: 83464

 

 

 


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