Life Products Compliance Associate

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Date: May 12, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

 

This Associate position on the Life Compliance team will work directly with the Policy Form Team Leads within Insurance Solutions to support all product development initiatives for Life Products.  This individual will assist with regulatory research, act as a scribe in policy form workshops updating, tracking and recording changes to the policy forms made by stakeholder participants in the workshops. The associate will also prepare policy form variations when required for a state, prepare related filing materials for electronic filing of the forms with the IIPRC and state insurance department for regulatory approvals. Additionally, this individual will perform user acceptance testing of policy forms developed in our systems.  This position will interact with stakeholders throughout the company and provide ad hoc support as needed on other projects related to the compliance of our products.

 

Key Responsibilities:

  • Provide support to Team Leads with the drafting of policy forms and other documents related to life insurance
  • Update and track policy form changes in real-time at policy form workshops with stakeholders
  • Assist in the organization and execution of policy form workshops
  • Assist in performing regulatory research of state and federal insurance laws related to life product design, product administration and filings
  • Assist with preparation of the product filings for submission to the IIPRC (Compact) and state insurance departments
  • File policy form packages via SERFF and tracks related correspondence in the SERFF system
  • Assist in preparing responses to questions and comments received on product filings from regulatory bodies
  • Builds and maintains strong working relationship with DOI and Compact administrative staff
  • Participates in user acceptance testing efforts prior to and following product implementation to ensure compliance of forms tested
  • Assists with other compliance projects within the Division
  • Receives guidance and project oversight from Policy Form Leads and direct manager

 

 

Functional Knowledge: Supports team lead in researching best practices and procedures for gaining approval of forms and maintaining compliance.  Includes looking at filing experiences and objection responses from other business units at NYL.

 

Problem Solving: This person will research information to resolve straightforward issues.  For more complex situations, they will work with oversight from team leads and their manager.

 

Decision Making/ Nature of Impact: While supporting policy form drafting, this individual will prepare recommendations for consideration with how to address certain situations.

 

Communication Requirements: This person will be interacting with key stakeholders from throughout NYL.  It will be important that this person clearly communicate updates and changes, as well as provide explanations.  This person will also communicate results of their regulatory research.

 

Basic Qualifications:

  • Bachelor's degree
  • 2+ years experience in a compliance or paralegal role
  • Strong written and oral communication skills and attention to detail
  • Strong communication skills

 

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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. 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: 86047

 

 

 


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