Senior Associate, Group Insurance

APPLY NOW »

Date: Sep 4, 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.

 

 

 

The Compliance Senior Associate is responsible for collaborating with the compliance team to implement an effective compliance program for the Group Insurance Segment. 

Working closely with compliance management, business leaders and subject matter experts, as well as Legal, Government Affairs, Internal Audit and other stakeholders, the Senior Associate will assist to ensure that the business  is complying with all federal, state,  local rules and regulations, and internal compliance requirements.

 

Responsibilities

  • Support the Group Benefits Solutions (GBS) compliance program to ensure NYL’s compliance standards are met
  • Support the compliance oversight programs for our group insurance businesses to ensure NYL’s compliance standards are met
  • Collaborate with other departments to direct compliance issues to appropriate channels for investigation and resolution
  • Host a monthly meeting with key personnel from the business, legal, compliance, and risk to discuss compliance issues, requirements, tasks, projects, initiatives, etc. that may impact the business
  • Track laws and regulations and identify regulatory requirements applicable to business segment operations
  • Provide timely and consistent compliance guidance to the business
  • Collaborate with the business unit to formulate and execute compliance reviews of the business; including identifying scope, reviewing procedures & documentation, identifying issues, and communicating findings
  • Work with business units to develop corrective action plans to address known issues.
  • Independently test the effectiveness of those corrective action plans and other key compliance processes
  • Engage with the business to assist with gathering information for regulatory reporting.
  • Review and validate data received from the business and Third-Party Administrators (TPA) in response to market conduct exams and regulatory inquiries
  • Prepare reports for Regulators, Senior Management and other NYL departments
  • Ensure key trends, issues and watch items are presented clearly and accurately.
  • Handle special projects as needed

 

Qualifications and Job Requirements

  • Bachelor’s Degree
  • At least 8-10 years of experience in a compliance role within an insurance company
  • Experience in group disability insurance
  • Knowledge of general group insurance compliance principles
  • Knowledge of federal and state regulations governing group benefits
  • Knowledge of federal and state regulations governing disability insurance
  • Excellent written and oral communication skills with the ability to present information in differing degrees of detail and form depending on the audience
  • Excellent organization skills, ability to prioritize multiple tasks and follow through to meet deadlines
  • Analytical skills to identify possible solutions using experience, judgment and precedents. Receives a moderate level of guidance and direction
  • Has good judgment, be a self-starter and proactive
  • Works independently as well as within a team environment

 

SF:LI-ID1

 

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: 83974

 

 

 


Job Segment: Social Media, Internal Audit, Insurance, Marketing, Finance