Senior Associate, Underwriting Quality Control

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Date: Jan 7, 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.

 

Position Summary

Underwriting Quality Control (UW QC) was established in May 2014. Its goals are to gain assurance that Underwriting utilizes best practices, adheres to company guidelines, follows regulations, and that policies are issued with accurate ratings at the best offer possible.  Additionally, UW QC evaluates consistency across all underwriting locations and results are utilized to evaluate Underwriters performance, assess training needs, update the Underwriting Manual, and suggest system enhancements.

 

QC Underwriters bring experience from the various underwriting zones. QC Underwriters on the team will periodically need to complete a short-term rotation to a production underwriting zone to refresh their skills and maintain current on zone procedures.

 

Responsibilities

  • Perform real-time and post issue quality reviews of underwritten policies. The Senior Associate will leverage their Underwriting expertise and use critical thinking and judgment to ensure that QC assessments are fair and balanced.
  • Understand NYL's Underwriting methodology and stay current by attending training, reviewing bulletins, release enhancements and best practices communications.
  • Utilize the QC checklist as a guide to ensure all aspects of a policy are assessed. These are broad guidelines and each policy is reviewed in accordance with the Underwriting Manual.
  • Identify trends and look for ways to improve underwriting efficiencies (such as training needs, revisions to procedures, updates needed to Underwriting rules, system enhancements, etc.).
  • Document reviews and assessments in a central documentation repository (currently Excel spreadsheet and will be in a system in future state).
  • Identify policies that need to be referred for Underwriting management review, explain the rationale for referring, make a recommendation, and provide relevant details to build consensus and support.
  • Collaborate with Service Leaders and Underwriting Managers for corrective actions needed on policies.
  • Meet production standards as it pertains to the number of QC daily policies reviewed.
  • Act as a resource to other QC Underwriters in assessing work and verifying if a finding should be reported.
  • Assist with special projects and analyses as needed. Support the Underwriting organization with organizational initiatives, focused reviews, or business needs.

 

Qualifications

  • Bachelor’s degree
  • 5+ years of life insurance underwriting experience required
  • Proficient with the NYL Underwriting Manual and its assessment methodology preferred
  • Working knowledge of Microsoft Excel and Word

 

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EOE M/F/D/V

 

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Job Requisition ID: 83006 


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