Policy Accounting Specialist


Date: Jan 7, 2019

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.


Alternate locations: Cleveland, OH (Ohio); Minneapolis, MN (Minnesota); New York, NY (New York)


The Senior Specialist role collaborates with all business units within Service Org and across the company on identifying innovative solutions for supporting our Life and Annuity products. This involves working with various units (Compliance, Financial Controls and Treasury) to ensure our accounts are handled according to Corporate Audit standards and compliant within regulations.


Working under the direction of the Policy Accounting Manager, the Senior Specialist will work to achieve the goals of researching and resolving discrepancies, including some high complexity transactions, with minimal supervision. They are a technical expert for all accounting related variances and will be expected to review procedures to make suggestions regarding updates and changes as required. The Senior Specialist may assist and provide direction to other junior Specialist as well; and may lead one-on-one training sessions to develop team mates. 


Primary Responsibilities:

  • Validate policy transactions and values are accurate across all systems and interfaces
  • Ability to explain complex issues with well thought solutions
  • Review and monitor reconciliation items daily, weekly and monthly to assure accounts are within acceptable status
  • Process manual journal entries in SAP General Ledger system timely and accurately
  • Create, verify and complete work objects in AWF for accounting adjustments processed by the Service partners
  • Identify and track FINRA policy details to assure the funds in the bank account are within compliance to FINRA regulation
  • Process Treasury adjustments for FINRA activities that verified to be moved between bank accounts
  • Assist other units with bank reconciliation and asset reallocation as needed
  • Support day-to-day operations for our co-source partners and may represent the team at special project meetings   
  • Trouble-shoot on unusual accounting out of balances and resolving escalations within 24 hours


Additional Responsibilities:

  • Ability to host meetings or present in front of small groups for continuous learning across teams
  • May suggest improvements and solutions to existing service related processes to improve the efficiency of the work.
  • Handle special assignments as assigned by the Manager including Agents’ Liens and Garnishments and Disaster Recovery efforts.
  • Work with Service partners on detecting, tracking and potentially avoid over/underpayment situations effectively and timely


Desired Qualifications:

  • Bachelor’s degree is required (Preferred Finance or Economics)
  • 3+ years of relevant work experience required
  • Preferred experience with SAP Leger Balance, rPay.net, CABS, GDS and Cyberlife (Variable and Fixed)
  • Excellent written and oral communication skills
  • Proficiency with Microsoft Office Suite required
  • Strong oral and written communications skills
  • Ability to multi-task and handle changing priorities
  • Ability to work collaboratively and as part of a team
  • Strong time management, organizational and prioritization skills


Please note: This role requires FINRA licensed and/or FINRA Associated Person pre-hire fingerprinting.




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