Senior Suitability Associate

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Date: Dec 11, 2018

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.

 

The Service Resiliency Suitability Team is responsible for ensuring that both new sales and transactions are appropriate for our clients.  This determination is made via an analysis of customer purchases in the context of their investor profile information, investment objectives, and corporate suitability guidelines.  The Team also provides support to our agents in the Field by addressing inquiries pertaining to cases which are under suitability review, as well as general questions regarding our suitability program and parameters.

 

Working under the direction of the Manager, and utilizing a wide breadth of product and system knowledge, the Senior Suitability Associate reviews proposed transactions and provides determination as to whether cases may be approved or declined for suitability. They provide feedback to representatives on the team based on their suitability approval/declination recommendations, and advise team management of any performance concerns and/or training opportunities. In addition, they will monitor customer transactions and identify any patterns requiring review by Corporate Compliance, and assist in the resolution of cases that have been escalated by our agents in the Field for heightened review by a Principal. The Senior Suitability Associate also helps shape team objectives by recommending - and helping to lead - projects designed to improve suitability workflow, compliance and/or communications with the Field including the performanace of quality control reviews, call monitoring and maintaining the team procedure documents.

 

Responsibilities

  • Using administrative systems to review proposed annuity, life insurance, and mutual fund transactions and provide Principal determination as to whether cases may be approved or declined for suitability, in accordance with our Corporate suitability standards
  • Provide feedback to team representatives based on their suitability recommendations and correspondence composition.  Provide coaching on potential improvement opportunities and recommend training opportunities to team management
  • Conduct quality control reviews and call monitoring to strenghten the team's internal control processes and ensure compliance with regulatory compliance
  • Help lead projects designed to improve suitability workflow, compliance and/or communications with the Field. Relevant projects could include designing testing requirements to satisfy new rules and regulations, drafting Field News publications to remind our agents of important aspects of our suitability program, and evaluating our processes in order to identify opportunities to improve our controls.
  • Create and maintain Life & Annuity and NYLSEC procedures.
  • Train junior members of the team on new suitability processes and rule changes.

 

Requirements

  • Bachelors degree preferred
  • Minumum of 3+ years experience in securities industry with a background in variable annuities and mutual funds
  • FINRA Series 7 and 24 required; Series 53 and/or 4 preferred

 

EOE M/F/D/V

 

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