Service Analyst

Location Designation: Hybrid - 3 days per week 

Within Institutional Life at New York Life, you'll join a team dedicated to providing tailored life insurance solutions for businesses and organizations of all sizes. From corporate-owned life insurance (COLI) strategies to bank-owned life insurance (BOLI) programs, your work contributes to the financial well-being of countless institutions and their stakeholders. By designing customized life insurance solutions, you will empower institutions to invest in their long-term goals with confidence, fostering stability and growth for generations to come.

Build a purpose-driven career:

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.

Our employees take pride in being part of a company that is committed to doing the right thing for customers and improving local communities through our culture of employee giving and volunteerism.

When you join our team, you’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. Most of our employees enjoy a blend of both remote and in-office work flexibility.

We invite you to bring your talents to New York Life! In our Leawood, Kansas office, we are seeking a highly talented and driven Service Analyst to join our dynamic, high-performing team focused on providing top level service to our institutional clients with an industry leading business unit, Institutional Life (IL). IL offers sophisticated life insurance products in the Bank Owned Life Insurance (BOLI), Corporate Owned Life Insurance (COLI) and Corporate Sponsored markets.

Role Overview: 

This role is on the Relationship Management team which supports our institutional clients and producers. As a Service Analyst you will be responsible for managing new policy review and issue, processing financial and non-financial transactions, responding to complex client inquiries, and participating in key initiatives.

What You’ll Do: 

This role requires a great deal of attention to detail and interpersonal skills; in this role you will be responsible for responding to complex requests from servicers and policy owners. The process will entail reviewing adhoc inquiries for information which do not have a pre-built report and providing responses that are organized and easy to understand. On the Relationship Management team success means having an intuitive approach to gathering and organizing data, being self-motivated and having a keen eye for detail. This position will report to the Corporate Vice President of the Relationship Management team. Areas of responsibility include New Business, complex processing support, and Exempt Fund support.  This is an excellent opportunity for a highly competent, driven, “team-first” professional to join an organization that values teamwork, service to community, and a client-first approach to business.

• Review new business paperwork for good order based on product guidelines
• Preparing new business packages for delivery to servicers
• Process new business cases utilizing multiple sources of data and interacting with various systems to complete the process
• Provide service to brokers and servicing offices regarding new business submissions and other miscellaneous questions
• Processing financial and non-financial policy transactions
• Researching and responding to complex questions
• Running reports on a scheduled and adhoc basis for premium capacity, cash values, and other reports as requested
• Quality/peer review of data inputs and sign off for policy related disbursements
• Assist in maintaining complex processing procedures and update as necessary
• Perform analysis involving sophisticated life insurance products, which may include reviewing policy administration system, investment reporting and policy language
• Apply mathematical and financial acumen to complex business case scenarios
• Interact with Accounting team to research problem accounting and assist with resolution
• Project management and strong prioritization skills
• Support business improvement initiatives 

What You’ll Bring:

• Strong interpersonal skills
• Strong critical thinking skills and attention to detail
• Strong computer skills; proficient knowledge of Microsoft Word, Excel, and Access
• Strong project management skills
• Strong written and oral communication skills
• Ability to “think outside the box” and implement creative solutions
• Ability to prioritize and multi-task without supervision  
• Experience within the COLI and BOLI industry preferred
• Actuarial experience a plus
• Advanced understanding of life insurance and 7702 a plus
• FINRA Series 6 designation preferred or must be obtained within 12 months of hire  

Education:

• Bachelor’s degree with 5+ years equivalent related experience
• Professional designation or working toward a designation such as FLMI; obtain Loma 1 and 2 within 12 months of hire

#LI-KH1
#LI-HYBRID 
 

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Pay Transparency

Salary Range:  $47,500-$72,500 

Overtime eligible: Exempt 

Discretionary bonus eligible: Yes 

Sales bonus eligible: No 

Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Our Benefits

We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.

Our Diversity Promise

We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.

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. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

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Job Requisition ID: 91073