Senior Associate, Compliance - Market Surveillance Analyst

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Date: Nov 30, 2022

Location: White Plains, NY, US

Company: New York Life Insurance Co

Location Designation: Hybrid 

 

 

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.

 

 

Role Overview:

The Market Surveillance Senior Associate is responsible for investigating and evaluating agent sales practices to detect potential violations of both state and federal regulations and internal policies. He/she may be tasked with evaluating Agent/Registered Representative Exception Reports, performing more comprehensive reviews of an Agent’s business and sales practices, or evaluating an Agent for a Program of Enhanced Supervision.  He/she will have the opportunity to work closely with different teams around the Company.  

The ideal candidate is curious, understands Securities and Life Insurance products, and can distill findings from various sources into compelling written narratives that motivate effective supervisory outcomes.

 

Overview of Market Surveillance Unit:

The Market Surveillance Unit (“MSU”) is a group of experienced Corporate Compliance professionals who monitor Agent sales practices for compliance with regulatory requirements and Company policies and procedures.   We have a friendly and accessible culture.  We provide a unique product to our customers and stakeholders, all in an effort to maintain New York Life’s reputation of Integrity. 

MSU conducts investigations and evaluations of agent sales practices, manages exception reports, and administers the Company’s Enhanced Supervision process. Annually, MSU also conducts reviews of the Company’s top selling agents.

 

When potential violations are detected, the team is responsible for escalating the activity and working collaboratively with business partners to determine appropriate resolutions.

 

Role Responsibilities:

  • Investigate and analyze agent sales practices to detect potential violations of state and federal laws, SEC or FINRA regulations, and/or Company procedures.
  • Analyze, connect and explore various data points, using company systems and reports, internet searches, public records and email searches to identify patterns and trends that present an overall picture of the agent’s risk profile.
  • Prepare clear and concise reports of review findings for Management that identify regulatory issues and sales practice concerns along with recommended solutions.
  • Identify and raise issues for discussion or further investigation.
  • Interface with Field Management and Home Office supervisory management to coordinate, escalate and resolve issues identified during the investigations.
  • Assist with the development of surveillance tools, enhanced monitoring processes, and risk management strategies.
  • Engage in special projects, initiatives and other activities as needed.

 

Requirements:

  • Bachelor’s degree
  • 5+ years prior experience in the insurance/securities industry, preferably in surveillance or operations
  • Series 7 license, or ability to obtain them within 12 months of hire
  • Comprehensive knowledge of life insurance products and securities products (life insurance, annuities, mutual funds, equities, and managed accounts)
  • Strong analytical and investigative skills
  • Clear, concise, and analytical written and oral communication skills, with the ability to tailor communication based on the intended audience.  
  • Superior judgment in assessing potential compliance risks
  • Ability to collaborate with others and establish working relationships, think and act strategically, and influence key leaders
  • Excellent organizational skills, with the ability to manage multiple work items, work independently and follow through to completion
  • Strong work ethic and attention to detail
  • Proficient with Microsoft Office including expertise in Excel

 

Desired Qualifications:

  • Strong overall knowledge of federal securities laws and SEC and FINRA regulations
  • Experience with Tableau and visually telling stories
  • Familiarity with designing basic SQL queries

 

 

Salary range: $90,000-$135,000 

Overtime eligible: Exempt 

Discretionary bonus eligible: Yes 

Sales bonus eligible: No 

 

Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.

 

 

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. 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: 87760

 

 

 


Nearest Major Market: White Plains
Nearest Secondary Market: New York City

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