Senior Associate, Group Membership Compliance Unit

Location Designation: Hybrid - 3 days per week 

This position primarily involves a hybrid work schedule - working remotely: Monday & Friday / on site: Tuesday, Wednesday and Thursday.

Role Overview:

This Senior Associate position will report directly to the Head of Compliance in the Group Membership Association Department (GMAD) located in White Plains, NY and is a hybrid work schedule (remote Monday & Friday and on-site Tuesday, Wednesday, and Thursday).  This position will be responsible for supporting the operational and compliance oversight of Third-Party Administrators (TPAs) that administer Group Disability, Life, AD&D, and HIP insurance on behalf of New York Life, and the monitoring GMAD and TPA compliance with various regulatory and corporate requirements.

What You’ll Do:

• Participate in Third Party Administrator (TPA) on-site reviews at administrator offices, including onboarding new business partners, including planning, sample selection and testing, interviews, documentation, negotiation to resolve variances, and summary reports.　
• Investigate complaints from insureds to state departments of insurance and NYL executives; draft and release responses, including interpretation of group policy provisions, gathering documentation from TPAs, determining if complaint is justified and recommending remediation, as appropriate.　
• Analyze new regulations/legislation and recommend compliance requirements; draft and release compliance and/or procedural bulletins.　
• Update and distribute TPA Manual of Procedures and prepare/publish various managerial reports.　
• Monitor GMAD and TPA compliance with Federal and State regulatory requirements (Escheatment, TPA licensing, Errors & Omission and Fidelity Bond Insurance Coverage, Replacement Activity, Inadvertent Disclosures of Personally Identifiable Information (PII) and Record Retention)　
• Coordinate responses to State Market Conduct Exams, Corporate Audit, and various state data requests.　
• Handle and address daily administrative and regulatory issues and inquiries from within GMAD, or NYL and TPAs.

What You’ll Bring:

• Bachelor's Degree
• 5-10 years of auditing, or operational risk experience in Disability and Life insurance administration (application processing, underwriting, policy issuance, premium billing/collection, claims processing, inforce policy services)
• General knowledge and understanding of insurance principles, group life and disability insurance best practices, and regulatory requirements
• Flexible self-starter and quick learner with good judgment, analytical skills and creative problem solving, as well as confident decision-making with reasonable business risks.　
• Excellent interpersonal (oral/written) and relationship building skills, high degree of professionalism, strong organizational skills, detail oriented, ability to work independently and collaboratively with internal and external partners and can multitask in a complex and dynamic environment.
• Expertise in MS Office (Word, Excel, PowerPoint), Outlook and SharePoint.　
• Willing to travel

This position primarily involves a hybrid work schedule - working remotely: Monday & Friday / on site: Tuesday, Wednesday and Thursday.

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Pay Transparency

Salary Range:  $95,000-$140,000 

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: 91630