Compliance Market Surveillance, Senior Associate

  • Competitive
  • Sleepy Hollow, NY, USA
  • Permanent, Full time
  • New York Life Insurance Company
  • 21 Aug 17

Compliance Market Surveillance, Senior Associate

New York Life Insurance Company ("New York Life" or "the company") is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterrey New York Life in Mexico.

New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2016 operating earnings of $1.954 billion. Total assets under management at year end 2016, with affiliates, totaled $538 billion. As of year-end 2016, New York Life's surplus was $23.336 billion**. New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody's Aaa; Standard & Poor's AA+. (Source: Individual Third Party Ratings Report as of 8/17/16).

Financial strength, integrity and humanity-the values upon which New York Life was founded-have guided the company's decisions and actions for over 170 years.

Role Overview:
The Market Surveillance Senior Associate investigates and evaluates agent sales practices to identify patterns or red flags that pose risk to the Company. The individual in this position will analyze sales and compliance data, and coordinate resolution to findings with field and home office supervisory personnel. The individual will also play an integral role in building a new reporting structure that transitions existing data currently used in static reports into new reporting dashboards and predictive analytics models.

Overview of Market Surveillance Unit:
The Market Surveillance Unit (MSU) monitors agent sales practices for compliance with regulatory requirements and Company policies and procedures. The MSU conducts investigations and evaluations of agent sales practices, and administers the Company's Enhanced Supervision process.

Role Responsibilities:

  • Investigate and analyze agent sales practices to detect potential violations of state and federal laws, FINRA rules 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 that present an overal picture of the agent's risk profile.
  • Prepare clear and concise reports of findings for Management that include recommendations for remedial action.
  • Interface with General Office Management and Home Office Supervisory Management to coordinate and resolve issues identified during the investigations.
  • Actively participate in planning, development and testing of new reporting techniques that combine existing data used in static reports into reporting dashbaords and predictive analytic models.

Bachelor's degree
5+ years experience in the insurance/securities industry, preferably in compliance or operations.
Comprehensive knowledge of registered and non-registered products.
Superior judgment in assessing potential compliance matters.
Strong curiosity, analytical and investigative skills.
Expert knowledge in Excel and preferably some experience working with data analytic tools such as Spotfire.
Decisive and mature with the ability to collaborate and create consensus.
Ability to manage multiple work items, work independently and follow through to completion.
Series 6 or 7 or other insurance designation required.



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* Based on revenue as reported by "Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 17, 2016. See for methodology.
** Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company's long-term financial strength and stability and is presented on a consolidated basis of the company.

1. Operating earnings is the key measure use by management to track Company's profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US (GAAP), with certain adjustments Company believes to be appropriate as a measurement approach (non GAAP), primarily the removal of gains or losses on investments and related adjustments.

2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.