Senior Associate, Compliance - Third Party Distribution

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • New York Life Insurance Company
  • 15 Oct 18

Senior Associate, Compliance - Third Party Distribution

New York Life Insurance Company is the largest mutual life insurance company in the United States. Founded in 1845 and headquartered in New York City, New York Life reported 2017 operating earnings of $2.06 billion. Total assets under management at year end 2017, with affiliates, totaled $586 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 independent rating agency commentary as of 8/1/17).

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.

Responsibilities :

  • Assist in administering NYL's Third Party Distribution Compliance program including:

-Analyzing data to identify compliance concerns with replacement activity, free-looked contracts and customer complaints.

-Participating in periodic compliance meetings with the various business units and work with these units to resolve any issues identified throughout the year.

-Drafting reports of findings for senior management.

  • Assist with the annual compliance review of the Suitability in Annuity Transaction Model Regulation.

  • Assist with annual SEC 38a-1 Compliance Program testing including:

- Review of Policies and procedures to ensure compliance with Corporate and Regulatory expectations.

- Test financial and non-financial transactions for compliance with Corporate procedures.

- Participate in monthly compliance meetings.

- Assist with the daily review of Market Timing reports and 22c-2 information requests.

  • Assist with divisional projects as necessary.

Requirements :

  • Bachelor's Degree
  • Minimum of 5 years experience
  • Knowledge of Annuity and Variable Life products and business practices
  • Strong analytical and data processing skills
  • FINRA Series 6 or 7, or willing to obtain one within 6 months
  • Must be highly organized and have excellent written and oral communication skills.
  • Proficiency with policy administration systems such as R-Pay and OAS is a plus.

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