Market Surveillance Senior Associate - Compliance

  • Competitive
  • White Plains, NY, USA White Plains NY US
  • Permanent, Full time
  • New York Life Insurance Company
  • 17 Jul 18 2018-07-17

Market Surveillance Senior Associate - Compliance

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.

Job Title: Market Surveillance Senior Associate - Compliance 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 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 various sales and compliance reports designed to identify sales practice patterns and will coordinate resolution to findings with field and home office supervisory personnel.

Overview of Market Surveillance Unit:
The Market Surveillance Unit 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 and trends that present an overall picture of the agent's risk profile.
  • Prepare clear and concise reports of review 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 the Company's Enhanced Supervision Committee meetings to create and monitor completion of supervision plans.
  • Monitor CCD's toll-free line and email for customer responses to audit letters. Answer customer inquiries and facilitate resolutions.
  • Assist with the development of surveillance reports.
  • Engage in special projects, initiatives and other activities as needed.

Requirements:
  • 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 analytical and investigative skills.
  • Decisive and mature with the ability to collaborate and create consensus.
  • Excellent verbal and written communication skills.
  • Excellent organizational skills. Ability to manage multiple work items, work independently and follow through to completion.
  • Strong work ethic and attention to detail.
  • Series 6 or 7.
  • Proficient with Microsoft Office and expertise in Excel.


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