Job Description

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. Its a career journey you can be proud of, and youll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. Recognized as one of Fortunes Worlds Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. 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.

Corporate Compliance Department Group Insurance, Senior Associate

The Group Insurance Senior Associate is responsible for assisting with implementing and maintaining an effective Third-Party Administrator (TPA) compliance program for our group insurance business. Working closely with the local compliance team, business leaders, the Office of General Counsel, the Office of Governmental Affairs, and other stakeholders, the Group Insurance Senior Associate will help ensure that TPAs and vendors are operating in compliance with applicable federal and state laws, regulations and Company guidelines. The Group Insurance Senior Associate will be responsible for facilitating responses to Market Conduct inquiries and monitoring the remediation of general compliance issues.

Responsibilities

* Support the Third-Party Administrator oversight program to ensure legal and compliance requirements, as well as New York Lifes compliance standards, are met.
* Collaborate with the appropriate business units to formulate and execute compliance reviews of the TPAs; including identifying scope, reviewing procedures and documentation, identifying issues, and communicating findings.
* Identify potential areas of compliance risks and provide appropriate solutions to mitigate those risks.
* Provide support for the development, maintenance, and delivery of the business units Third-Party Administrator Compliance Manual.
* Work with the local compliance team, the Office of Governmental Affairs, and the Office of General Counsel to monitor legislative and regulatory activity that may impact the business.
* Work with appropriate subject matter experts to facilitate responses to market conduct inquiries and examinations. This includes the review and validation of data in response to market conduct requests from various regulators.
* Independently test the remediation of significant department of insurance examination findings.
* Work with the appropriate business units to develop corrective action plans as a result of compliance testing efforts and market conduct exam findings.
* Prepare reports for Regulators, Senior Management, New York Lifes Board of Directors and other departments.
* Ensure key trends, issues and items being monitored are presented clearly and accurately.
* Handle special projects as needed.

Qualifications and Job Requirements

* Bachelors Degree.
* At least 5 years of experience in a compliance role within an insurance company; working knowledge of TPA compliance preferred.
* Strong working knowledge of group life, accident, and disability insurance products.
* Excellent written and oral communication skills with the ability to present information in differing degrees of detail and form depending on the audience.
* Excellent organization skills, ability to prioritize multiple tasks and follow through to meet deadlines.
* Analyzes possible solutions using experience, judgment and precedents. Receives a moderate level of guidance and direction.
* Must have good judgment, be a self-starter and proactive.
* Must be able to work independently as well as within a team environment.

SF:LI-ID1

EOE M/F/D/V

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Job Requisition ID: 82825