Senior Associate, Compliance, Data Analytics
- New York, NY, USA
- Permanent, Full time
- New York Life Insurance Company
- 16 Aug 17
Senior Associate, Compliance, Data Analytics
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.
The Compliance Analytics Team is responsible for reporting compliance data on a scheduled and ad hoc basis. The team is also tasked with identifying opportunities to strengthen the Company's sales practice and supervision processes, and to provide valuable and strategic feedback to the business units on emerging sales practice trends. This is accomplished through analysis and trending, which may be used to define new reports that better identify potential risks.
• Collect and analyze data related to customer complaints, sales, customer and agent data on a scheduled and ad hoc basis.
• Identify trends and associated root causes. Propose solutions where possible.
• Prepare reports for Regulators, Senior Management, New York Life's Board of Directors and other NYL departments.
• Ensure key trends, issues and watch items are presented clearly and accurately.
• Participate in the design and testing of new reports and enhancements to existing reports and systems to improve and automate existing processes.
• Work with business units to develop corrective action plans as a result of compliance testing efforts and market conduct exam findings
• Handle special projects as needed.
Qualifications and Job Requirements
• Bachelor's Degree.
• At least 3-5 years of experience in compliance related field, preferably in a compliance reporting function.
• Advanced analytical and problem solving skills.
• Analyzes possible solutions using experience, judgment and precedents. Receives a moderate level of guidance and direction.
• Proficient in Microsoft Excel and Access, including pivot tables, macros, forms and reports.
• Knowledge of Crystal Reports and Webi is a plus.
• Demonstrates comfort with learning new software and other analytical tools.
• Strong working knowledge of the products offered by New York Life and its affiliates.
• 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.
• Must have good judgment, be a self-starter and proactive.
• Must be able to work independently as well as within a team environment.
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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 http://fortune.com/fortune500/ 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.