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New York Life Insurance Company

Compliance Associate

New York Life Insurance Company - New York City, NY

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.


General Profile:


Contribute to the Annuity Service Organizations ensuring compliance with regulatory requirements.  The analyst will fulfill all audit related request in addition to performing Quality Assurance and focus reviews, both of which involve the analysis of various service processes.  Act as a key contact on Compliance related activities for the Third Party Distribution Annuities Service Center (TPD); keep management apprised of compliance matters.  Perform analysis on various control reports; provide results and recommendations.  Develop adherence strategies in conjunction with management, General Council and Governmental Affairs.  Apply strategic thinking and establish functional objectives to align with organizational obligations. This position may be based in either our New York Home Office in Manhattan or Cleveland Service Centers.



Primary Responsibilities:

*Review and respond to internal and external audit requests. Validate data to fulfill requirements. *Conduct in-depth Quality Assurance reviews of work types within the service organization to confirm compliance with regulatory and procedural requirements.  *Continuously look for ways to improve the internal Quality Assurance process. *Analyze critical controls; evaluate the effectiveness of current controls by participating in focus reviews and benchmarking across the organization in addition to participating in business improvement initiatives. *Use results to recommend improvements and corrective measures to potential control deficiencies. *Build relationships with other business units to capture meaningful and value added recommendations. *Conducts suitability evaluations to determine if products are suitable for clients prior to establishing a New York Life Annuity policy * Assist service associates with compliance related issues and questions. *Respond to service related complaints and subpoenas.  Work with departments outside of our service organization to investigate and resolve fraud. *Demonstrate ability to find solutions to unique issues and use judgment to ensure both the company values and client experience are optimal. *Liaise between our Third Party Distribution Compliance team and Office of Governmental Affairs to facilitate the implementation of new requirements.





•Bachelor's degree preferred

•Ability to work independently

•Problem solving and decision making skills

•2 - 4 Years of Quality Assurance experience

•FINRA series 6 required, or attained within six months

•Proficient Knowledge of Excel

•Excellent verbal and written communication skills




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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.

8 days

New York Life Insurance Company


Compliance Associate New York Life Insurance Company - New York City, NY, United States


Location: New York City, NY

Company Profile:
New York Life Insurance has been providing life insurance policies in the Big Apple since it was a tiny seed. While the top mutual life insurer in the US has branched out a bit, it retains its core business: life insurance and annuities. Its products include long-term care insurance and special group policies sold through AARP and other affinity groups and professional associations. New York Life Investments' offerings include mutual funds for individuals and investment management services for institutional investors. Through New York Life International, the firm provides life policies in overseas markets. Founded in 1841, New York Life is owned by its policyholders.