Location Designation: Hybrid
When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.
This position primarily involves a hybrid work schedule – working remotely: Monday & Friday / on site: Tuesday, Wednesday and Thursday.
The Associate for the Group Membership Association Department (GMAD) of New York Life is responsible for collecting premiums, recording marketing expenses and compensation to our Third-Party Administrators and Policyholders for a block of GMAD’s more complex groups. Responsible for recording premiums, commissions and service fees and marketing expenses in GMAD’s internal systems for these groups. Responsible for monthly sales reporting. Works to streamline procedures and processes. Additional responsibilities include Sarbanes Oxley certification, system testing and census update.
Role Responsibilities:
- Administers the billing and premium receipts for a block of medium to large sized GMAD accounts.
- Performs premium and compensation functions including calculating compensation payable to Brokers.
- Verifies Third Party Administrator’s Internal and External Marketing Expenses.
- Monitors New Business sales for the same block of business. Research variances month over month and year over year.
- Prepares and updates spreadsheets used for Policyholder reporting and dividend calculations for that block of business.
- Provides financial information need for Annual Statement and Quarterly projections.
- Works closely with Third Party Administrators to determine and resolve reporting issues related to premiums, compensation, and sales data.
- Participates in maintaining existing systems including the testing and implementation of system modifications.
- Uses advanced knowledge to improve and streamline processes.
Role Requirements:
- Three to Five years’ experience, preferably in the insurance industry.
- Bachelor’s degree, preferably in Accounting, Math, or Economics; or equivalent experience
- Strong technical skills with Microsoft applications (Excel, Word, and Access databases)
- Ability to handle multiple tasks and work independently
This position primarily involves a hybrid work schedule – working remotely: Monday & Friday / on site: Tuesday, Wednesday and Thursday.
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Salary range: $58,500-$85,000
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.
Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We’re proud that due to our mutuality, we operate in the best interests of our policy owners. 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.
Job Requisition ID: 89080