Location Designation:
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 will act as Team Lead for all the compliance responsibilities related to policy form drafting, regulatory filings, systems implementation, and maintaining the continued compliance of our new and inforce Flexible Premium Life Products. Additionally, this position leads and represents the compliance team in all initiatives related to the drafting, filing and implementation of new business forms required in the sales process for our Life products.
This position collaborates with key stakeholders throughout the Company from Product, Legal, Corporate Compliance, Government Affairs, Underwriting, Service and Technology, as needed, to draft policy forms, riders, endorsements, and other disclosures related to our Life Product initiatives.
The major responsibilities of this position include, but are not limited to, the following:
- Representing Life Product Compliance on all applicable core team and interdepartmental meetings to provide compliance support for product design sessions
- Drafting policy forms and applications and managing the regulatory filings of all such forms in close collaboration with key stakeholders from Product, Actuarial, Service and the Legal teams. Coordinating and leading any drafting discussions related to the policy form development
- Working with junior members of the team to coordinate and track regulatory filings through SERFF for the policy forms, as well as applications and any new business forms
- Responding to all correspondence received by regulators related to our policy and application filings
- Preparing and providing the necessary forms to various new business workstreams throughout the company for implementation, as well as working with outside vendors for typesetting, printing, uploading and storage of forms, as needed
- Ensuring timely and accurate implementation of our policy and new business forms through participation of pre-launch and post-launch testing
- Collaborating with Corporate Compliance and Office of Government Affairs regarding new and proposed laws and regulations to assess the impact to our products and policy forms
- Participating in and acting as lead in other compliance projects
Qualifications:
- Bachelor’s Degree; Legal training or JD a plus
- 5-7 years related experience; prior experience insurance industry with strong experience in regulatory research and drafting forms
- Must have strong analytical skills and excellent judgement in assessing compliance risks and issues related to product compliance
- Must have the ability to effectively lead compliance projects and prioritize and manage multiple projects based on business objectives. Must have ability to think and act strategically and influence others
- Must have the ability to effectively collaborate with colleagues, think analytically and strategically to solve any compliance issues or questions as they arise
- Ability to be diligent in gathering necessary information and research to and make reasoned decisions regarding compliance which may have cross-functional impact
- Must have excellent written and oral communication skills with the ability to tailor communication based on the intended audience as needed
SF: #LI – LS1
#LI – HYBRID
Salary range: $90,000-$135,000
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: 88864