New York Life Insurance Company Senior Associate, Regulatory Review and Reporting in New York, New York

New York Life Insurance Company is the largest mutual life insurance company in the United States. Founded in 1845 and headquartered in New York City, New York Life reported 2017 operating earnings of $2.06 billion. Total assets under management at year end 2017, with affiliates, totaled $586 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 independent rating agency commentary as of 8/1/17).

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.

Title: Individual Contributor – Regulatory Review and Reporting

Level: PF3

Department: Corporate Compliance - Regulatory Reporting / Complaints Review

Role Overview: The objective of the position is to ensure timely and accurate reporting and responses consistent with corporate policy and regulatory requirements. The Individual in this position will track and review matters including consumer complaints, civil litigations, arbitrations, judgments and liens, bankruptcies, criminal matters, regulatory actions, and terminations to determine whether a reporting obligation exists to any state or federal insurance or securities regulator such as Financial Industry Regulatory Authority (FINRA), state insurance departments, and state securities departments. In addition, this individual will track, coordinate and respond to regulatory requests and examinations involving sales practice violations and other regulatory and compliance issues.

Role Responsibilities

  • Determine the required disclosures on Form U4 and U5 pertaining to customer complaints, arbitration, and litigation matters

  • Evaluate communications from customers to determine whether the communication constitutes a complaint per FINRA Rule 4530

  • Coordinate, prepare and ensure timely and accurate submission of regulatory filings including U4, U5, Rule 4530 disclosures and state insurance department disclosures

  • Track and conduct thorough investigations of all regulatory requests and follow-ups to ensure all responses are timely, complete, accurate and consistent

  • Coordinate with business units, operations, and Office of the General Counsel to ensure timely collection of all responsive documents and information

  • Provide guidance to business unit personnel, Agents and Field Managers regarding internal regulatory reporting procedures, FINRA Rules relating to Form U4, and regulatory inquiries

  • Prepare and review reconciliation, management status and control reports to determine that all matters are handled in a timely manner

  • Identify regulatory issues and late filings and communicate concerns and recommended solutions to management

Required Qualifications

  • Bachelor’s degree from an accredited four-year university

  • Series 7, or willing to obtain within 6 months of hire

  • Strong project management and organizational skills

  • Advanced Microsoft Office skills (Excel, Word, Access and PowerPoint)

  • Excellent interpersonal and communication skills

  • Proven ability to work independently as well as in a team environment

  • Resourceful and solutions oriented

  • Strong analytical skills and attention to detail

  • Investigative mindset

  • Ability to understand, summarize and synthesize large, complex volumes of information for wide dissemination

  • Exceptional organizational and time-management skills including the ability to prioritize multiple projects at varying stages in a dynamic environment in order to meet tight deadlines

Desired Qualifications:

  • Prior Broker Dealer experience, preferably in compliance or operations, or experience working for a regulatory agency such as FINRA, SEC or state securities department

  • J.D. preferred, but not required

  • Knowledge of insurance and securities products including mutual funds, 529 plans, fixed and variable life and annuity products


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