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 2015 operating earnings of $1.875 billion. Total assets under management at year end 2015, with affiliates, totaled $528 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 8/11/15).
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 Senior Associate role will be responsible for drafting new groups and changes in plan. The main objective is to see that all contractual work is accomplished. This role also requires assisting with all SERFF filings: new groups, new products, applications, and well as helping with state objections and compliance requirements. The person in this role must also be able to assist the other people in the unit: double checking their work and providing support to all their questions and training needs. The person must organize the work flow, the assignments within the unit, and keep track of the status.
-Draft new group policies;
-Draft changes in plan to existing policies;
-Perform SERFF filings of policies, riders, applications
-Double check work of the members of the unit
-Train members of the unit:
-Assist in new product development, including compliance and filing needs;
-Assist in proposal reviews and questions
- Bachelors Degree
-10+ Years of Experience
-Legal compliance background;
-Group insurance experience;
-Management experience preferred;
-Knowledge of SERFF
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*Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, June 15, 2015. See http://fortune.com/fortune500/2015/ for methodology.
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.