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Group Insurance Compliance - Senior Associate
Location:
New York, NY
Description:
Location Designation: Hybrid - 3 days per week 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 is a hybrid schedule, located in either our NY Office or White Plains Office 1 day a week. New York Life's Corporate Compliance Team is seeking a compliance professional with audit and oversight experience to manage one of New York Life's group insurance business' (Group Benefits Solution (GBS)) compliance and oversight program. The primary responsibilities include establishing and executing Monitoring and Testing activities and performing TPA oversight to ensure adherence to regulatory standards, industry best practices, and internal policies and procedures. This is a second line of defense role. Monitoring and Testing Assist with the development of monitoring and testing processes to scope business activities, including evaluation, analysis, and research. Responsible for the development, execution, and documentation of compliance testing for GBS business. Participates in the overall Quality Assurance program strategy, which addresses operational and compliance risks. Obtain and analyze test data from multiple sources, following documented test plans, and testing procedures. Analyze completed testing results for accuracy and adherence to procedures, and relevant documentation. Prepare and present comprehensive reports on results, findings, including trends and areas for improvement. Create and monitor corrective action plans to remediate findings, ensure all tasks and reporting are completed within established timeframes. Maintain independence in approach, assessment, and overall judgement. TPA Audits, Reviews, and Governance Execute and/or manage annual compliance reviews independently or with key stakeholders. Perform or support annual onsite audit of TPA's policies and procedures to ensure compliance with established governing standards. Oversee, plan, and identify audit scope, coordinate audit review period, evaluate deficiencies, and assess the overall adherence to regulatory requirements and best practices. Conduct sampling testing, identifying any control deficiencies, and documenting test results. Review and analyze TPA responses to include supporting documentation, ensuring applicability, accuracy, and completeness. Apply relevant regulatory rule to test TPA procedures and processes. Summarize audit assessment with rationale for results that support conclusions. Lead bi-annual GBS TPA compliance manual topic review; roll-out project plan to stakeholders, utilize internal database to apply updates, and publish final version. Research complex inquiries and independently form an opinion using good judgement. Manage required TPA training, coordinate deployment with relevant departments. Maintain TPA licensing records in accordance with state mandates. Lead TPA onboarding discussions delivering operating guidelines. Prepare ad-hoc reports. Qualifications and Skills: Bachelor's degree in business administration, accounting, or related discipline. Minimum 7 years business process auditing experience. 7 to 10 years TPA oversite experience within the insurance or financial services industries. Demonstrate an understanding of group insurance operations and products/services. Proficient in Risk/Compliance/Audit competencies. Critical thinker, ability to apply analytical reasoning to solve complex problems, and develop innovative solutions. Excellent organization skills, ability to prioritize multiple tasks and follow through to meet deadlines. Thorough understanding of insurance regulations and TPA compliance standards. Detail-oriented approach to maintaining accurate records and reports. 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: 89610 Nearest Major Market: Manhattan Nearest Secondary Market: New York City Job Segment: QA, Quality Assurance, Social Media, Database, Quality, Technology, Marketing, Insurance Requisition #: 109251XXXX6ahf9io63
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More About this Listing: Group Insurance Compliance - Senior Associate
Group Insurance Compliance - Senior Associate is a Insurance Jobs Insurance Agent Job at New York Life located in New York NY. Find other listings like Group Insurance Compliance - Senior Associate by searching Oodle for Insurance Jobs Insurance Agent Jobs.
Group Insurance Compliance - Senior Associate is a Insurance Jobs Insurance Agent Job at New York Life located in New York NY. Find other listings like Group Insurance Compliance - Senior Associate by searching Oodle for Insurance Jobs Insurance Agent Jobs.