SMA Trading & Operations Associate

  • Competitive
  • Jersey City, NJ, USA Jersey City NJ US
  • Permanent, Full time
  • New York Life Insurance Company
  • 15 Jul 18 2018-07-15

SMA Trading & Operations Associate

New York Life Investments (NYLIM), an indirect, wholly owned subsidiary of New York Life Insurance Company, is a top 25 global asset management firm. With more than $500 billion in assets under management, NYLIM is a premier investment management firm serving a variety of client segments including retail, institutional, insurance and defined contribution and benefit on a global basis. New York Life Investments offers a diverse set of investment capabilities ranging from traditional equity and fixed income to alternative investment strategies and multi-asset solutions. Renowned for its premier investment acumen and client focus, NYLIM's vision is to be one of the most trusted providers of investment management expertise and long-term financial security.

The New York Life Investment Management (NYLIM) seeks a mid-level professional to join the Separately Managed Account (SMA) Department. This position will support trading and implementation of equity and fixed income strategies. The position will report to the Head of Separately Managed Accounts.

Key responsibilities and functions include, but are not limited to:

  • Review the set-up of new accounts in the appropriate systems along with any client restrictions.
  • Review and resolve discrepancies in portfolio holdings.
  • Review and resolve discrepancies between orders and execution.
  • Maintain real-time model performance on Market Q.
  • Update and reconcile model based trading platforms.
  • Rebalance Managed Accounts for assigned sponsors.
  • Generate, coordinate and execute proposed trades. Verify trade execution and allocation.
  • Prepare and electronically distribute various control reports.
  • Reconcile all cash using exception reporting in APL through all sponsor platforms.
  • Support trading team and trading functions.
  • Review legal agreements, operation manuals and supplements to ensure compliance with various platforms.
  • Conduct pre-trade research and analytics to help prepare trading team for days activities.
  • Prepare adhoc analysis and presentation decks for the team.

Minimum Qualifications
  • Undergraduate degree in Accounting, Finance, or Business Management
  • Proficiency with Microsoft Excel / PowerPoint
  • Thorough knowledge and use of Fiserv APL
  • Proficiency with Bloomberg functions and formulas
  • Minimum of 3-5 years SMA/UMA experience
  • Series 7 required

Preferred Skills
  • Attention to detail
  • Ability to multi-task
  • Excellent problem solving and time management skills
  • Ability to work independently


If you have difficulty using or interacting with any portions of this Web site due to incompatibility with an Assistive Technology, if you need the information in an alternative format, or if you have suggestions on how we can make this site more accessible, please contact us at: (212) 576-5811.

* Based on revenue as reported by "Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 15, 2015. See 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.