Senior Associate - Data Analysis
- Jersey City, NJ, USA
- Permanent, Full time
- New York Life Insurance Company
- 17 Oct 18
Senior Associate - Data Analysis
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.
The Institutional Annuities Department's Client Service and Operations Team is seeking a motivated and team oriented individual to join our group. The Installation and Special Projects Senior Associate will partner with our relationship management team to onboard new pension risk transfer (PRT) sales, calculate nonstandard items, and work on special projects across the department.
- Supporting the installation, set up and maintenance of databases containing information for participants purchased under single premium group annuity contracts
- Calculate nonstandard items, which include lump sum illustrations, benefit split calculations for Qualified Domestic Relations Orders, and premium due or refund for participant census changes
- Convert participant-level census data into a consistent format for use in pricing models
- Act as a resource for the interpretation of group annuity contract provisions and related benefit quotations
- Key partner in providing technical, analytical, and testing support for area projects to improve processing efficiency
- Provide support and assistance to area personnel responding to inquiries from participants, financial institutions, and clients to ensure a high level of service excellence
- Provide responses to technical questions related to the claims and death processing and other functions for the PRT block of business
- Understand and stay current with operational procedures
- Bachelor's Degree required; math aptitude
- 4+ years of related exp.
- Strong oral and written communication skills. Must be able to effectively communicate with various internal/external clients and teams at different levels
- A positive attitude and a willingness to work as a member of a close-knit team
- Knowledge of, or a desire to learn, the provisions of group annuity contracts and ability to interpret them and perform related mathematical calculations
- Accountable, ethical, good decision-making ability
- Advanced Excel skills
- Experience with defined benefit pension plans a plus
- Ability to take the lead on specific projects
- Ability to work independently while remaining flexible to meet team goals
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