Code of Ethics Analyst

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • New York Life Insurance Company
  • 22 Oct 17 2017-10-22

Code of Ethics Analyst

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 2016 operating earnings of $1.954 billion. Total assets under management at year end 2016, with affiliates, totaled $538 billion. As of year-end 2016, New York Life's surplus was $23.336 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 8/17/16).

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.

General Profile :
This position will be within the Securities Standards team of Wealth Management, Eagle Strategies, LLC (Registered Investment Adviser) to primarily conduct Code of Ethics monitoring in compliance with Section 204A-1 of the Investment Advisers Act.
• Review preclearance and blackout period violations via the Sungard Protegent PTA system.
• Communicate violations with employees, Financial Advisors and staff via email and phone.
• Respond to questions from employees, Financial Advisors and staff regarding the firm's Code of Ethics program and preclearance policies via phone and email.
• Draft internal disciplinary referrals to Agency Standards as necessary.
• Review initial holdings reports.
• Conduct monthly reviews of Eagle's new affiliations. Update Sungard and send initial COE certifications. Administer quarterly access person, annual holdings, annual code of ethics, annual adviser questionnaire and quarterly ERPP, RAA rebalance, discretionary account certifications via the Sungard Protegent PTA system. Send follow-up emails and ensure completion. Submit disciplinary referrals as necessary.
• Review and correct system data errors within the Sungard PTA system, including Broker Account, Broker Position, Broker Transaction, Portfolio, Portfolio User and Trade.
• Proactively identify and resolve compliance issues that may arise during daily activities.
• Exercise good business judgment and recognize when it is appropriate to escalate an issue.
• Assist with the firm's quarterly collection of paper statements.
• Assist with updating internal policies and procedures.
• Assist with other projects and initiatives as needed. Support statistical reporting for 206(4)-7

Functional Knowledge:
• Bachelor Degree
• Minimum of 5-7 years operational risk experience in Asset/Wealth Management
• Series 7 and 66 preferred or must be attained within 6 months
• Experience with Sungard Protegent PTA system a plus
• Excellent Excel skills
• Strong analytical skills
• Self-motivated and able to multi-task and work independently
• Must be able to have intermediate discussions about various products including brokerage (NYLIFE Securities) vs advisory(Eagle)

Problem Solving : Must be able to efficiently collaborate with other functional areas to address identified risks.

Decision Making/ Nature of Impact : May be able to make decisions within reason that will impact Code of Ethics monitoring. This may involve working with Sungard to 'cure' automated feed issues.

Communication Requirements : Must effectively communicate with Eagle IARs and Home Office partners (Agency Standards, CCD, Eagle Operations, etc) regarding Code of Ethics monitoring and other supervisory related items.

                        EOE M/F/D/V

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                        * Based on revenue as reported by "Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 17, 2016. See for methodology.
                        ** Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company's long-term financial strength and stability and is presented on a consolidated basis of the company.

                        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.