Fraud Protection Sr. Analyst in New York, New York | DiversityInc Careers
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Fraud Protection Sr. Analyst

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.





Working under the direction of the Client and Agent Protection team manager, the Senior Associate is responsible for performing reviews for the Client Identification Program and fraudulent activity which involves the analysis of alerts to validate our clients’ identity and identify fraudulent activity such as account take overs, familial fraud, employee fraud, etc.  The Senior Associate is required to review and independently decision more complex alerts timely and accurately leveraging their experience, fraud knowledge, technology and industry trends. This includes proactively analyzing trends using link analysis, identifying emerging issues, behaviors and process gaps that can pose a future risk. The position is required to independently mitigate financial losses of compromised client's in a timely manner by knowing how to secure the client's account, have transactions reversed, interact with clients to confirm transactions and our business partners, etc.  Identify inefficiencies and control gaps from having a very strong understanding of NYL's fraud landscape as well as within the industry. Communicate to the Client & Agent Protection team management and their business partners any findings and propose solutions to address issues identified is required. The Senior Associate will at times act as a project manager to help facilitate initiatives to enhance the Client & Agent Protection team’s functions. This individual will help coordinate projects with Technology, objectives and the path for implementation.


General Profile:

• Conduct thorough in-depth Customer Identification Program and fraud reviews of complex cases.
• Act as a lead on the review and direct team members on more complex Customer Identification Program or fraud reviews.
• Propose process improvements and recommendations to management.  
• Provide coaching and feedback to team members on more complex Customer Identification Program or fraud reviews.
• Update and maintain the Customer Identification Program and fraud tracking mechanisms.
• Manage alert queues and assign/allocates work to team members if necessary.
• Follow up with our business partners regarding open items.
• Provide updates to management and our business partners on the Customer Identification Program and fraud activity.    
• Mentor and train team members on the Customer Identification Program and fraud review process and assist them with analyzing data and trends.
• Provide Customer Identification Program or fraud training to new hires in the call center and service teams.
• Interact with clients to validate information and confirm transactions requested were properly authorized.
• Provides daily/monthly work on hand reporting to the Client and Agent Protection management.



  • Degree - required
  • Experience - 3+ years
  • CFE preferred


Additional Qualifications:

  • Technical Expertise: Expected to have a high degree of understanding of the Customer Identification Program and fraud process. Monitor the team's queues and reports to identify high risk activity. Ability to analyze accounts and patterns of activity to identify fraud trends through link analysis to determine if multiple policy holders are effected by a fraud incident. Work with IT to enhance or change the Customer Identification Program and fraud review alerts and how they are reviewed.


  • Business Knowledge: Possess a strong familiarity with the systems and procedures of the various business units in the Insurance Group.  A solid understanding of the service environment and various company products (life insurance, fixed, variable and income annuities, mutual funds, securities, stock and bonds). Leverage best practices in the fraud industry and keep up to date on emerging fraud schemes.


  • Leadership: Provide guidance and training on various aspects of the Customer Identification Program and fraud review. Act as lead on the review and may direct team members. May provide informal feedback directly to team members or indirectly through the Client and Agent Protection team manager and may lead special projects.


  • Problem Solving: Interpret and analyze findings to determine best practices to develop and communicate recommendations to eliminate gaps in controls. Test and evaluate that the controls in place are working as intended and formulate recommendations to strengthen the control environment.


  • Decision Making/ Nature of Impact: Collaborate with management and business units to identify inconsistencies in the control environment across the Service organization. Make recommendations to improve the efficiency and control environment to prevent fraudulent activity. 


  • Communication Requirements: Communicate information to a wide variety of individuals throughout the organization and at various levels. This position requires good oral and written communication skills to communicate their findings as well as provide an analysis of their findings to management and/or our business partners. Also, required to provide training/guidance to those outside the Client and Agent Protection team. 








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