Product Support Associate in New York, New York | DiversityInc Careers
 
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Product Support Associate

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.

 

Job Description:

 

This role will report directly to the Corporate Vice President in charge of the Variable Universal Life Inforce Product Manager within Retail Life. The position will be responsible for supporting both the Universal Life (UL) as well as the Variable Universal Life (VUL) Inforce Product Managers to identify and investigate any potential or known administrative issues on the UL and VUL product lines.  Interest to learn, accuracy and attention to detail are required for this person to succeed.  This role also requires effective collaboration with others across the organization to identify and solve problems. Previous knowledge of Universal Life and/or Variable Universal Life products is needed.

 

 

Major Responsibilities:

  • Assist in researching, summarizing, tracking, developing and executing solutions for various remediations spanning the UL/VUL product lines.
  • Review and recommend enhancements and changes to streamline policyholder communications to enhance customer experience as well as agent communications.

 

Requirements:

  • Bachelor's degree
  • 1+ years of relevant experience with a focus on Universal Life and/or Variable Universal Life products.
  • Strong attention to detail, analytical skills, organizational skills, oral and written communications skills required.
  • Proficient with Microsoft Office suite software to analyze, summarize, and present information.

 

 

 

 

 

 

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 http://fortune.com/fortune500/  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.