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.
Are you a personable, customer-service oriented individual? Are you interested in helping people protect their future? Are you interested in a career with an industry leader? If so, New York Life Insurance Company may be the company for you.
New York Life's Service Organization strives to provide best in class service by making every service experience a positive one. It is the hallmark of what we do and how we keep good going. We are looking for customer focused accountable, efficient and engaged professionals who are dedicated to and guided by a commitment to service excellence.
Under the direction of the Manager, the Representative must work to achieve the goals of their team by working both independently and with other members of the team in order to provide accurate and efficient service. The Representative will have a proficient understanding of Variable Annuity Products and the systems that support our products in order to perform their duties satisfactorily.
Review and process inforce business transactions using systems such as Cyberlife, CABS and Automated Work Flow.
Accurately process routine Check-O-Matic set-ups, cancellations and changes.
Work closely with Northern Trust lockbox operations on a daily basis to ensure that all items are reviewed and decided as necessary.
Resolve all payment errors and suspense conditions within 5-day compliance standard. Obtain client authorization to hold funds beyond 5 days should a situation warrant additional requirements.
Accurately and timely process the following in accordance with established procedures and within SEC guidelines: client remittances, unidentified remittances (UNIDs), un-bankable items, cash equivalents, NG check items, suspense items, issue refund checks, and apply and reverse premium payments.
Assist with daily reconciliation of accounts and help prepare month end adjusting entries as necessary.
Assist in the preparation of manual checks.
Maintain proficient working knowledge of our administrative systems, products and services.
Investigate routine complaint cases as assigned by manager.
Bachelors or Associates degree preferred, or equivalent years of related experience
Minimum 2 years of experience in a related field
Accountable, ethical, good decision making ability
Strong written and verbal communication skills required
Good computer skills and ability to multitask
Proficient knowledge of Microsoft word and Excel.
Strong Interpersonal skills
Training & Development: Customer Service Representatives undergo a comprehensive paid on-site training program to learn about the insurance industry, product and policy provisions and transaction processing. Coaching and feedback is provided to help you gain the necessary skills to be successful.
Shift Information : This is a full-time position Monday through Friday. Candidates should be flexible to work any 7.5-hour shift between 8am - 6pm during the work week.
Salary: Competitive full-time base salary, overtime eligibility plus target bonus
Benefits: Paid Vacation, Health Care, 401K match, Pension Plan, Tuition Assistance, Flexible Spending Accounts
Career Opportunities : New York Life offers a variety of corporate opportunities within the Service Organization, including management, quality control, training, underwriting and claims.
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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.