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Senior Associate, Financial Controls Unit
NYLIFE Securities, Inc.
Jersey City, NJ, United States
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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.
Ensure organizational standards, governance and practices for the company’s internal control over financial reporting complies with the NAIC Model Audit Rule (MAR) and Sarbanes-Oxley Act (SOX).
Responsibilities include:
• Support the on-going development and maintenance of the NYL MAR/SOX Program governance, policies, standards and procedures.
• Support the FCU Business Process Manager to execute the day-to-day activities of the MAR/SOX program.
• Responsible for the execution of the testing program for all business controls that impact financial reporting.
• Support the FCU Business Process Manager with materiality and scoping of all business controls that impact financial reporting.
• Work with business process and control owners to develop remediation strategies to address deficiencies in internal control over financial reporting.
• Collaborate with business units to assess consistency of the application of MAR/SOX Program requirements.
• Assist with developing and contributing to the tools that support the MAR/SOX Program (SharePoint, Wdesk, BWise GRC, etc.).
• Assist with the development and compilation of executive level presentations on the state of internal control over financial reporting for the MAR/SOX Program.
• Support the development, maintenance and delivery of MAR/SOX Program training curriculum.
• Support coordination with internal/external risk and control functions (e.g., Risk Management, IT Risk and Security, Corporate Audit, external auditor) to improve integration of governance, risk and compliance functions.
• Act as liaison with Corporate Audit, external auditor and state regulators for internal control over financial reporting issues.
• Proactively collaborate with the first, second and third lines of defense to drive awareness, accountability and additional oversight in the implementation and ongoing effectiveness of internal control over financial reporting.
• Proactively participate in various risks and controls committees and/or working groups of NYL as assigned.
Qualifications:
• Bachelor's Degree with emphasis or concentration in Accounting, Finance
• Minimum of 4 years of experience in roles with major responsibilities for oversight of and/or testing internal control over financial reporting is required
• Basic knowledge of Service Organization Control reports (e.g., SOC1s) is required
• Basic knowledge of Insurance and Asset Management businesses is preferred
• Big four experience is strongly preferred
• CPA or CIA is preferred
• Demonstrated leadership and ability to manage and supervise staff/consultants in a highly productive environment
• Strong oral and written communication skills. Must be able to effectively communicate with various levels of management, internal customers and auditors
• Team oriented. Ability to work in a fast-paced environment and shift priorities as necessary
• Proficient in Microsoft Excel, Word, Access, Visio, Power Point and SharePoint is required
SF:LI-MD1
SF:EF-MD1
EOE M/F/D/V