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Client and Agent Protection Team Associate
New York Life Insurance
New York, NY, United States
Job Details - this job has expired, please see similar jobs below
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 Associate is responsible for performing reviews for the Client Identification Program (CIP) and fraudulent activity which involves the analysis of alerts to validate our clients’ identity and detect suspicious activity such as account take overs, familial fraud, employee fraud, etc. The Associate is required to review and independently decision alerts timely and accurately within the procedures outlined and utilizing prior experience. 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 clients in a timely manner by knowing how to secure the client's account, have transactions reversed, interact with clients to confirm transactions, etc. Communication to the Client & Agent Protection team management and the teams' business partners of any findings and proposed solutions to address issues identified in the Customer Identification Program and suspicious activity review process is required.
Major Responsibilities:
• Manage alert queues.
• Conduct thorough in-depth Client Identication Program and suspicous activity reviews.
• Update and maintain the Client identification Program and suspicious activity tracking mechanisms.
• Develop detailed summaries of suspicious acticvity and maintain log of all impacted clients and mitigation stategies.
• Analyze data to identify trends/patterns and present findings for potential further investigation.
• Act as point person for customers negatively impacted by risk events.
• Based on information gathered during Client Identificaiton Program and suspicious activity reviews, propose process improvements.
• Refer cases to the team's business partners when needed and follow up open issues.
• Provide updates to management on Client Identificaton Program and supsicious activity alerts.
• Provide training and guidance to junior team members and coach call center reps on red flags.
Qualifications:
• Degree - required
• Experience at least 2 years of similar work experience
Additional Qualifications:
• Technical Expertise - Expected to have a strong understanding of the Customer Identification Program and suspicoius activity reviews to evaluate alerts. Ability to analyze the significance of the suspicious activity and mitigate the situation with the appropriate solution.
• Functional Knowledge - Familiarity with the systems and procedures of the various business units in the Service department. Have a strong understanding of the service environment and various company products (life insurance, fixed, variable and income annuities, mutual funds, securities, stock and bonds). The individual ie expected to main strong working relationships with the business areas to keep up to date procedures and processes.
• Leadership - The Client and Agent Protection Associate may provide training on aspects of the Customer Identification Program and/or suspicoius activity review process to junior team members and may present their findings to the team's business partners.
• Decison Making - Leverage information gathered during Customer Identification Program and suspicoius activity reviews to identify new fraud schemes and any inconsistencies across the service operations which creates gaps that may allow for fraudulent activity.
• Communication Skills - This position requires good oral and written communication skills to update the Customer Identification Program and/or fraud tracking mechanisms, as well as clearly and succintly communicate findings to management, business partners, agents and clients.
SF:LI-JM1
• EOE M/F/D/V
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