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Service Analyst
New York Life Insurance
Leawood, KS, 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.
The Insurance Service Analyst will facilitate disbursement and service operational functions for Bank Owned Life Insurance (BOLI), Corporate Owned Life Insurance (COLI), and retail insurance policy transactions. The Service Analyst will also assist in the development of process improvements to reduce manual processing and move to systematic transaction processing.
Responsibilities
of the role include:
• Process broker commissions and service fee payments
• Perform marketer validation for compensation and service fee payments
• Set up new producer and entity commission schedules as well as terminations to ensure accurate record keeping
• Participates on project teams as commission team member
• Develops and maintains relationships with producers and the entities compensation staff
• Answer commission questions submitted via email and phone call
• Review daily premium and commission production reports
• Facilitate payment of service transactions and death claims.
• Scan and index all work types into an automated workflow (AWF) system
• Assist in the transition of manual processes into automated processes
• Process address, owner and beneficiary changes
• Monitor and report all incoming wire transactions.
Requirements
of the role include:
• Minimum of 2 years of relevant work experience
• Bachelor’s degree preferred
• Strong analytical skills including the manipulation and querying of data in Microsoft Access and Excel
• Must be able to work independently, as well as being a strong team player
• Ability to prioritize and multi-task in a fast-paced environment
• Must have or obtain NASD Series 6 within first 6 months
• Must have or complete LOMA courses 1 and 2 within first year
EOE M/F/D/V
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