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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.
Working under the direction of the Policy Services Manager, the Representative will work to achieve the goals of processing the following payment transactions: process complex payments such as reinstatements and premiums in advance; research and respond to miscellaneous payment correspondence requests such as financial histories and basic policy rescission calculations; process premium reversals; performing maximum option to purchase additional insurance payment calculations. In Minneapolis only, process NYL bank account adjustments to balance the account; process accounting functions such as closing our accounts at the end of the day, balancing the cash drawer, manually printing checks, reviewing the listing of uncashed checks, making foreign currency payments and processing incoming wire transfers for premium payments.
The position is also responsible for: processing premium payments, loan repayments and payments to purchase additional insurance; update premium payment arrangements to Premium Offset which will pay premiums due automatically by dividend value; change the frequency of policy premium payments; send the required forms/paperwork to owners to authorize service transactions or correct information; correct errors or provide manual updates for transactions that do not update automatically.
The Representative is expected to work independently with moderate supervision from the manager and assistance from the more senior team members. They will work with other members of the Policy Services Team to provide timely, efficient, and accurate service to policyholders, agents, and employees of related service teams. The Representative is able to process payment requests within the listed processes. They are technical experts for all processes listed above. They may be expected to review procedures and make suggestions when appropriate.
They will make decisions to solve payment related issues for policyholders, agents and the Company. They assist in handling high-profile payment requests such as items requiring immediate processing. They may participate in project teams (for example recovery efforts to update company records or to develop new procedures).
Processes payment requests, with supervision.
Works within established departmental procedures to resolve common payment related issues such as not in good order situations.
Answers Agent and Policyholder calls related to payment requests within the Policy Services processes.
Within regulatory guidelines, transacts financial activity on policyholder accounts in a timely manner, with quality and efficiency levels as determined by department guidelines.
Acts as a technical expert in payment requests listed above.
Develops and maintains working knowledge of administrative and mainframe systems needed to process payment requests.
Assists team members (CS1, CS3, CS4) on a daily basis to complete payment requests in order to meet departmental and regulatory standards.
Communicates technical content in a clear manner to policyholders, agents and team mates.
May suggest improvements to existing payment related processes.
Associates, or Bachelor's degree preferred, or equivalent years of related experience
Minimum 3 years of customer service and/or call center experience required
Accountable, ethical, good decision making ability
Strong written and verbal communication skills required
Good computer skills and ability to multitask
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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