| 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 2015 operating earnings of $1.875 billion. Total assets under management at year end 2015, with affiliates, totaled $528 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 8/11/15).
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.
This role is based in RYE BROOK, New York.
IndexIQ LLC ("IndexIQ") a pioneer and leading provider of innovative investment solutions focused on absolute return, real assets, and international strategies is seeking a Senior Compliance Associate to provide support to IndexIQ's Chief Compliance Officer. IndexIQ solutions are offered as ETFs, mutual funds, separately managed accounts, and ETF model portfolios. The position is located in Rye Brook, NY and is accessible by car or Metro North Train (with shuttle to and from the office).
The duties and responsibilities listed below are representative of the types of responsibilities the employee may handle, but are not intended to be an exclusive list. IndexIQ is looking for a team player to be an active member of the IndexIQ team. The position will have regular interaction with IndexIQ senior management, compliance, legal, portfolio management and operations personnel.
Duties and Responsibilities (including but not limited to):
- Monitoring ETF trading activity to ensure compliance with Prospectus, SAI and other regulatory investment and contractual guidelines.
- Research, evaluate and document compliance issues, and work with internal personnel and service providers to investigate and resolve such issues.
- Interact closely with ETF traders and portfolio managers to appropriately manage pre-trade alerts in the Order Management System.
- Provide timely and accurate advice and guidance to traders and investment operations staff in response to compliance queries.
- Prepare compliance reports for senior management and the Board of Trustees of the IndexIQ Funds.
- Perform Rule 38a-1 and Rule 206(4)-7 reviews and testing, including on-site due diligence reviews of service providers.
- Conduct reviews of and prepare reports on the investment adviser brokerage practices, best execution and soft dollar usage.
- Research, compile and draft responses to regulatory inquiries and examinations, and other special projects.
Qualifications and Experience
- 5 plus years of Investment Adviser compliance experience (preferably some or all of which is related to Exchange Traded Funds).
- Knowledge of the Investment Advisers Act of 1940, as amended, and the Investment Company Act of 1940, as amended, capital markets and other relevant regulations applicable to Exchange Traded Funds and mutual funds is desirable.
- Experience with order management systems (preferably Eze Castle) as it relates to pre trade monitoring of client accounts and the set-up of new rules, accounts and securities in the order management system.
- Proficiency in the complete MS Office suite is required, especially in Excel, Word and PowerPoint.
- Extremely diligent with strong attention to detail.
- Good communication and analytical skills.
- Ability to work independently and meet critical deadlines.
- Strong ethical commitment.
- Willingness and ability to adjust to multiple demands, shifting priorities, and rapid change.
- Bachelor's degree.
- Limited travel may be required.
- Requires specialized depth and/or breadth of expertise
- Interprets internal or external business issues and recommends best practices
- Collaborates with others to solve complex problems; uses sophisticated analytical thought to exercise judgement and identify innovative solutions
- Works independently, with guidance in only the most complex situations
- May play key role in functional projects, processes or vendor management
- Interprets business challenges, identifies trends and recommends best practices
- Collaborates with others to solve complex problems; uses sophisticated analytical thought and education and/or equivalent experience to exercise judgement and identify innovative solutions
Decision Making/ Nature of Impact
- Makes decisions that have cross-functional impact
- Communicates difficult concepts; influences others to adopt a different point of view
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* Based on revenue as reported by "Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 15, 2015. See http://fortune.com/fortune500/2015/ for methodology.
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.