| 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.
New York Life is seeking a Senior Compliance Associate for one of its investment boutiques - Credit Value Parters, an investment advisor specializing in high-yielding and opportunistic credit investments. This person will be responsible for assisting with all aspects of compliance at the boutique and will work closely with the Chief Compliance Officer (CCO) in developing and executing the firm's Compliance program. The primary objective is to continue a strong, sophisticated and effective "Culture of Compliance" within the firm. The position is located in Greenwich, CT.
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. The position is the onsite Compliance Officer reporting to an off-site CCO and will have regular interaction with senior management, compliance, legal, portfolio management and operations personnel.
Summary of Essential Job Functions
- Interface with the compliance team, management, operations, or legal, as appropriate, to communicate, coordinate and resolve issues, and respond to requests;
- Play an active role in the maintenance and enhancement of the firm's compliance policies and procedures ensuring that regulatory policies are kept up to date.
- Perform testing to ensure policies and procedures are working effectively.
- Work closely with the various teams within the firm to provide analysis and resolution on compliance related matters and elevate difficult or complex issues to compliance management when appropriate.
- Coordinate with the firm's outside service providers to ensure regulatory filings are made timely and accurately.
- Assist in preparing monthly and quarterly compliance reports/certifications as requested.
- Stay updated on all new regulations that impact the firm to ensure the business is compliant with new and existing regulations.
- Help identify potential areas of compliance vulnerability and risk and help develop creative solutions leading to the enhancement of compliance procedures, policies and internal controls.
- Engage in special projects, initiatives, and other activities of an ad hoc nature.
- Provide compliance training and promote our compliance program to members of the firm.
- Importantly, the individual will be expected to be a strong collaborator who will foster relationships across the firm and coordinate regularly and constructively with all relevant functional groups, as well as serve as a strong steward for the firm.
- Assist with performing Rule 206(4)-7 annual reviews and testing, including on-site due diligence reviews of service providers.
- Conduct reviews and prepare reports on the investment adviser's brokerage practices and best execution.
- Research, compile and draft responses to regulatory inquiries and examinations, and other special projects.
The ideal candidate will be a team player with experience in a Compliance function for a private fund or financial institution. The individual will have proven his/her ability to perform Compliance responsibilities without significant oversight. The candidate will be able to work successfully with a diverse set of individuals and constituencies. He/she must be familiar with the regulatory requirements that impact the firm's business. The individual should be able to identify and resolve issues and identify regulatory changes that impact the business. The individual should be highly organized and complete tasks in a timely and efficient manner with attention to deadlines.
In addition, the candidate should have the following:
- Minimum of 5 years of experience in an investment advisor compliance function.
- Minimum of 5 years in the financial services industry.
- Knowledge of the Investment Advisers Act of 1940.
- Bachelor's degree required.
- Excellent business judgment; the ability to integrate business issues and to partner with other key functional areas such as Accounting, Legal, Marketing, Operations, etc.
- Demonstrable knowledge of SEC regulations.
- Knowledge of FINRA regulations and direct lending is helpful, but not required.
- High level of integrity and professionalism.
- Superior judgment in assessing potential compliance matters, the application of industry developments to the business and knowing when to seek independent advice and when to act independently.
- Highly organized and detail oriented; able to solve complex problems in a collaborative manner.
- Results oriented and able to complete tasks prior to deadlines.
- Ability to work independently.
- Strong ethical commitment.
General Profile :
- 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
- Functional Knowledge : Interprets business challenges, identifies trends and recommends best practices
Problem Solving : 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
Communication Requirements : 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.