New York Life's Group Membership Department seeks a qualified individual to join the Financial Underwriting Team(FUW) in the White Plains Office. This position will be primarily accountable for underwriting Group policies insuring Association members for a product portfolio that includes Annual Renewable Term Life, 10/20 Year Level Term Life, Accidental Death & Dismemberment, Long & Short Term Disability, and other ancillary lines. The position requires the ability to utilize a variety of internal & external reports to analyze claims data, mortality & morbidity trends, demographics and tabular rating, all in an effort to make sound renewal and pricing recommendations that contribute to GMAD profit & growth goals. This individual will debrief their manager and GMAD senior management regarding findings & analysis in order to gain consensus on recommended actions.
Primary Job Responsibilities:
- Independently gather, illustrate & analyze financial experience, demographic data and policy provisions to formulate & recommend renewal actions when appropriate.
- Partner with FUW Manager, GMAD Account Managers, TPAs, Brokers and Policyholders to negotiate & ultimately rollout agreed upon renewal actions.
- Working with Account Management to assess & respond to various marketing requests initiated by TPA’s & Brokers, in an effort to spark product sales.
- Utilize policy year retention exhibits and related funding arrangements to assess risk and make well informed financial decisions.
- Statistical analysis of both internal & external population data to price products and benefit revisions.
- Provide, as needed, premium verification testing relating to SOX regulations.
- Participate in meetings with Manager and/or Senior Management regarding ongoing case specific action plans to meet & maintain profitability & growth.
- Research ways to improve FUW efficiency related to gathering, illustrating and dissecting financial data on a case level and macro basis.
- Ad hoc project support as needed.
- 10 years Group Insurance experience in Financial Underwriting.
- Proven ability to work independently.
- Strong analytical & mathematical skills
- Excellent verbal & written communication skills
- Past experience with various funding, pooling and reinsurance arrangements.
- Strong knowledge of Group Insurance products.
- 4-year degree from accredited college or university (preferably business or math related)
- Strong mastery of Excel including the use of data analysis tools such as Pivot Tables & Charting