Senior Associate, LTC Underwriting Quality Control

Job Requisition ID: 91003

Location Designation: Fully Remote 

 

When you join New York Life, you’re joining a company that values development, career growth, collaboration, innovation, and diversity & inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.

 

Business Unit Overview:

As part of Underwriting, you'll wear the dual hats of expert and innovator. You'll leverage your keen eye and analytical skills to assess risks with precision, upholding our tradition of financial prudence. Simultaneously, you'll contribute to modernizing tools and processes, driving the company's evolution in a dynamic market. Your work directly impacts company performance and empowers individuals to plan for their financial security with confidence.

 

Role Overview:

Underwriting Quality Control (UW QC) for individual life underwriting was established in May 2014. Its goals are to gain assurance that Underwriting utilizes best practices, adheres to company guidelines, follows regulations, and that policies are issued with accurate ratings at the best offer possible. Additionally, UW QC evaluates Underwriters performance, assesses training needs, recommends updates to the Underwriting Manual, and suggests system enhancements. The UW QC team consists of the CVP/Manager and five individual life Underwriters who review underwritten cases prior to final decision daily.

New York Life is looking to add an Underwriter with LTC underwriting experience to this team. In this role, you will be responsible for reviewing decisioned LTC applications and reviewing for accuracy in accordance with the LTC manual, providing feedback to Underwriting and the LTC managers on adherence to regulatory requirements, corporate standards and best practices.

 

What You'll Do:

• Demonstrate knowledge to underwrite (approve, decline, or apply ratings) to LTC applications and morbidity risk while using medical, cognitive, MIB, and prescription histories in accordance with LTC underwriting guidelines.

• Perform post issue quality reviews of underwritten LTC Solutions applications. The Senior Associate will leverage their LTC Underwriting expertise and use critical thinking and judgment to ensure that QC assessments are fair and balanced.

• Understand NYL's LTC Underwriting methodology and stay current by attending training, reviewing bulletins, release enhancements and best practices communications.

• Utilize the LTC QC checklist as a guide to ensure all aspects of a policy are assessed. These are broad guidelines, and each policy is reviewed in accordance with the LTC Underwriting Manual and criteria set forth by the LTC CVPs.

• Identify trends and look for ways to improve underwriting efficiencies (such as training needs, revisions to procedures, updates needed to Underwriting rules, system enhancements, etc.).

• Collaborate with LTC Underwriting Managers for corrective actions needed on policies.

• Assist with special projects and analyses as needed. Assist the LTC Underwriting organization with organizational initiatives, focused reviews, or business needs.

 

What You'll Bring:

• 3+years of LTC underwriting experience preferred (Standalone or Rider)

• Proficient in using underwriting software and technology platforms

• Advanced critical thinking: Ability to evaluate complex scenarios, assess data from multiple sources and make informed, strategic decisions to optimize outcomes.

• Advanced collaboration and communication skills with an ability to communicate complex issues to diverse stakeholders

• Strong technical skills, including Microsoft Office Suite (Word, Excel, PowerPoint), email management with the ability to quickly learn and adapt to new technologies and systems, general knowledge of innovative tools using AI.

• Long Term Care Professional designation or other Long Term Care Insurance related designatio