Location Designation: Hybrid - 3 days per week
When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.
Position Summary
To supervise and oversee the day-to-day management of existing sponsored marketing agreements as well as being responsible for developing any new sponsored agreements. This position is responsible for ensuring these sponsored agreements continue to fill gaps when NYL products cannot be placed while not competing with NYL products and to maintain the financial viability of each of these agreements.
Major Responsibilities
- Manage the Sponsored Marketing Division which consists of a staff who is responsible for a multitude of agreements ranging from group and individual health, disability income and impaired risk life and annuity products.
- Providing administrative support to our partners, NYL field force, GO management and financial tracking and reporting. Responsible for maintaining a positive bottom-line profit/loss. Traditionally, the Sponsored Marketing programs have realized a positive Net Gain of $1.5 - $2 million per year.
- Responsible for managing the Sponsored Marketing's evaluation, design, and implementation of new sponsored agreements or amending existing agreements as the situation arises while working with OGC and the partner carrier.
- Responsible for the creation of marketing plans, sales promotion programs and materials for each of our sponsored partners.
- Monitor monthly sales results, earned premium, agent commission and NYL service fees reported by sponsored partners and report results to Senior Management.
- Manage and supervise the sponsored carrier and NYL IT to process the monthly commission files and adjustments to properly provide NYL agents with eligible Council Credits for first year commissions earned.
- Responsible for the development and posting of communications to Field Management and Agents via Field News or Agency Portal postings regarding our sponsored programs.
- Act as a direct point of contact, along with the Sponsored Marketing staff, regarding audits from Price Waterhouse, CCD, and any other audits that involve sponsored marketing.
- Act as a resource for NYLIFE Securities' Non-Proprietary Variable Product selling agreements and the products that are offered under these agreements. Manage the Enhanced Access program which determines which Registered Reps have open access to the non-prop products.
Qualifications
- Bachelor's Degree and/or equivalent experience.
- Minimum 5-7 years of relevant experience.
- Comprehensive knowledge of insurance products, especially health insurance, disability income, life, and annuity products.
- Thorough understanding of New York Life field organization and how the General Offices are structured and operate.
- A working knowledge of the Non-Proprietary Variable products that are available to Registered Reps and when Reps can sell them.
- Ability to work with sponsored partners in developing new programs or changes to existing programs.
Salary range: $105,000 - $160,000
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.
Please note: This role requires FINRA licensed and/or FINRA Associated Person pre-hire fingerprinting.
Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.
Job Requisition ID: 90277
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