Financial Accuracy Calculation Team Technical Associate

Location Designation: Fully Remote
Group Benefit Solutions deliverscomprehensive insurance and absence management solutions for mid-sized and large companies. Our work fosters a healthier, happier, and more secure workforce, contributing to New York Life's legacy of beingthere when we're needed most. Here, you'll design, implement, and support these solutions directly impacting employees' lives. At our core, we provide financial security and peace of mind to people through our absence, accident, disability, voluntary benefits, and life insurance solutions. Click here to learn more about Group Benefits solutions.
Role Overview:
The Financial Accuracy Calculation Team Technical Associate plays a key role in ensuring accurate financial processing, evaluation and communication within the claims lifecycle. This position is responsible for evaluating and exercising independent decision making and judgement for complex disability financial transactions and maintaining clear documentation to support claims integrity and policy compliance. This role will regularly work with internal and external customers and partners, including benefits leadership, account management, clients, customer representatives (attorneys, financial representatives), etc. The ideal candidate displays strong financial acumen and expert knowledge of disability financial calculations, with the ability to translate financial issues simply and clearly in discussions and documentation.
Department:
Financial Accuracy Calculation Team (FACT)
What You'll Do:• Independent ownership of financial coding and calculations for higher complexity claim transactions.• Basic Monthly earnings calculations (e.g. multiple earnings components).• Return to Work earnings calculations requiring complex analysis (e.g. seasonality, pay components/timing, etc.).• Accurate allocation of lump sum awards for offsets.• COLA and other infrequent benefit calculations.• Forensic review of earnings and calculations for accuracy.• Review and application of complex settlements, earnings arrangements, etc.• Detailed recalculations with clear documentation and ability to explain to internal and external parties.• Comparison of tax return information to reported information to confirm accuracy, as necessary.• Maintain complete and accurate documentation of financial calculations and correspondence in claim files to ensure clear understanding by any reviewer.• Clear verbal and written communication with all constituents; claimants, clients, internal and external stakeholders, etc.• Apply relevant claim policies, procedures, and provisions during all stages of review and processing to ensure compliance and consistency.• Independently address self-identified financial discrepancies or escalations from internal customers or within FACT.• Handling claimant negotiations, with the authority to manage hardship requests and reviews, within authority limits.• Partner with subrogation vendors for negotiated settlement discussions, within authority limits.• Strong partnership and regular connection with business areas to identify opportunities for calibration and development of material/tools to address.• Development of training and education focused on timely collection and accurate financial data.• Identify FACT trends and opportunities with development of standard work to address or improve workflows.• Support FACT training for new hires and existing team members.• Identification of and implementation of automation and reporting improvements, with a focus on AI tools.• Focus on continuing industry education/updates and potential impacts to FACT.• Other Duties as Assigned
What You'll Bring:• Associate degree or equivalent work experience.• 3+ years of experience in claims, insurance operations, or financial processing.• Demonstrated understanding of complex financial concepts including benefit calculations, overpayments, and offsets.• Strong financial acumen and attention to detail.• Strong leadership within the team to meet broad FACT goals.• Ability to provide regular feedback and coaching.• Ability to influence and drive continuous improvement.• Excellent communication skills (written and verbal), with a customer-centric approach.• Ability to manage sensitive or confidential information with professionalism and discretion.• Expert at working both independently and collaboratively in a fast-paced environment.• Strong time management and organizational skills.
Preferred Skills:• Bachelor's degree in business, finance, or related field. • Insurance Industry designation (Associate, Customer Service (ACS), Fellow, Life Management Institute (FLMI), etc.).• Experience with disability products.• Experience with Admin Suite.• Experience with AI tools.• Experience with SSDI processes, subrogation, and insurance recovery practices.• Experience with payroll and W-2 reporting.• Proficiency in Microsoft Office Suite (Excel, Outlook, Word).• Accounting/bookkeeping and/or tax/audit experience.• Experience with receivable collections.• Experience with financial or claims systems (e.g., policy administration, workflow tools) a plus.
It is recommended that all qualified candidates apply to this posting as soon as possible. Residents of Colorado are hereby notified that the deadline to apply is two weeks from the Posting Date listed above.
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Pay Transparency
Salary range: $57,000-$90,000
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Actual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.
Actual base salary within that range will be determined by several components including but not limited to the individual's experience, skills, qualifications, and job location.In addition to base salary, employees may also be eligible to participate in an incentive program.
Our Benefits
We provide a full package of benefits for employees - and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.Click hereto discover more about our comprehensive benefit options or visit our NYL Benefits Site.
Our Diversity Promise
We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.
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. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.
Job Requisition ID: 92785
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