SIU Analyst/Risk Management

This position is hybrid - Tuesday - Thursday in the New York or Tampa Office and Monday and Friday work from home.

Business Overview:

As part of Risk Management, you'll play a pivotal role in safeguarding New York Life's strategic goals. By analyzing and mitigating potential risks, you contribute to three crucial areas: strengthening the company's defenses, informing sound business decisions, and advancing risk capabilities across the organization. Your expertise empowers informed risk-taking, fostering sustainable growth and protecting the financial security of millions of policy owners.

Role Overview:

The SIU Fraud Analyst is responsible for working with SIU investigators to detect, investigate, and prevent fraudulent activities within the company. This role involves the initial review and triage of potentially fraudulent activities, analyzing data, prioritizing cases, preparing them for further investigation, and producing detailed reports on findings and trends. The ideal candidate will possess strong analytical skills, attention to detail, and a background in fraud detection.

What You'll Do:

• Conduct initial reviews of flagged cases to assess the likelihood of fraud.
• Gather preliminary evidence and documentation to support the initial assessment.
• Conduct internal and external database searches as part of the investigative process.
• Prepare detailed summaries and case files for investigators, ensuring they have all necessary information to conduct a thorough investigation.
• Perform data analysis to identify trends, patterns, and anomalies related to fraudulent activities.
• Produce detailed analytical reports on fraud trends, risk factors, and potential vulnerabilities.
• Identify patterns and trends in fraudulent activities to inform prevention strategies.
• Work closely with internal departments, such as claims, underwriting, and service, to gather additional information and context for cases.
• Coordinate with the SIU investigation team to ensure a smooth handoff of cases.
• Ensure all documentation is compliant with legal and regulatory requirements.
• Document the SIU Case Management System with daily investigative activity.
• Recommend improvements to policies, procedures, and controls based on findings from the triage and data analysis process.
• Assist with company-wide fraud awareness training, including developing training materials, scheduling sessions and maintaining records and reports.
• Stay updated on the latest fraud trends, techniques, and regulatory changes by interacting with industry associations.
• Participate in professional development opportunities, such as training sessions and industry conferences.

What You'll Bring:

• Bachelor’s degree in Criminal Justice, Finance, or a related field preferred
• Minimum 3-5 years of relevant work experience (Life Insurance/ Fraud Investigations/Law Enforcement preferred)
• Ability to build relationships quickly
• Strong analytical, assessment, and data analysis skills
• Strong written and verbal communication skills 
• Proficiency in using fraud detection software, data analysis tools, and reporting tools; Tableau experience a plus
• Proficient in Microsoft Office Suite
• Ability to work independently and as part of a team
• High level of integrity and ethical standards