[Hiring] Senior Specialist, Financial Accuracy Calculation Team @New York Life

Role Description

The FACT (Financial Accuracy Calculation Team) Sr. Specialist plays an important role in ensuring accurate financial processing and communication within the claims lifecycle. This position is responsible for evaluating and executing routine financial transactions, coordinating with internal and external customers, and maintaining clear documentation to support claims integrity and policy compliance. The ideal candidate is detail-oriented, proactive in communication, and comfortable working in a deadline-driven environment.

• Ownership of accuracy in financial coding and calculations for routine claim transactions.
• SSDI awards and any resulting overpayments.
• Non-complex Basic Monthly earnings calculation.
• Non-complex Return to Work earnings calculations.
• Routine offset coding.
• Overpayment recoveries.
• Engage directly with claimants to initiate repayment discussions, both ongoing and closed claims, to establish repayment plans.
• Work with third-party vendors (e.g., SSDI and subrogation vendors) to coordinate calculation reviews and manage financial recovery efforts related to workers' compensation, motor vehicle accidents (MVAs), and third-party liability.
• Support reviews of claimant bankruptcy filings and assess impact on recovery efforts and financial processing.
• Create clear written and deliver verbal communications to claimants regarding offset placements, overpayments, and repayment arrangements.
• Identify potential financial discrepancies and escalate issues to Technical Associates for further review and resolution.
• Maintain complete and accurate documentation of financial decisions and correspondence in claim files to ensure clear understanding by any reviewer.
• Apply relevant claim policies, procedures, and provisions during all stages of review and processing to ensure compliance and consistency.
• Identification of automation and reporting improvements, with a focus on AI tools.

Qualifications

• Associate degree or above preferred.
• 2+ years of experience in disability claims, insurance operations, or financial processing.
• Understanding of basic financial concepts including benefit calculations, overpayments, and offsets.
• Strong attention to detail and accuracy.
• Strong communication skills (written and verbal), with a customer-centric approach.
• Strong focus on continuous improvement.
• Ability to manage sensitive or confidential information with professionalism and discretion.
• Experience with financial or claims systems (e.g., policy administration, workflow tools) a plus.
• Comfortable working collaboratively in a fast-paced environment.
• Strong time management and organizational skills.

Requirements

• Industry designation (Associate, Customer Service (ACS), Fellow, Life Management Institute (FLMI), etc.).
• Experience with disability insurance products.
• Experience with Admin Suite.
• Familiarity with AI tools.
• Familiarity with SSDI processes, subrogation, and insurance recovery practices.
• Familiarity with payroll and W-2 reporting.
• Proficiency in Microsoft Office Suite (Excel, Outlook, Word).
• Accounting/bookkeeping experience.
• Experience with receivable collections.

Benefits

• Full package of benefits for employees.
• Unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs.
• Continuous refinement and addition of benefits based on employee feedback.