ACR MLG ALTDEV OVERSHOT DURING DSCNT TO 14000 FT ON AIRWAY.

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CLRED BY CENTER TO DSND FROM 220 TO 14000. DURING DSCNT RECEIVED TFC CALLOUT BY CENTER. TFC APPROX 2 O'CLOCK; 8 MI. REFED TCASII TO GET ADDITIONALLY REF/ALT SEPARATION. DURING THE PERIOD OF LOCATING TFC NEGLECTED TO CALL 1000 ABOVE TO PF. LOCATED TFC AND POINTED IT OUT TO FO WHO WAS PERFORMING THE DSCNT USING AUTOPLT. FO HAD APPROX 50-100 HRS IN ACFT. AFTER CALLING OUT TFC I NOTICED THE ALT WAS APCHING 13800 (CLRED TO 14000). STATED ALT. FO ATTEMPTED TO LEVEL OFF USING AUTOPLT. TOLD HIM TO DISCONNECT AND CORRECT PITCH. HE PUT IN APPROPRIATE CORRECTION BUT WE WERE NOW 500 FT LOW. DURING THE DSCNT FROM 220 I WAS CARRYING ON A CONVERSATION WITH A JUMPSEATER WHO IS A COMPANY PLT ON LEAVE OF ABSENCE TO A FOREIGN CARRIER. I FEEL THAT MY CONVERSATION WITH THE JUMPSEATER COMBINED WITH THE TFC CALLOUT SUFFICIENTLY DISTRACTED BOTH ME AND THE FO LEADING TO AN ALTDEV. ADDITIONALLY; BOTH ME AND THE FO HAVE APPROX 50-100 HRS IN THE ACFT. WE BOTH RECENTLY TRANSITIONED FROM THE HVT INTO THE MLG. I SHOULD HAVE BEEN PAYING MORE ATTN TO THE FO'S ACFT HANDLING BUT WASN'T. I CERTAINLY WILL FROM NOW ON. SUPPLEMENTAL INFO FROM ACN 198063: WE HAD DSNDED THROUGH 17500 FT AND WERE CONTINUING TO 14000 FT WHEN OUR TCASII SYS WENT OFF. BOTH OF US LOOKED OUT FOR THE TFC. THE CAPT THEN ASKED ATC WHERE OUR TFC WAS. WHEN WE SAW THE TFC AND LOOKED AT OUR ALT WE WERE AT 14000 FT. I TOOK THE ACFT OFF AUTOPLT AND LEVELED OFF AT 13600 FT.