Location Designation: Hybrid - 3 days per week
Job Title: Actuarial Associate
Location: New York, NY
Offered Wage: $145,300.22/year
Duties: As part of the Life Asset Liability Management (ALM) team, performs quarterly testing related to ALM metrics, including cash flow testing, duration, and embedded value. Assists with research, analysis, and preparation of reports of ALM metrics and present ALM reports to senior management. Keeps abreast of developments related to ALM models, process, and methodology. Conducts analysis and testing required by senior management and regulators. Works on ad hoc ALM-related projects in partnership with the Projection, Model Risk, Assumption Development, and Valuation teams. Develops solutions that contribute to quality improvements and work process effectiveness. Creates and maintains clear, relevant, and robust process documentation.
Education & Experience Requirements:
Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics (willing to accept foreign education equivalent) plus two (2) years of experience in performing actuarial modeling and analysis for life insurance or annuity products.
Required Certifications & Skills:
- Must have Associate of the Society of Actuaries (ASA) designation and be working toward Fellow of the Society of Actuaries (FSA designation) or recent FSA
Experience must include 2 years in each of the following skills:
- Developing, testing and maintaining actuarial models leveraging Prophet, AXIS, or VP/MS actuarial modeling packages;
- Analyzing data and performing and validating actuarial calculations according to professional Actuarial Standards of Practice (ASOP) leveraging VBA, SQL, Python or R programming languages;
- Performing actuarial calculations and testing and validating dividend options and dividend liabilities for insurance products within actuarial models leveraging Prophet, AXIS, or VP/MS actuarial modeling packages; and,
- Assessing actuarial models, identifying enterprise-level risks, and employing resolutions relative to insurance product models, including actuarial model runs, Excel regression calculations, and writing memoranda and reviews.
Eligible for Employee Referral Program.
This notice is being provided as a result of the filing of an application for permanent alien labor certification for the relevant job opportunity. Any person may provide documentary evidence bearing on the application to the Certifying Officer, U.S. Department of Labor, Employment and Training Administration, Office of Foreign Labor Certification, 200 Constitution Avenue NW, Room N-5311, Washington, DC 20210.
Overtime eligible: Exempt
Discretionary bonus eligible: No
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.
Working at
New York Life Insurance Co
New York Life Insurance Company is a highly respected and renowned insurance provider with a rich history that spans over 175 years. As one of the largest mutual life insurance companies in the United States, New York Life is committed to helping individuals and families secure their financial futures. As an actuary at New York Life Insurance Company, you'll be part of a distinguished team that plays a vital role in assessing and managing risks. Actuaries at New York Life utilize their expertise in statistical analysis, risk assessment, and financial modeling to evaluate risks, develop pricing strategies, and ensure the financial stability of the company's insurance offerings. Collaborating with cross-functional teams, actuaries at New York Life provide valuable insights that inform strategic decision-making. Actuaries analyze complex data, forecast trends, and develop innovative solutions that meet the evolving needs of customers while maintaining the company's financial strength. New York Life values professional growth and provides actuaries with ongoing training and development opportunities. Actuaries can enhance their skills, stay at the forefront of industry advancements, and contribute to the company's continued success. Join New York Life Insurance Company's esteemed actuarial team and embark on a rewarding career where you can apply your actuarial expertise, make a meaningful impact on securing individuals' financial futures, and enjoy competitive benefits in a supportive work environment.