No exam required under the New York Hiring for Emergency Limited Placement Statewide (NY HELPS) Program.
Non-Competitive Qualifications for appointment under the NYHELPS Program:
For appointment to the Actuary Trainee (equated to SG-13), you must have:
A bachelor's degree including 24 semester credit hours in mathematics, statistics, or actuarial science. To be advanced to the full performance level of this title you must successfully complete one examination of the Society of Actuaries or the Casualty Actuarial Society. Trainees who do not meet this requirement within one year of appointment will have their employment terminated.
For appointment to the Assistant Actuary (full journey level SG-14), you must have:
A bachelor's degree including or supplemented by 24 semester credit hours in mathematics, statistics, and/or actuarial science; AND successful completion of one examination of the Society of Actuaries or Casualty Actuarial Society.
Competitive Minimum Qualifications:
You must be currently reachable on the appropriate eligible list for this title. There are no transfer options for this title.
55-b/c:
This position may be designated 55 b/c and is subject to verification of applicant eligibility.
For more information on this program, please visit the NYS Department of Civil Service website, 55b/c Recruitment Resources Center (ny.gov)
Duties Description • Fiscal Notes and Cost Estimates
o Respond to requests from legislators, unions and municipalities with the cost analysis associated with proposed legislative improvements.
o Work with our Legal department to ensure proper drafting of legislation, prepare the costs and the written correspondence to the requestors.
• Option 4 DRO Retirements
o Perform calculations of custom designed retirement benefit payments where we are required per a Domestic Relations Order.
o Learn how to read the DRO's and calculate the actuarially equivalent benefits as directed in the DRO's.
• Actuarial Publications
o Review the Report of the Actuary and the statistical components of the ACFR.
o Review and develop a mastery of the actuarial valuation report and the annual report on assumptions.
• Municipal Bond Refundings
o Quantify the savings associated with the issuance and refunding of municipal bonds.
o Verify the accuracy of the bond issuer's claims of savings to be achieved by municipalities through these refinancing.
• Section 415 Retirement Cases
o Perform calculations under Section 415 of the Internal Revenue Code to ensure retirement system compliance with federal regulations governing the maximum distributions allowed under a qualified retirement plan.
Additional Comments Knowledge, Skills, and Abilities:
• Quick learner
• Integrity
• Serious minded about work and passing actuarial exams
• Flexible and adaptable to learning new things
• Technological savvy, especially Microsoft Excel and Access
• Written and oral communication skills
Telecommuting:
The Office of the New York State Comptroller (OSC) supports telecommuting where it is reasonable to do so based upon the agency's mission and operational needs. Generally, employees new to OSC will be restricted from telecommuting for at least 8 calendar weeks. After the initial 8 calendar week restriction, if an employee's primary residence location, duties, and work performance are aligned with telecommuting and operational needs they may be allowed to do so. Generally, OSC employees may telecommute up to 5 days per pay period but may be approved to telecommute less.
Reasonable Accommodation:
The NYS Office of the State Comptroller provides reasonable accommodations to applicants with disabilities. If you need reasonable accommodation for any part of the application and hiring process, please notify the Division of Human Resources at (518) 474-1924.
Equal Opportunity Employment:
The Office of the NYS Comptroller values a workforce with a broad, diverse range of backgrounds and perspectives. All employees are expected to contribute to a professional environment focused on self-evaluation and improvement, as well as acceptance and support of coworkers.
Some positions may require additional credentials or a background check to verify your identity.
Name David Heaphy
Telephone (518) 474-1924
Fax (518) 486-6723
Email Address Jobs@osc.ny.gov
Address
Street Office of the State Comptroller, Office of Human Resources
110 State street, 12th Floor
City Albany
State NY
Zip Code 12236
Notes on Applying Submit a clear, concise cover letter and resume to https://www.osc.ny.gov/jobs/openings/assistant-actuary-trainees/092419, no later than September 26, 2024. Unofficial transcripts and/or templates will be required for certain positions. To access this job vacancy, copy the link above and paste it into your web browser. Documents must be sent as unlocked and accessible attachments.
Reference Item #07076-DJH on your cover letter for proper routing.
If you have questions about this vacancy, please contact this Division representative:
Division contact: Katrina Connelly, KConnelly@osc.ny.gov
Be sure to submit an unofficial copy of any transcripts you may have with your cover letter and resume, as there are educational requirements for this position.