Location Designation: Fully Onsite
Location: 51 Madison Avenue, New York, NY 10010, 5 days per week in-office
Offered salary: $ 194,314.00
Duties: Participates as a member of the Annuity Experience Studies Unit (ESU) responsible for developing all liability assumptions, performing in-depth experience analysis, and providing analytical support to business teams such as Underwriting and Product Development. Works closely with the Data Science team to explore innovative analytical techniques and methodologies. Performs comprehensive and independent analyses for projects spanning all aspects of ESU functions, including monitoring assumption experience, developing new assumptions for multiple products, implementing controls for monitoring and development, determining governance requirements, and generally supporting the Finance business. Contributes to upcoming projects and initiatives requiring actuarial analyses and input, including life in-force and business management strategies. Produces actuarial reports in support of internal governance committees and external regulators. Collaborates with the broader Finance community related to Pricing, Office of Chief Actuary (OCA), and experience studies. Supports the development of new products and product features based on quantitative mathematical models. Provides actuarial insight and identifies deviations from past financial performance projections. Prepares financial and policyholder experience studies leveraging mathematical models and actuarial techniques.
Requirements: Master's degree in Actuarial Science, Mathematics, Statistics or related field (willing to accept foreign education equivalent) plus three (3) years of experience performing study services for life insurance or annuity products.
or,
alternatively, a Bachelor's degree in Actuarial Science, Mathematics, Statistics or related field (willing to accept foreign education equivalent) and five (5) years of experience performing study services for life insurance or annuity products.
Specific skills/other requirements - Experience must include 1 year in all components of each of the following skills: Conducting actuarial experience study analyses for policyholder behavior assumptions and other demographic assumptions, including lapse, benefit utilization, benefit withdrawals, and mortality leveraging knowledge of fixed and variable annuities products, Guarantee Minimum Accumulation Benefit (GMAB), and Guarantee Living Benefit (GLWB) riders and determining how assumptions impact valuation, reserve, and pricing metrics; Designing and creating actuarial experience monitoring capabilities to provide analytical insights into large volumes of experience data leveraging PowerBI and Tableau to organize and visualize analysis results for senior stakeholders; Developing updates to actuarial assumptions and methodologies used in Pricing, Valuation, Projections, and Asset Liability Management (ALM) leveraging advanced SQL to process and extract data, maintain data integrity, and navigate structured and unstructured data using Common Table Expression (CTE); and performing data processing, model construction, and model validation leveraging Power Query, Power Pivot, macros, Excel add-ins and User Defined Functions (UDF); Creating robust actuarial statistical models leveraging multivariate predictive analytic tools for Generalized Linear Models (GLMs) and result visualization using R and Python to identify risk factors to improve model performance; and Implementing model control standards, managing auditors' and state compliance requests leveraging knowledge of model change management, enterprise risk management and Sarbanes-Oxley Act (SOX) and Model Audit Rule (MAR) risk control frameworks. Special Skills, License/Certification: Must possess Fellow of the Society of Actuaries (FSA) designation and be a member of the American Academy of Actuaries (MAAA).
Eligible for employee referral program.
Apply online at: http://www.newyorklife.com/careers and reference job title.
Pay Transparency
Overtime eligible: Exempt
Discretionary bonus eligible: No
Sales bonus eligible: No
Actual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.
Our Benefits
We provide a full package of benefits for employees - and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.Click hereto discover more about our comprehensive benefit options or visit our NYL Benefits Site.
Our Diversity Promise
We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.
Recognized as one of Fortune's World's Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.
Job Requisition ID: 90867
About NY Life Insurance Company
Diversity & Humanity-two values that are deeply rooted in the New York Life culture and have laid the foundation for over 175 years of commitment to our employees, agents, policy owners, and the communities where we live and work. At New York Life you become a valued part of a welcoming, inclusive, and caring culture that has a long-standing legacy in stability and growth. The strength of New York Life revolves around our diversified, multi-dimensional business portfolio that goes beyond life insurance, and we want you to be a part of our legacy.
As a Fortune 100 company and industry leader, we provide an environment where you can explore your career ambitions, offering opportunities to tackle meaningful challenges and stretch your skills while balancing work and life priorities. You will be part of a diverse team guided by our belief to always be there for each other-providing the support and flexibility to grow and reach new heights while making an impact in the lives of others.
You are our future, and we commit to investing in you accordingly.
Visit our Linkedin to see how our employees and agents are leading the industry and impacting communities.
Visit our Newsroom to learn more about how our company is constantly evolving to meet our clients' and employees' needs.
Required Legal Notices - All Candidates Please Click Here
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.