Role Overview:
We are seeking an experienced and strategic Corporate Vice President & Actuary, PRT Pricing to lead the pricing and risk assessment of our Pension Risk Transfer (PRT) business. This role will oversee the development of pricing models, ensure competitive yet profitable pricing strategies, and collaborate with key stakeholders, including underwriting, investments, corporate finance, and the PRT business teams.
As the Pension Risk Transfer Pricing Actuary, your primary responsibility will be to provide plan specific pricing on pension risk transfer transactions. You will provide underwriting notes, generate the preliminary and final quotes for the business team, and facilitate installation with the operations team. You will also support the business on new product initiatives and data-driven insights to the competitive landscape. The ideal candidate has deep knowledge of pension contracts and the PRT market and a strong understanding of pension liabilities. They excel at business partnering, collaborating closely with cross-functional teams to develop strategic pricing solutions and effectively communicating complex actuarial concepts, aligning stakeholders to drive success.
What You'll Do:
Major Responsibilities:
• Lead the development and execution of pricing strategies for PRT transactions, including improved competitiveness and expanding the market
• Conduct experience studies and ensure assumptions are market-competitive and financially sound
• Develop enhanced analytics to support strategic decision making and business growth initiatives
• Provide thought leadership on market trends, competitive positioning, and regulatory changes impacting PRT pricing to be an effective strategic business partner
What You'll Bring:
Required Skills:
• FSA with 10+ years overall experience and 5+ years of experience in Pension Risk Transfer
• Strong analytical skills and willingness to dive into model/assumption/product details
• Advanced proficiency in actuarial modeling software (Prophet preferred) and Excel-based pricing models
• Excellent interpersonal and business partnering skills, with the ability to collaborate effectively across organizations and influence cross-functional decision-making
• Solid understanding of asset-liability projections and the impacts of investment strategy and ALM on product profitability and risk profile
Preferred Skills:
• Experience working with investment teams on asset allocation strategies for PRT transactions
• Experience managing a team of students and/or FSA
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Pay Transparency
Salary Range: $122,500-$210,000
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
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: 91680
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.
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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.