Location Designation: Hybrid - 3 days per week
Location: New York, New York
Offered Wage: $152,610/year
Duties:
Develops premiums and benefits for new and enhanced insurance and annuity products. Designs new products and product features. Projects profitability generated by company products and prepares financial experience studies. Analyzes matching of assets and liabilities, including developing optimal investment strategy. Quantifies company risk exposure and proposes ways to minimize risk. Assists in the determination of dividend scales and performs actuarial research and statistical analyses. Prices key features for variable annuity products and assesses sensitivity results. Maintains the Prophet model for term insurance and variable annuity products pricing. Conducts annual Valuation of New Business (VNB) for profitability testing for term and variable annuities. Performs equilibrium pricing to solve for the weighted average cost of capital (WACC) for financial reporting. Supports profitability analysis for cap and floor rate changes in Fixed Index Annuities (FIA). Assists managers to conduct regulatory testing, including NGE, DCS, NY4227, and self-supporting tests. Participates in profit testing for the pricing design for whole life and custom whole life insurance. Analyzes the financial impacts of key reinsurance treaties negotiation.
Education & Experience Requirements:
Bachelor's degree in Economics, Finance, Statistics, Mathematics or Actuarial Science (willing to accept foreign education equivalent) plus three (3) years of experience in performing actuarial services for life insurance or annuity products.
Required Certifications & Skills:
• Must possess Associate of the Society of Actuaries (ASA) certification
Experience must include 2 years in each of the following skills:
(1) Performing pricing development and modeling of deferred annuity product liability projections using Prophet, Excel VBA, SQL, and Tableau;
(2) Analyzing data, developing actuarial assumptions, and performing actuarial calculations according to professional Actuarial Standards of Practice (ASOP);
(3) Preparing studies of Whole Life, Term, Fixed Deferred Annuity, Fixed Indexed Annuity, and Variable Annuity products and performing actuarial research and statistical analyses;
(4) Analyzing profitability metrics according to statutory and U.S. GAAP accounting standards; and,
(5) Performing and supporting Non-Guaranteed Element, Disciplined Current Scale, and NY 4228(h) annual state regulatory testing.
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.
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. We invite you to bring your talents to New York Life, so we can continue to help families and businesses "Be Good At Life." To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.
Job Requisition ID: 90328
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.