Location Designation: Fully Onsite
Location: Fully In-Office, 51 Madison Avenue, New York New York 10010
Offered salary: $234,999.00
Vice President & Actuary, Office of Chief Actuary for New York Life Insurance Company in New York, NY, to lead the asset liability management (ALM) and valuation teams for the company's Retail and Institutional Annuities business. Supports continuous improvement activities concerning standardizing and automating Annuities processes. Advises on Annuity product development and pricing initiatives pertaining to ALM and valuation implementation. Provides strategic input to the Annuity business concerning the regulatory asset adequacy implications of its investment activities. Leads the implementation and field testing of upcoming regulatory developments related to Annuity reserve and capital requirements.
Requires: Master's degree in Actuarial Science, Mathematics, Economics or related field (willing to accept foreign education equivalent) plus three (3) years of experience providing pricing, capital management, reserving, and asset liability management actuarial services for life insurance and annuity products
or,
alternatively, Bachelor's degree in Actuarial Science, Mathematics, Economics or related field (willing to accept foreign education equivalent) and five (5) years of experience providing pricing, capital management, reserving, and asset liability management actuarial services for life insurance and annuity products.
Experience must include 3 years in each of the following skills: Preparing retail and institutional annuities metrics on embedded value, duration, stress testing, and regulatory reporting for dividend paying and non-dividend paying annuity products in accordance with the dividend formula, deferred dividend liability methodology, stochastic- required capital construct, and management reporting standards; and performing attribution analysis to explain the movement of these metrics and associated financial statements; providing governance and pricing oversight for liability assumptions to ensure product profitability meets minimum equilibrium pricing targets leveraging SharePoint; designing, implementing, and reviewing actuarial models to support financial analysis, assumption testing, and regulatory requirements leveraging Prophet and AXIS actuarial software; and managing ALM model risk and valuation models leveraging the model change management cycle to ensure compliance with established model risk management protocols. Must possess Fellow of the Society of Actuaries (FSA) certificate.
Eligible for Employee Referral Program.
Apply online at: http://www.newyorklife.com/careers and reference job title.
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Pay Transparency
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: 91214
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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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.