Principal Actuary Life,

4 weeks ago

Albany, New York, United States StateJobsNY Full time

Do you want a career with a purpose that provides work/life balance? Apply today to join the Office of the New York State Comptroller.

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:
Bachelor's degree or higher; AND successful completion of the Society of Actuaries examinations MLC, MFE, and two additional examinations; AND four years of actuarial experience in one or more of the following activities:

  • Actuarial or statistical work for operating units or management.
  • Governmental regulatory actuarial functions; governmental or private pension actuarial functions.
  • Performing actuarial computations for reserves, premium rates, and/or policy forms.

Competitive Minimum Qualifications:


You must be currently reachable on the appropriate eligible list for this title or eligible to transfer under Section 52.6 of the Civil Service Law.



52.6 Transfer:


To be eligible for a 52.6 transfer to a Principal Actuary Life, you must have one year of permanent competitive service in a qualifying title; AND a bachelor's degree or higher; AND successful completion of the Society of Actuaries examinations MLC, MFE, and two additional examinations.

To determine if your current Civil Service title is eligible for transfer to this title, visit the Career Mobility GOT-IT website: Career Mobility Office " GOT-IT )


Appointments via transfer must not result in a second, consecutive transfer with an advancement of more than two S-grades or one M-grade.

Duties Description

  • Fiscal Notes

o Develop fiscal notes and cost estimates fulfilling the role of either primary or checking actuary as determined by higher level actuaries.

o Complete novel fiscal notes that have reference material, recommending methodology where necessary.
o Develop a mastery of Access.
o Develop a mastery of PeopleSoft data and cases. Provide input on revisions to fiscal note policies, as needed.

  • Actuarial Data Aggregation and Year End File Creation

o Develop the annual valuation report, building expertise in the development of the employer billing rates, GASB, and Pension Projections.


  • Publications

o Lead development of actuarial reports and other reports including the actuarial valuation book, the report of the actuary, the ACFR, and DFS insurance reports.

o Additionally, check the three annual state estimates, the items for the annual state bill, and any calculations necessary for ad hoc payments.


  • Actuarial Calculations

o Support calculation of bond refunding, workers compensation offsets, escalation, COLA, structured judgements, and option 4 calculations (including qualified domestic relations orders).


  • Actuarial Assumptions Research

o As directed by the Chief Actuary, perform independent research of outside forces impacting various actuarial assumptions, by conducting in-house studies and reading professional literature, and report findings.

o Support the development of presentations delivered by the Chief Actuary.
o Support the development of the Actuarial Assumptions Report.
o Draft memorandums establishing policies and procedures for actuarial bureau for review by the lead actuary.

Additional Comments Desired Competencies

  • Successful passing score on Enrolled Actuary exams EA-2L and EA-2F for Enrolled Actuary designation
  • Experience computing actuarial equivalence, option factors and annuities according to NYSLRS' laws and policies, including under the terms of a Qualified Domestic Relations Order.
  • Experience reviewing present value calculations and the development of pension liabilities
  • Knowledge of NYSLRS' retirement plans
  • Experience working with large datasets
  • Experience reviewing actuarial reports - like the Comprehensive Annual Financial Report
  • Experience with developing and reviewing SQL scripts
  • Demonstrated history of success passing actuarial exams with an ongoing commitment to become credentialed.
  • Strong computer skills - SQL, Access, Excel
  • Strong computational 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 duties and work performance are aligned with telecommuting they may be allowed to do so.

Upon approval to telecommute, OSC employees may telecommute up to 5 days per pay period.

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

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

Fax

Email Address

Address

Street 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 stating how you meet the above minimum qualifications to , no later than August 22, 2024.

Documents must be sent as unlocked and accessible attachments.

Reference Item #07058-OER- DJH in the subject line of your email and on the cover letter for proper routing.

If you have questions about this vacancy, please contact this Division representative:

Division contact:
Katrina Connelly,

When responding, please include the reference number and letters listed in this section only. The OER ID # should not be included.


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.

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