Senior Actuarial Associate

1 month ago


New York, New York, United States New York Life Insurance Co Full time
Job Requisition ID: 89246

Location Designation: Hybrid - 3 days per week

Employer: New York Life Insurance Company

Job Title: Senior Actuarial Associate

Location: New York, New York

Offered Wage: $160,700.00/year

Duties: Duties: Performs actuarial pricing for Group Benefits Solutions products, including Life, Accident, Long Term Disability, Short Term Disability, and Absence products and services. Works with Underwriters to develop proper rate adjustments based on client risk profiles, special plan designs, and considerations from profitability, market competitiveness, and market strategic recommendations. Performs case-specific risk assessments to develop appropriate premium rates for a given risk to support the market's growth and profitability goals. Develops and maintains group benefit products pricing actuarial models using Excel and VBA and actuarial and statistical analysis tools in Python, R, and SQL. Develops strategic pricing recommendations related to market competition, products, and pricing. Communicates complex technical actuarial topics and analyses to both technical and non-technical audiences.

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 performing actuarial services for 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 group benefit product liability projections;

2) Analyzing data, developing actuarial assumptions, and performing actuarial calculations according to professional Actuarial Standards of Practice (ASOP);

3) Preparing studies of financial experience by performing actuarial research and statistical analyses;

4) Advising Underwriting and Sales stakeholders concerning pricing strategy while utilizing a strong foundational knowledge of Group Benefit Life and Disability products; and,

5) Interacting with Accountants, senior management, Valuation Actuaries, legal, and IT to clarify technical actuarial topics to both technical and non-technical audiences.

Eligible for Employee Referral Program

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.

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

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