Location Designation:
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.
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.