Location Designation:
Employer: New York Life Insurance Company
Job Title: Senior Actuarial Associate (Risk Management)
Location: New York, NY
Offered Wage: $169,999.96/year
Duties: Performs risk reporting and calculates key asset and liability management (ALM) risk metrics. Works closely with Investors, Controllers, and ALM
teams for each product to assimilate the necessary data and perform actuarial calculations on the key ALM risk metrics. Monitors real-time asset and liability positions utilizing BlackRock's Aladdin (an industry-leading portfolio and risk management system) and Prophet. Creates and enhances replicating portfolios (RPs) to capture critical characteristics of the liability profile. Assists with regulatory field testing such as International Insurance Capital Standard (ICS) testing. ICS testing is used to determine whether the company has sufficient capital based on International Association of Insurance Supervisors requirements.
Education & Experience Requirements:
Bachelor's degree in Risk Management, Insurance, Actuarial Science or related field (willing to accept foreign education equivalent) and 3 years of experience performing actuarial services for life insurance or annuity products
Required Certifications & Skills:
- Must possess Associate of the Society of Actuaries (ASA) designation
3 years of experience must include:
1) Leveraging Prophet, SQL, Excel, and VBA programming to model life insurance and annuity products and cashflows, manipulate large datasets, and perform actuarial analysis and visualizations;
2) Analyzing data, developing actuarial assumptions, and performing actuarial calculations, sensitivity testing and back-testing according to actuarial principles and practices;
3) Performing actuarial pricing and modeling of assets and liabilities key metrics for life insurance and annuity products; and maintaining pricing, valuation, and regulatory testing models; and,
4) Interfacing with senior management, Investment department, Pricing Actuaries, and Actuarial Modeling teams 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.
Please note: At this time, employees of Group Benefit Solutions can be considered for open positions within Group Benefit Solutions only. Applications from Group Benefit Solutions employees for open positions within other New York Life businesses are unable to be considered.
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.