Winter 2023 Actuarial Internship Program

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Date: Nov 25, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

Location Designation: Hybrid 

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

 

The Actuarial Internship Program at New York Life is one of the best in the industry.  The program offers competitive compensation and many exciting career development opportunities.  There are currently close to 200 Fellows and Associates of the Society of Actuaries and roughly 90 students with positions in over 10 different areas of the company. 
 
New York Life is headquartered at 51 Madison Avenue, in Manhattan, across from Madison Square Park. Located between the popular Murray Hill and Gramercy Park neighborhoods, it's within walking distance of Grand Central and Penn Stations as well as the Empire State Building, Times Square, and Greenwich Village. Other nearby offices offering actuarial opportunities are in Jersey City, NJ and White Plains, NY.

Job Responsibilities

Internship/Co-Op students are placed throughout the company, working side-by-side with actuaries or senior level actuarial students. Responsibilities are dependent on placement, and may include assisting with:

  • Developing premiums and benefits for insurance and annuity products
  • Designing new products and product features
  • Projecting profitability generated by the company's products
  • Analyzing the ALM profile and developing optimal investment strategy
  • Quantifying the company's risk exposure and proposing ways to minimize risk
  • Performing actuarial research and statistical analyses

 
Interns are treated as full time actuarial students with the ability to participate fully in all training activities including the actuarial mentorship program, monthly student meetings, and an All-Campus Enrichment Day (ACE) to foster a broader knowledge of the company. 

Required Skills

  • Recent graduate or 3rd–4th year college student working towards a Bachelor’s degree with an accredited college or university (preferred majors in Actuarial Science, Mathematics, Statistics, Economics, or Finance)
  • Prefer cumulative GPA of 3.0 or higher
  • Passage of one or more Society of Actuaries exams (working toward ASA/FSA designation)
  • Knowledge of modeling packages, programming languages, and spreadsheet/database software
  • Strong written and oral communication skills
  • Analytically minded with excellent interpersonal skills

Transportation & Housing

Co-Op/Internship students are responsible for their own housing.

Compensation & Benefits Information

Compensation is competitive and based on the number of passed actuarial exams.

 

 

Salary range: $58,500-$85,000 

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.

 

 

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. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 88041

 

 

 


Nearest Major Market: Manhattan
Nearest Secondary Market: New York City

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