2024 Actuarial Summer Internship Program

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.

New York Life’s Summer Internship Program for Summer 2024 is a structured, 12-week program starting in late May and ending in August.

Our actuarial internship provides:

• Challenging assignments and practical on the job experience
• Professional development in the form of classes (actuarial modeling software, VBA/Excel)
• Weekly lecture series that offers exposure to different actuarial roles
• An opportunity to meet NYL professionals and NYL actuaries including those in senior management
• An opportunity to present to an actuarial audience
• Breakfast and lunch with NYL’s Chief Actuary and other senior actuaries at the company
• Attendance at all full-time actuarial student meetings and training sessions
• Individual meeting with an Executive actuary
• A Mentorship Program
• Prospect of securing a full-time position with New York Life
• Sponsored social events
• Participation in group volunteer event(s)

Positions are available in our NYC office, White Plains, NY office and Philadelphia office with fully subsidized housing provided for all locations.

Actuaries at New York Life are actively involved in many aspects of the company’s operations, including the design and pricing of products, the evaluation of the company’s financial results, and setting the strategic vision of the company. They have earned the respect of both their fellow employees and of our agency force.

We provide our actuarial interns with challenging actuarial projects to expose them to the theoretical and practical applications of actuarial science.

Learn more about our internship program here:

https://www.newyorklife.com/careers/corporate/internships/actuarial

Job Responsibilities:

A summer intern’s job responsibilities are dependent on placement, and may include assisting with:

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

 
Required Qualifications:

• In junior or senior year, or a recent college graduate, working towards a Bachelor’s degree with an accredited college or university (preferred majors in Actuarial Science, Mathematics, Statistics, Engineering, Sciences, 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)
• Strong written and oral communication, and strong interpersonal skills
• Analytically minded
• Prefer knowledge of modeling packages, programming languages, and spreadsheet/database software

Applications will be reviewed on a rolling basis and interviews will begin mid-September.

#nylcampus

Salary range: $28 - $33 / hour 

Overtime eligible: Nonexempt 

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: 89287