Actuary- Financial Risk Management

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Date: Nov 22, 2018

Location: New York, NY, US

Company: New York Life Insurance Co

 

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. 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 service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. 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.

 

 

 

Financial Risk Management (FRM), within the Office of Risk Management & Chief Actuary (ORMCA) is responsible for management, monitoring, reporting and oversight of financial risk at NYL on an enterprise level.

 

The Financial Risk Management Solutions (FRMS) team within FRM performs extensive enterprise level financial risk modeling, analyses and reporting.  In addition to performing strategic risk assessments and analysis for senior management to aid in decision support, the team engages heavily in R&D to ensure the implementation of industry leading financial risk management practices at NYL.

 

This role offers the opportunity to learn both traditional and innovative enterprise risk management methods. If you want to work on challenges and solutions that dominate leading-edge enterprise risk management discussion today, and develop skills that will be invaluable tomorrow, this may be the role for you.

 

Responsibilities:

Responsibilities for this position include coverage of assets and liabilities.  A sample of the projects the role encompasses, but is not limited to, is as follows:

  • Stochastic Required Capital - Company Level, Pension Plan and Line of Business
  • Stochastic  @ Risk measures related to Surplus, Embedded Value, and Dividend Availability
  • Proxy modeling, Least Square Monte Carlo, Clustering and other efficiency optimization techniques
  • Stochastic mortality using leading-edge third party risk modeling platforms

    The FRMS team also maintains and continuously improves financial risk measurement, assessment and management capabilities by:

  • Monitoring risk mitigation and hedging programs for financial risks such as interest rate, equity market, credit, capital and mortality / longevity
  • Determining and monitoring key risk metrics, indicators and trends
  • Development and implementation of new financial risk measures
  • Working collaboratively with Business Unit Financial Planning & Analysis, Product Development and Pricing Teams is support of enterprise level risk measures

 

Qualifications

  • MS or undergraduate degree in a quantitative discipline, such as, math, economics, statistics etc. 
  • FSA, MAAA with knowledge of actuarial modeling techniques and insurance products
  • Experience working in risk areas, such as, risk, finance and/or regulation
  • Team-oriented with a strong sense of ownership and accountability
  • Strong leadership, interpersonal and relationship management skills
  • Ability to organize complex processes, handle multiple tasks, and deal with shifting priorities, all within demanding time schedules.
  • Ability to “think outside of the box”
  • An energetic team player

 

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EOE M/F/D/V

 

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