CORPORATE VICE PRESIDENT & ACTUARY

Job Requisition ID: 90867

Location Designation: Fully Onsite 

Location: 51 Madison Avenue, New York, NY 10010, 5 days per week in-office

Offered salary: $ 194,314.00

Duties: Participates as a member of the Annuity Experience Studies Unit (ESU) responsible for developing all liability assumptions, performing in-depth experience analysis, and providing analytical support to business teams such as Underwriting and Product Development. Works closely with the Data Science team to explore innovative analytical techniques and methodologies. Performs comprehensive and independent analyses for projects spanning all aspects of ESU functions, including monitoring assumption experience, developing new assumptions for multiple products, implementing controls for monitoring and development, determining governance requirements, and generally supporting the Finance business. Contributes to upcoming projects and initiatives requiring actuarial analyses and input, including life in-force and business management strategies. Produces actuarial reports in support of internal governance committees and external regulators. Collaborates with the broader Finance community related to Pricing, Office of Chief Actuary (OCA), and experience studies. Supports the development of new products and product features based on quantitative mathematical models. Provides actuarial insight and identifies deviations from past financial performance projections. Prepares financial and policyholder experience studies leveraging mathematical models and actuarial techniques.

Requirements: Master's degree in Actuarial Science, Mathematics, Statistics or related field (willing to accept foreign education equivalent) plus three (3) years of experience performing study services for life insurance or annuity products.

or,

alternatively, a Bachelor's degree in Actuarial Science, Mathematics, Statistics or related field (willing to accept foreign education equivalent) and five (5) years of experience performing study services for life insurance or annuity products.

Specific skills/other requirements - Experience must include 1 year in all components of each of the following skills: Conducting actuarial experience study analyses for policyholder behavior assumptions and other demographic assumptions, including lapse, benefit utilization, benefit withdrawals, and mortality leveraging knowledge of fixed and variable annuities products, Guarantee Minimum Accumulation Benefit (GMAB), and Guarantee Living Benefit (GLWB) riders and determining how assumptions impact valuation, reserve, and pricing metrics; Designing and creating actuarial experience monitoring capabilities to provide analytical insights into large volumes of experience data leveraging PowerBI and Tableau to organize and visualize analysis results for senior stakeholders; Developing updates to actuarial assumptions and methodologies used in Pricing, Valuation, Projections, and Asset Liability Management (ALM) leveraging advanced SQL to process and extract data, maintain data integrity, and navigate structured and unstructured data using Common Table Expression (CTE); and performing data processing, model construction, and model validation  leveraging Power Query, Power Pivot, macros, Excel add-ins and User Defined Functions (UDF); Creating robust actuarial statistical models leveraging multivariate predictive analytic tools for Generalized Linear Models (GLMs) and result visualization using R and Python to identify risk factors to improve model performance; and Implementing model control standards, managing auditors’ and state compliance requests leveraging knowledge of model change management, enterprise risk management and Sarbanes-Oxley Act (SOX) and Model Audit Rule (MAR) risk control frameworks. Special Skills, License/Certification: Must possess Fellow of the Society of Actuaries (FSA) designation and be a member of the American Academy of Actuaries (MAAA). 

Eligible for employee referral program. 
Apply online at: http://www.newyorklife.com/careers and reference job title.

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Pay Transparency

Overtime eligible: Exempt 

Discretionary bonus eligible: No 

Sales bonus eligible: No 

Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Our Benefits

We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.

Our Diversity Promise

We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.

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. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

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Job Requisition ID: 90867