CORPORATE VICE PRESIDENT & ACTUARY

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Date: Jul 1, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

Job Requisition ID: 86824

 

 

 

 

 

 

Duties: Responsible for the projection, analysis, and reporting of New York Life's Whole Life and Term product earnings and performance. This involves the projection of investment earnings, mortality and surrender experience, expenses, dividends and taxes on both GAAP (FASBs Generally Accepted Accounting Principles) and Statutory bases. Produces seasonal financial projections that reflect expectations of quarter-to-quarter variations in product, market, and other operating performance. Assists in the development of the Company’s dividend submission, as well as cashflows used by the Investment Strategy, Capital Management, Risk Management, and Tax teams to inform investment projections, liquidity monitoring, tax projections, and in overall risk and capital management. Incorporates information from the Pricing, Sales, Investment Strategy, Valuation, and Budgeting teams to develop projections. Leverages Prophet, SQL, Tableau, VBA, R, Excel, and Access to decompose large datasets, identify relationships and trends, and generate insights from these components to project them forward, as well as to create efficient processes that facilitate periodic reporting. Produces memoranda for distribution to senior management and presents them at quarterly and year-end reporting meetings. This involves explaining the source of observed variances between actual experience and what was planned, which requires an understanding of drivers of investment income, death and surrender claims, reinsurance, expenses and taxes. Implements improvements to the projection model, validated algorithms, and trains teammates on its use and "best practices."

 

Education & Experience Requirements: 

Bachelor's degree in Economics, Finance, Statistics, Mathematics, 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 Special Skills:

Must have Fellow of the Society of Actuaries (FSA) designation.

 

Experience must include 2 years in each of the following skills:

  1. Using Prophet, Tableau, SQL, Excel, and VBA programming to model life insurance products and cashflows, manipulate large datasets, and perform actuarial analysis and visualizations;

               

  1. Analyzing data, developing actuarial assumptions, and performing actuarial calculations according to professional Actuarial Standards of Practice (ASOP);

               

  1. Performing actuarial pricing and modeling of liabilities for Whole Life, Term, Variable Universal Life and, Universal Life products; and maintaining pricing, valuation, and regulatory testing models;

 

  1. Analyzing income statements, source of earnings, and profitability metrics according to  Statutory and U.S. GAAP accounting standards; and,

 

  1. Interacting with senior management, Product Managers, Valuation Actuaries, Legal, and IT to clarify technical actuarial topics to both technical and non-technical audiences.

 

 

 

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: 86824

 

 

 


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Nearest Secondary Market: New York City

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