Corporate Vice President-Disability Valuation Actuary

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Date: Jan 10, 2021

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.

 

The newly created Individual Disability Insurance (IDI) department is looking for a motivated individual to help launch a new suite of disability products. As one of the first members of the IDI team, you will have the unique opportunity to help start a new business at New York Life. This position will work with individuals across business functions (e.g., product management, marketing, compliance, agency) and finance functions (e.g., accounting, corporate actuarial) as well as with New York Life’s partners (e.g., reinsurer, third-party administrator) on the development of a valuation platform and calculation of reserves and other financial reporting requirements of the IDI product line. This role requires excellent actuarial skills, decision-making ability, the ability to work autonomously and collaborate effectively across the Company.

 

Responsibilities will include:

 

  • Development and maintenance of valuation models and related tools, leading efforts to build STAT and M-STAT reporting functionality
  • Valuation assumption setting and maintenance of appropriate assumptions as experience emerges
  • Calculation of active life and disabled life reserves, along with establishment of procedures to establish other reserves such as incurred but not reported (IBNR) reserves
  • Working with the product and pricing team, to develop a valuation model based on the initial pricing model
  • Working closely with Finance and third-party administrator to ensure required reserve information is accurate and can be incorporated into the valuation model
  • Assist with the creation of management reports, and generation of insights on subjects such as morbidity, lapse, and asset performance
  • Collaborating with Finance, CFO, and Controller to understand the drivers of earnings and emerging trends
  • Partner with the pricing team to begin development of experience studies

 

Preferred Experience and Candidate Qualities

 

  • Familiarity with Statutory and GAAP accounting concepts
  • Morbidity valuation experience preferred (IDI, LTC, or group disability)
  • Experience with Prophet a plus
  • Strong business partnering and communications skills
  • Excellent project management skills, including ability to manage multiple complex priorities simultaneously and meet demanding deadlines
  • Ability to work independently and to research solutions and best practices
  • Professional integrity
  • Be passionate about work with dedication and determination to be the tomorrow’s senior actuarial leader at NYL

EOE M/F/D/V

 

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Job Requisition ID: 82946 


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