SENIOR ACTUARIAL ASSOCIATE

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Date: Aug 3, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

 

 

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.

 

The Senior Actuarial Associate will be responsible for the validation of actuarial models used by the company. Working with the Model Risk Management team, they will participate in the planning and execution of validations of actuarial models across the company, assist the Model Risk team in implementing its model risk management framework and validation standards, and contribute to the assessment of model risk across the institution.

 

Responsibilities:
• Conduct model validations of the company’s actuarial models based on internal Model Risk Management policies and procedures, actuarial regulatory expectations and industry best practices
• Complete model validation reports, ensuring that they meet the Model Risk Governance standards
• Communicate findings and recommendations to model owners and model users
• Work closely with model owners and model users to understand the models’ use and business applications
• Present findings to Senior Management and Model Risk Committee, as appropriate
• Contribute to building benchmark and test models used by model validation and monitoring
• Contribute to monitoring model validation findings and evaluating remediation actions
• Collaborate with members of Model Risk Governance to ensure that modeling activities follow governance standards as implemented in the company
• Identify and execute on opportunities to improve the efficiency and quality of validation work, including related processes and project management

 

Qualifications:
• MS or undergraduate degree in a quantitative discipline, such as, math, economics, statistics, etc.
• Completion of actuarial exams commensurate with work experience, demonstrating ability to succeed within NYL’s actuarial training program
• Experience in actuarial modeling or validation and life insurance products
• Familiarity with model development and/or model validation
• Team-oriented with a strong sense of ownership and accountability
• Experience in documenting modeling approaches, techniques and validation practices
• Strong project management and business partnering skills

 

Preferred Qualifications:
• Experience working in areas such as risk, finance and/or regulation is a plus
• Experience with actuarial modeling platforms; e.g., Prophet, GGY-axis, etc.

• Knowledge of other coding techniques, such as SAS, MATLAB, S-Plus, R, Python, C++ is a plus

 

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: 87040

 

 

 


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