SENIOR ACTUARIAL ASSOCIATE

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Date: Jan 28, 2019

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.

 

Position:  Senior Actuarial Associate (New York, New York)

Duties: Deliver essential actuarial and financial analytics to support the strategic direction of the Life business. Provide analytical and technical support to meet strategic finance objectives. Perform actuarial modeling for numerous financial reporting and strategic deliverables, in accordance with Statutory and FASB GAAP Accounting frameworks. Utilize Prophet actuarial software to analyze dynamic financial projections of Asset and Liability cash flows generated by the business. Analyze and quantify the financial impacts of changes in biometric and economic assumptions on the business, as well as the impact of potential regulatory changes on the company's solvency position. Perform special projects and other ad-hoc analysis as needed to help senior leaders make decisions on a variety of business initiatives and to help inform corporate strategy. Collaborate with Business Unit stakeholders and work on strategic projects across Finance. Leverage expertise on upcoming changes to financial reporting, valuation, and capital standards that are expected to shape and govern the industry in the future. Value life insurance liabilities on statutory, GAAP and tax bases, and analyze IRC 7702 and 7702A for life insurance policyholder taxation.

Requirements: Bachelor's degree in Actuarial Science, Mathematics or related field (willing to accept foreign education equivalent) plus one year experience performing actuarial modeling for life insurance products and financials. Must possess one year of the following experience: Performing modeling using the FIS Prophet actuarial modeling software. Performing VBA coding to automate calculations and processes; Completing Non-Guaranteed Elements testing by updating PTS pricing models using APL language. Developing and reviewing financial and pricing models, and assets and liabilities to perform audits and analysis of financial results. Developing and reviewing stochastic financial metrics for risk capital, risk budget, and embedded value. Performing moderate stress testing for annuity and long-term care business units. Interfacing with business leaders and technology teams throughout the remediation process to understand calculations and confirm proper implementation. Interfacing with attorneys to ensure proper communication with policy holders. Must have FSA designation.

EOE M/F/D/V

 

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