Senior Actuarial Associate, Life Projections

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Date: May 9, 2023

Location: New York, NY, US

Company: New York Life Insurance Co

Job Requisition ID: 88990

Location Designation:  

 

 

Employer: New York Life Insurance Company

Job Title:  Senior Actuarial Associate, Life Projections

Location: This position reports to the NY Life headquarters in New York, NY.  Applicants may work from a home office within a commutable distance of New York, NY.

Offered Wage: $145,330/year

 

Duties: Sets Management Statutory (MSTAT) Earnings and Statutory (STAT) Free Surplus financial plans for the year as well as seasonalized versions for each quarter. Performs quarterly Source of Earnings and Variance analysis on MSTAT and STAT financials. Monitors new business activity, assumption changes, and emerging accounting standards that affect the Retail Life line of business. Collaborates with the Finance Service Organization (FSO) to analyze actuarial liabilities and assets such as reserves and Deferred Acquisition Cost (DAC). Performs deep data analysis on mortality claims, lapse, investment, expense, and tax trends using Tableau Data Hub, SAP ledger, and other resources. Collaborates with the Financial Planning and Analytics (FP&A) team to produce quarterly business reviews, planning decks, all corporate earnings plans, and actual MSTAT and STAT deliverables and presents plan-related materials to senior leaders. Analyzes actual financial results and understands the limitations and accuracies of actuarial models.

 

Education & Experience Requirements:

Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance or Economics (willing to accept foreign education equivalent) and 3 years of experience performing actuarial services for life insurance or annuity products

 

Required Certifications & Skills:

 

  • Must have passed all 6 exams required for Associate of the Society of Actuaries (ASA) certification

 

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

 

    1)  Modeling life insurance products and cash flows, manipulating large datasets, and performing actuarial analysis and visualizations leveraging Prophet, SQL, Excel, and VBA programming;

 

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

 

    3) Performing actuarial liabilities pricing and modeling for Whole Life, Term, Variable Universal Life or Universal Life products, and maintaining pricing and regulatory testing models;

 

    4) Analyzing income statements, source of earnings, and profitability metrics according to statutory accounting standards; and,

 

    5)    Interfacing with, senior management, Product Managers, Valuation Actuaries, Pricing Actuaries, Experience Studies Actuaries, and IT to clarify technical actuarial topics to both technical and non-technical audiences.

 

Eligible for Employee Referral Program

 

 

Overtime eligible: Exempt 

Discretionary bonus eligible: No 

Sales bonus eligible: No 

 

Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.

 

Please note: At this time, employees of Group Benefit Solutions can be considered for open positions within Group Benefit Solutions only. Applications from Group Benefit Solutions employees for open positions within other New York Life businesses are unable to be considered.  

 

 


Nearest Major Market: Manhattan
Nearest Secondary Market: New York City

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