Senior Actuarial Associate

Job Requisition ID: 89246

Location Designation: Hybrid - 3 days per week 

Employer: New York Life Insurance Company

Job Title:  Senior Actuarial Associate

Location: New York, New York

Offered Wage: $160,700.00/year

Duties: Duties: Performs actuarial pricing for Group Benefits Solutions products, including Life, Accident, Long Term Disability, Short Term Disability, and Absence products and services. Works with Underwriters to develop proper rate adjustments based on client risk profiles, special plan designs, and considerations from profitability, market competitiveness, and market strategic recommendations. Performs case-specific risk assessments to develop appropriate premium rates for a given risk to support the market’s growth and profitability goals. Develops and maintains group benefit products pricing actuarial models using Excel and VBA and actuarial and statistical analysis tools in Python, R, and SQL. Develops strategic pricing recommendations related to market competition, products, and pricing. Communicates complex technical actuarial topics and analyses to both technical and non-technical audiences.

Education & Experience Requirements:

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

Required Certifications & Skills:

• Must possess Associate of the Society of Actuaries (ASA) certification

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

     1) Performing pricing development and modeling of group benefit product liability projections;

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

     3) Preparing studies of financial experience by performing actuarial research and statistical analyses;

     4) Advising Underwriting and Sales stakeholders concerning pricing strategy while utilizing a strong foundational knowledge of Group Benefit Life and Disability products; and,

     5) Interacting with Accountants, senior management, Valuation Actuaries, legal, 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.