Senior Actuarial Associate


Date: Mar 2, 2023

Location: Philadelphia, PA, US

Company: New York Life Insurance Co

Job Requisition ID: 88735

Location Designation:  



Employer: New York Life Insurance Company

Job Title:  Senior Actuarial Associate

Location: Philadelphia, PA

Salary:  $145,000.00/year


Duties: Provides coverage of both sides of the balance sheet, including assets and liabilities. Models stochastic required capital at the company level, pension plan level, and line of business level. Leverages stochastic risk measures related to surplus, embedded value, and dividend availability. Conducts stress testing exercises to assess the company’s risk profile under adverse scenarios. Builds and modifies proxy models using least square Monte Carlo, clustering, and other efficiency optimization techniques.  Serves as the liaison between the Prophet Center of Excellence (PCOE) and Model Staging Teams to ensure that models are adequately maintained, and capabilities are expanded where appropriate. Monitors risk mitigation and hedging programs for financial risks such as interest rate, equity market, credit, capital, and mortality/longevity. Develops, implements, and monitors key financial and risk metrics, indicators, and trends. Works collaboratively with Business Unit Financial Planning & Analysis, Product Development, and Pricing Teams in support of enterprise-level risk measures.


Education & Experience Requirements:

Bachelor's degree in Actuarial Science, Statistics, Mathematics, Economics or related field (willing to accept foreign education equivalent) and three (3) years of experience performing actuarial services for group insurance products


Required Certifications & Skills:


  • Must possess Associate of the Society of Actuaries (ASA) and be working toward Fellow of the Society of Actuaries (FSA) designation or possess recent FSA designation


Experience must include 1 year in each of the following skills:

 (1) Leveraging Excel and VBA to quantify required capital;


 (2) Leveraging R programming to perform clustering routines to reduce stochastic capital run costs;


 (3) Developing and assessing the appropriateness of assumptions used for capital projections;


 (4) Producing financial statements to analyze capital sensitivity with respect to assumptions changes or risk mitigation techniques; and,


 (5) Working collaboratively with internal business units in support of enterprise level risk measures.


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: Philadelphia

Job Segment: Accounting, Actuarial, Equity, Finance, Insurance