Senior Actuarial Associate

Location Designation:  

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.

Employer: New York Life Insurance Company

Job Title:  Senior Actuarial Associate

Location: Philadelphia, PA

Duties: Develops and enhances actuarial models to calculate and project the financials, which indirectly helps to report profitability generated by insurance products.  Provides actuarial insight into deviations from past projections of financial performance. Prepares studies related to financial experience and support assumption development for insurance products. Quantifies company risk exposure and proposes ways to minimize risk. Monitors compliance with life insurance regulations. Assists with regulatory filings of life insurance products.

Education & Experience Requirements:

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

Salary: 

$134,534.00/year

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) Using SQL, Excel, and VBA programming to model life insurance products and cash flows, manipulate large datasets, and perform actuarial analysis and visualizations;

    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) Analyzing profitability metrics according to statutory and U.S. GAAP accounting standards; 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.

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.