ACTUARY

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Posting Date: Feb 16, 2024

Location: Remote, any state, US

Company: New York Life Insurance Co

Location Designation: Hybrid - 1 day per quarter 

 

 

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.

 

 

This position is fully remote.

 

Description:

 

The Actuarial Model Architecture and Development (AMAD) team is an industry-leading actuarial model development team. It is responsible for supporting the business areas enterprise wide with their Asset-Liability Modeling (ALM) and other forecasting modeling needs.  AMAD develops and maintains models covering Valuation, Cash Flow Testing, Embedded Value, Stress Testing, RBC, Duration analysis and Economic Capital, Stress Testing.  In addition to supporting the Prophet models, the team engages heavily in with the business units to understand prospective needs and advise on modeling approaches. This role offers interested candidates the opportunity to learn model development and continuous improvement best practices as well as products and methods across every business within New York Life.

 

Responsibilities:

 

Responsibilities for this position place focus on the drive for continuous improvement from an operational perspective.  A sample of the projects the role encompasses, but is not limited to, is as follows:

 

  • Candidate will be a key member of a finance team responsible for modeling, reporting and business analytics.
  • Prophet model conversions and ALS model development based on centralized governance policy.
  • Modeling advanced product features and reinvestment / hedging methods.
  • Build business and corporate functionality into consolidated models enabling enterprise-wide financial reporting and analysis while pursuing operational efficiencies.
  • Work with the business units to understand requested model changes, prioritization, execute test plans, and assist in model acceptance.
  • Implementation of Prophet Enterprise modules to support governance and process automation.
  • Act as a subject matter expert to assist Prophet uses across the company with modeling issues.
  • Document all changes and testing to the models.

 

Qualifications:

 

The AMAD team tests and implements many leading-edge techniques.  We are looking for people with the following skill set:

 

  • Knowledge of actuarial and financial modeling, particularly asset and liability projection modeling using the FIS Prophet actuarial system.
  • At least 5 years of Prophet ALS library development and implementation experience.
  • Experience working within an actuarial enterprise technology environment a plus.
  • Skilled in processing large data and development of efficient complex work process using advanced technology.
  • Understanding of insurance products and the related risks.
  • Excellent relationship building and collaboration skills.
  • A self-starter with strong communication skills.
  • Ability to convey technical concepts to non-technical audience.
  • Ability to organize complex processes, handle multiple tasks, and deal with shifting priorities, all within demanding time schedules.
  • Strong execution and time management skills - ability to move multiple projects along under tight deadlines.
  • Ability to “think outside of the box” and work with leading edge non-traditional actuarial practices.
  • An energetic team player.

 

This position is fully remote.

 

 

 

#LI-VL1
#LI-REMOTE

 

 

 

Salary range: $132,500-$197,500 

Overtime eligible: Exempt 

Discretionary bonus eligible: Yes 

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.

 

 

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 volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. 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.

Job Requisition ID: 89919

 

 

 


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