Job Information
New York Life Insurance Company Actuarial Associate in New York, New York
New York Life Insurance Company seeks Actuarial Associate in New York, NY as part of the company's Life Asset Liability Management (ALM) team, performs quarterly testing related to asset liability management (ALM) metrics, including cash flow testing (CFT), risk-based capital (RBC), embedded value (EV), and durations. Assists with ALM metrics research, analysis, and report preparation and presents ALM reports to senior management. Stays abreast of developments related to ALM models, process, and methodology. Performs analysis and tests required by senior management and regulators. Works on ad hoc ALM-related projects in partnership with the Projection, Model Risk, Assumption Development, and Valuation teams. Creates and maintains clear, relevant, and robust process documentation. Reviews income statements and balance sheets. Develops solutions that contribute to quality improvements and work process efficiency.Requires: Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics (willing to accept foreign education equivalent) plus two (2) years of experience performing actuarial modeling and analysis for health insurance, life insurance or annuity products. Experience must include 2 years in all components each of the following skills: (1) Developing, testing, and maintaining actuarial models, analyzing data, and performing and validating actuarial calculations according to Actuarial Standards of Practice (ASOP) leveraging VBA, Toad for SQL Server, SQL in SAS, and MS Access with SQL; and, leveraging Python or R programming languages; (2) Developing interactive tools leveraging R Shiny, Python, and VBA to perform data and model results visualization and analyses; (3) Documenting and maintaining actuarial models and tools on GitHub to ensure collaborative workflow and version control; and performing project and model management leveraging Jira to create systematic collaboration with Underwriters; (4) Assessing actuarial models, identifying enterprise-level risks, and employing insurance product model resolutions leveraging Excel, VBA, R, and SQL; performing actuarial model runs and Excel regression calculations and writing memoranda and reviews; and, (5) Writing formal insurance regulatory-facing memoranda, communicating pricing recommendations and justifications according to ASOP and state Departments of Insurance requirements to ensure regulatory compliance and successful approval of insurance product rates and rate increases. Must possess: Must have Associate of the Society of Actuaries (ASA) designation and be working toward Fellow of the Society of Actuaries (FSA designation) or recent FSA. Salary: $143,200/year. To apply, visit https://jobs.newyorklife.com/, search job title.
Minimum Salary: 143,200 Maximum Salary: 143,200 Salary Unit: Yearly