Actuarial Assistant

New York Life Insurance Company; New York (NY); Hybrid; USD 65,000 - 90,000; Full time

Job summary

Blackactuaries in New York offers an actuarial trainee program that blends theoretical and practical actuarial work with rotating assignments and strong support toward actuarial exams. Trainees are in the office Tuesday to Thursday, with Monday and Friday designated as work-at-home days.

The program covers premiums and benefits, product design, profitability, financial experience studies, asset-liability analysis, and risk minimization. It also includes actuarial research and special projects.

Qualifications

• Bachelor's degree in actuarial science or related field
• GPA 3.0 or higher preferred
• Strong communication and analytical skills
• Passage of two or more SOA exams preferred
• Knowledge of modeling packages, programming languages, and spreadsheet/database software

Responsibilities

• Develops premiums and benefits for new and enhanced insurance and annuity products
• Designs new products and product features
• Projects profitability generated by Company’s products
• Prepares studies of financial experience
• Analyzes matching of assets and liabilities including developing optimal investment strategy
• Quantifies company risk exposure and proposes ways to minimize risk
• Assists in the determination of dividend scales
• Performs actuarial research and statistical analyses
• Performs special projects as assigned

Skills

Communication

Interpersonal skills

Analytical thinking

Decision making

SOA exams progress

Education

Bachelor's degree

Tools

Modeling packages

Programming languages

Spreadsheet software

Database software

Job description

Job Description

We provide our actuarial trainees with a broad background in both the theoretical and practical applications of actuarial science by combining challenging rotating job assignments and significant support towards the completion of the actuarial exams. We also provide significant opportunities to improve business and leadership skills that will enable advancement through the company and prove valuable throughout one's career. Employees in the program are expected to be in the office from Tuesday to Thursday with Monday and Friday designated as work at home days.

• Develops premiums and benefits for new and enhanced insurance and annuity products.
• Designs new products and product features.
• Projects profitability generated by Company’s products.
• Prepares studies of financial experience.
• Analyzes matching of assets and liabilities including developing optimal investment strategy.
• Quantifies company risk exposure and proposes ways to minimize risk
• Assists in the determination of dividend scales.
• Performs actuarial research and statistical analyses.
• Performs special projects as assigned.

Job Requirements

• Prefer cumulative GPA of 3.0 or higher.
• Bachelor's degree with preferred majors in Actuarial Science, Mathematics, Statistics, Engineering, Sciences, Economics, or Finance
• Strong communication and interpersonal skills
• Analytically minded
• Strong decision making abilities
• Prefer passage of two or more Society of Actuaries exams (working toward ASA/FSA designation in the Society of Actuaries)
• Prefer knowledge of modeling packages, programming languages, and spreadsheet/database software