Actuarial Associate

New York Life Insurance Company; City of White Plains (NY); Hybrid; USD 60,000 - 80,000; Full time

Job summary

New York Life Insurance Company is seeking an Actuarial Trainee to support both theoretical and practical applications of actuarial science. The role offers opportunities for professional growth and leadership skills through challenging assignments.

Applicants are expected to be in-office Tuesday to Thursday, with work-from-home options on Monday and Friday. The ideal candidate is pursuing ASA or FSA designation and has prior actuarial experience.

Qualifications

• Preferred ASA or near ASA working toward FSA designation.
• Passage of three or more Society of Actuaries Exams required.
• 2 – 5 years of prior full-time actuarial or analytical experience.
• Prefer cumulative GPA of 3.0 or higher.

Responsibilities

• Develops premiums and benefits for 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.
• Quantifies company risk exposure and proposes mitigation.
• Assists in dividend scale determination.
• Performs actuarial research and statistical analyses.
• Performs special projects as assigned.

Skills

Strong communication and interpersonal skills

Analytically minded

Strong decision making abilities

Knowledge of modeling packages

Programming languages

Spreadsheet/database software

Education

Bachelor's degree in Actuarial Science, Mathematics, Statistics, Engineering, Sciences, Economics, or Finance

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

• Preferred ASA or near ASA working toward FSA designation in the Society of Actuaries.
• Passage of three or more Society of Actuaries Exams required.
• 2 – 5 years of prior full-time actuarial or analytical experience.
• 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.
• Knowledge of modeling packages, programming languages, and spreadsheet/database software.