ACTUARIAL ASSOCIATE

New-York-Life; New York (NY); Hybrid; USD 100,000 - 143,000; Full time

Job summary

New York Life is seeking actuary trainees for a development program in New York, offering broad exposure to theoretical and practical actuarial work. Rotations cover product design, pricing, reserves, and risk management, with support toward actuarial exams and leadership growth.

Roles involve collaboration across teams, exposure to premium development, profitability analysis, and reporting. Hybrid work arrangement is available (3 days on-site per week) to balance learning and collaboration.

Qualifications

• Preferred near ASA with intention to work towards FSA designation in the Society of Actuaries.
• Passage of three or more Society of Actuaries Exams required.
• 2+ years of prior full-time actuarial experience.
• Bachelor's degree with preferred majors in Actuarial Science, Computer Science, Data Science, Mathematics, Statistics, Engineering, Economics, or Finance.
• Prefer cumulative GPA of 3.0 or higher.

Responsibilities

• Develop premiums and benefits for new and enhanced insurance and annuity products.
• Design new products and product features.
• Monitor experience and developing modeling assumptions.
• Calculating reserves and reporting actuarial balances.
• Projecting product profitability and analyzing drivers of financial performance.
• Quantifying risk exposure and proposing ways to manage risk.
• Special projects as assigned.

Skills

Communication skills

Interpersonal skills

Analytical thinking

Decision making

Education

Bachelor's degree in Actuarial Science

Tools

Modeling packages

Programming languages

Spreadsheet & databases

Job description

Job DescriptionRequisition ID94463DepartmentCorporate FinanceJob FunctionCorporate FinanceLocationNew York,New York,United StatesRole Location DesignationHybrid - 3 days per weekLocation Designation: Hybrid - 3 days per weekWhen 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.Role Overview:This role is part of the actuarial development program. We provide our actuarial trainees with a broad background in both theoretical and practical applications of actuarial science by combining rotating job assignments with support towards the completion of the actuarial exams. We also provide significant opportunities to improve business and leadership skills that enable advancement through the company and prove valuable throughout one's career.Potential rotation placements may include responsibilities such as:• Developing premiums and benefits for new and enhanced insurance and annuity products• Designing new products and product features• Monitoring experience and developing modeling assumptionsCalculating reserves and reporting actuarial balancesProjecting product profitability and analyzing drivers of financial performance• Quantifying risk exposure and proposing ways to manage risk• Special projects as assignedQualifications:Preferred near ASA with intention to work towards FSA designation in the Society of ActuariesPassage of three or more Society of Actuaries Exams required2+ years of prior full-time actuarial experienceBachelor's degree with preferred majors in Actuarial Science, Computer Science, Data Science, Mathematics, Statistics, Engineering, Economics, or FinancePrefer cumulative GPA of 3.0 or higherStrong communication and interpersonal skillsAnalytically mindedStrong decision making abilitiesKnowledge of modeling packages, programming languages, and spreadsheet/database softwareJob Level: LEVELPF3Pay TransparencySalary Range: $100,000-$143,000Overtime eligible: ExemptDiscretionary bonus eligible: YesSales bonus eligible: NoActual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.Our BenefitsWe provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.Our Commitment to InclusionAt New York Life, fostering an inclusive workplace is fundamental to who we are and how we serve our communities. We have a longstanding commitment to creating an environment where individuals can contribute their best and succeed together. This foundation is rooted in our core values of humanity and integrity, ensuring that every employee feels valued and supported. By embracing a broad range of perspectives and experiences, we achieve greater success and fulfill our promise of providing financial security and peace of mind to families across all communities. Click here to learn more about New York Life’s leadership in this space.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. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.Job Requisition ID: 94463#LI-MW1Read More