Actuarial Associate

New York Life Insurance Co.; Philadelphia (Philadelphia County); On-site; USD 100,000 - 143,000; Full time

Benefits offered by this job

Leave programs

Adoption assistance

Student loan repayment programs

Job summary

New York Life Insurance Co. seeks an actuarial development program participant in the Philadelphia area. Trainees rotate through roles to build theoretical and practical actuarial experience while pursuing ASA and FSA designations.

The program provides leadership development, broad exposure to product design, reserves, profitability analysis, and risk management with a hybrid work arrangement and comprehensive benefits.

Qualifications

• Bachelor's degree in actuarial science, math, statistics, economics, finance, or related fields.
• Passage of three or more SOA exams required.
• 2+ years of prior full-time actuarial experience.
• GPA 3.0 or higher preferred.
• Strong communication and interpersonal skills.
• Analytically minded with strong decision making abilities.
• Knowledge of modeling packages, programming languages, and spreadsheet/database software.

Responsibilities

• Rotating assignments across actuarial domains.
• Developing premiums and benefits for new or enhanced products.
• Designing new products and product features.
• Monitoring 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 risk management steps.
• Engaging in special projects as assigned.

Skills

Strong communication

Analytical thinking

Decision making

Team oriented

Education

Bachelor's degree in Actuarial Science / Math / Economics / Finance

GPA 3.0 or higher

Tools

Actuarial modeling software

Programming languages

Spreadsheet/database software

Job description

Location Designation

Hybrid - 3 days per week (Tuesday, Wednesday, Thursday in office with option to work at home on Monday, Friday)

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 products
• Designing new products and product features
• Monitoring 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

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
• Strong communication and interpersonal skills
• Analytically minded
• Strong decision making abilities
• Knowledge of modeling packages, programming languages, and spreadsheet/database software

Job Level

LEVELPF3

Pay Transparency

Salary Range: $100,000-$143,000

Overtime eligible: Exempt

Discretionary bonus eligible: Yes

Sales bonus eligible: No

Actual 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 Benefits

We 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.

Our Commitment to Inclusion

At 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.

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: 95165