Assistant Actuary, SG-14

New York State Department of Financial Services; Albany (OR); On-site; USD 53,864 - 68,630; Full time

Job summary

A state financial regulatory agency in Albany, Oregon seeks an Actuary to supervise actuarial issues related to pricing and solvency of insurers. The role includes analyzing data to construct actuarial tables, evaluating premium rates, and maintaining in-house databases. A bachelor's degree in mathematics or actuarial science is required, along with analytical skills. Salary ranges from $53,764 to $68,630, depending on experience and position level.

Qualifications

• Bachelor's degree including 24 semester credit hours in mathematics, statistics, or actuarial science.
• Proof of successful completion of one Society of Actuaries or Casualty Actuarial Society examination may be required for advancement.

Responsibilities

• Supervise and review actuarial issues related to casualty insurers.
• Assist in constructing actuarial tables by analyzing and presenting data.
• Evaluate premium rates, reserves, and liabilities.

Skills

Analytical skills

Mathematical proficiency

Attention to detail

Education

Bachelor’s degree in mathematics, statistics, or actuarial science

Job description

Duties Description

The New York Department of Financial Services seeks to build an equitable, more transparent and resilient financial system that benefits New Yorkers and supports business. Through engagement, data‑driven regulation, and operational excellence, DFS is responsible for empowering consumers and protecting them from financial harm; ensuring the health and stability of the financial entities it regulates; driving economic growth through responsible innovation; and preserving the stability of the global financial system.

Responsibilities

• Supervise, review, or assist in the review of actuarial issues related to pricing, solvency, and market conduct of casualty insurers conducting business in New York State.
• Assists in constructing actuarial tables by analyzing and presenting data.
• Assists in reviewing the actuarial basis of plans and calculating premiums.
• Evaluates premium rates, reserves, and liabilities.
• Assists in reviewing methods used to value categories of policies, special benefits, or special liability terms.
• Assists in checking the mathematical accuracy of calculations.
• Participates in field examinations of life insurance companies, fraternal benefit societies, health maintenance organizations (HMOs), commercial carriers, and non‑profits.
• Assists in preparing valuation memoranda.
• Assists in reviewing health insurer rate submissions and statistical compilations; reviews insurance company rate filings and reserve analysis for compliance with standards.
• Maintains in‑house databases.
• Assists with large account pricing by preparing models and templates with requisite data.
• Assists in the preparation of quarterly loss reserve analysis.

Appointment Method

NY HELPS: This title is part of the New York Hiring for Emergency Limited Placement Statewide Program. For the duration of the program, the position may be filled via a non‑competitive appointment. At a future date, employees hired under NY HELPS will have their employment status converted to competitive status.

Minimum Qualifications

Bachelor’s degree including 24 semester credit hours in mathematics, statistics, or actuarial science. Proof of successful completion of one Society of Actuaries or Casualty Actuarial Society examination may be required for advancement to assistant actuary.

Salary and Benefits

Salary: $53,764 - $68,630 (Journey Level, SG‑14)

$50,844 - $65,061 (Trainee Level, SG‑13)

Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are eligible to receive an additional $4,000 annual downstate adjustment.

Appointment Status: Permanent or Contingent Permanent.