SENIOR ACTUARIAL ASSOCIATE

New York Life; New York (NY); Hybrid; USD 124,000 - 177,000; Full time

Job summary

New York Life is recruiting for a role within its actuarial development program. Trainees gain a broad background across theoretical and practical actuarial science, rotating through assignments and support to complete actuarial exams.

The program emphasizes business leadership and professional growth, with opportunities to work on premiums, product design, reserves, and profitability analyses. Hybrid work arrangement is available (3 days per week).

Qualifications

• Strong communication and interpersonal skills.
• Analytically minded with solid problem-solving abilities.
• Strong decision making abilities.
• Knowledge of modeling packages, programming languages, and spreadsheet/database software.

Responsibilities

• Develop premiums and benefits for new and enhanced insurance and annuity 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.

Skills

Communication

Analytical thinking

Decision making

Modeling software

Education

Bachelor’s degree in relevant fields

Tools

Modeling packages

Programming languages

Spreadsheet/database software

Job description

When 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 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 ASA working towards FSA designation in the Society of Actuaries
• Passage of five or more Society of Actuaries Exams required
• 4+ 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

Pay Transparency

Salary Range: $124,000-$177,000

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.

Location Designation: Hybrid - 3 days per week

Job Level: LEVELPF4