Senior Actuary Casualty, SG-19

New York State Department of Financial Services; Albany (OR); On-site; USD 70,579 - 89,645; Full time

Job summary

A state financial regulatory agency in Albany, Oregon is seeking an actuary to accumulate and reconcile loss data and assist with reserve adequacy. Candidates need a Bachelor's degree with credits in mathematics or statistics and must have one year of actuarial experience. Salary ranges from $70,579 to $89,645, with potential adjustments based on location. This position is permanent or contingent permanent.

Qualifications

• A bachelor’s degree or higher with credits in relevant subjects is required.
• Successful completion of one Casualty Actuarial Society examination is necessary.
• At least one year of actuarial experience.

Responsibilities

• Accumulates and reconciles internal loss data with financial statements.
• Assists in establishing and testing adequacy of reserves.
• Prepares exhibits displaying estimates, premiums, and reserves.
• Reviews ratemaking procedures for compliance.
• Analyzes insurance companies’ premium trends and ratios.
• Communicates with companies regarding filings.

Education

Bachelor's degree or higher

24 semester credit hours in mathematics, statistics, and/or actuarial science

Job description

The New York Department of Financial Services is dedicated to building an equitable, transparent, and resilient financial system that benefits New Yorkers and supports business. Through engagement, data‑driven regulation, and operational excellence, DFS empowers consumers, protects them from financial harm, ensures the health and stability of the entities we regulate, drives economic growth through responsible innovation, and preserves the stability of the global financial system.

Duties

• Accumulates and reconciles internal company loss data with financial statement data;
• Assists in establishing and testing the adequacy of loss and loss adjustment expense reserves;
• Prepares exhibits displaying selected ultimate estimates, premiums, and loss ratios, and property/casualty reserves;
• Reviews ratemaking procedures;
• Examines filings to ensure that standard actuarial techniques were used;
• Analyzes insurance companies’ premium trends, expense ratios, loss development factors, and profit provisions;
• Assists in reviewing routine rate submissions;
• Communicates with companies to get additional information on incomplete or inaccurate filings;
• Creates and maintains graphs, spreadsheets, and reports;
• Assists in preparing reports related to premium rate derivation; prepares various calculations approved by higher‑level staff;
• Explains actuarial computations to staff, policyholders, and their representatives;
• Analyzes case reserves and recommends that certain calculations be final or interim;
• Responds to data requests from outside entities.

Minimum Qualifications

• A bachelor’s degree or higher, supplemented by 24 semester credit hours in mathematics, statistics, and/or actuarial science;
• Successful completion of one examination of the Casualty Actuarial Society;
• One year of actuarial experience.

Salary and Benefits

Salary: $70,579 – $89,645. 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 & Contingent Permanent.