Senior Associate, Actuarial Services

New York Life Insurance Company; New York (NY); Remote; USD 85,000 - 140,000; Full time

Job summary

A leading insurance firm is looking for a key member in its modeling team to support financial operations and enhance modeling capabilities. The role includes responsibilities such as executing model conversions, collaborating with business units, and documenting processes. Candidates must possess strong actuarial skills and excellent communication abilities. This remote-friendly position offers competitive salary and comprehensive benefits.

Benefits

Comprehensive benefits package

Adoption assistance

Student loan repayment programs

Qualifications

• Strong actuarial knowledge preferred.
• Experience in using Prophet or similar software.
• Excellent verbal and written communication skills.

Responsibilities

• Support modeling and reporting in finance department.
• Execute on Prophet model conversions.
• Document all changes to the models.

Skills

Actuarial credentials

Experience with Prophet software

Knowledge of asset liability management

Excellent communication skills

Flexibility and adaptability

Education

Actuarial Science Degree

Tools

Prophet

MoSes/RAFM

ALFA

Job description

Overview

Job Requisition ID:91953

Location Designation: Fully Remote

Join Corporate Finance where expertise meets strategic impact. Partner with diverse business units, providing financial insights and guiding sound decision-making. You'll work collaboratively to ensure data accuracy, implement robust controls, and safeguard policy owner interests. Become part of a team dedicated to financial stewardship, enabling business performance, and paving the way for a secure future for generations to come.

Business Overview

The Actuarial Model Architecture and Development (AMAD) team is responsible for supporting the business areas enterprise wide with their Asset-Liability Modeling (ALM) and other modeling needs. AMAD develops and maintains models covering Valuation, Cash Flow Testing, Embedded Value, Stress Testing, RBC, Duration analysis, Economic Capital, Pricing, and Financial Planning. In addition to supporting the Prophet models, the team engages heavily with the business units to understand prospective needs and advise on modeling approaches. This role offers interested candidates the opportunity to learn products and methods across every business within New York Life.

What You\'ll Do

Responsibilities for this position place focus on the drive for continuous improvement from an operational perspective. A sample of the projects the role encompasses, but is not limited to, is as follows:

• The successful candidate will be a key member of a modeling team within the finance department, which is collectively responsible for modeling, reporting, and business analytics.
• Execute on Prophet model conversions and development based on centralized governance policy.
• Utilize advanced modeling techniques, including dynamic asset liability methods, to appropriately reflect characteristics of complex product designs.
• Build business and corporate functionality into consolidated ALM models enabling enterprise-wide risk assessment.
• Work with the business units to understand requested model changes, prioritization, execute test plans, and assist in model acceptance.
• Implement Prophet Enterprise modules to support governance and process automation.
• Implement the Single Platform functionality for Valuation, ALM and Pricing.
• Document all changes and testing to the models.

What You\'ll Bring

The AMAD team tests and implements many leading-edge techniques as a team. We are looking for people with the following skill set:

• Acturial credentials and experience strongly preferred.
• Experience working with open actuarial software such as Prophet, MoSes/RAFM, ALFA, etc.
• Understanding of FIS Prophet software is highly preferred.
• Knowledge of asset liability management, valuation, and/or projection models.
• Experience with supporting complex projects to successful completion.
• Understanding of actuarial enterprise technology environments.
• Understanding of insurance products, regulations, and related risks.
• Ability to take direction from senior modelers and execute on projects according to team standards.
• Excellent relationship building and collaboration skills, both within-team as well as internal and/or external clients.
• A self-starter with strong communication skills.
• Excellent verbal and written communication skills to convey complex actuarial concepts to non-technical stakeholders.
• Familiarity with Agile and Lean processes is a plus.
• Flexibility and adaptability to handle multiple tasks, and deal with shifting priorities, all within demanding time schedules.
• Ability to "think outside of the box" and work with leading edge non-traditional actuarial practices.
• An energetic team player.

#LI-VL1

#LI-HYBRID

Pay Transparency

Salary Range: $85,000-$140,000

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. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site

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. 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.

Visit our LinkedIn to see how our employees and agents are leading the industry and impacting communities.

Visit our Newsroom to learn more about how our company is constantly evolving to meet our clients\' and employees\' needs.

Job Requisition ID:91953