Associate Actuary , SG

About the Department

The New York Department of Financial Services seeks to build an equitable, transparent, and resilient financial system that benefits New Yorkers and supports businesses. Through engagement, data‑driven regulation, and operational excellence, DFS empowers consumers, protects them from financial harm, and ensures the health and stability of the financial entities it regulates.

• Review and approve credit life, credit disability, and credit unemployment insurance filings for compliance with applicable regulations.
• Review and test the adequacy of rate adjustment applications.
• Produce or review annual actuarial valuations, experience studies, and liability and cost calculations for fiscal notes.
• Analyze actuarial gains and losses of operations.
• Assist companies in resolving actuarial problems and in developing and implementing rates.
• Audit reserve valuation and valuation methods for compliance.
• Assist in monitoring compliance with statutory accounting requirements.
• Review insurer rates, non‑guaranteed elements, illustrations, and actuarial aspects of policy forms.
• Review minimum statutory formula reserves.
• Investigate complaints on premium matters.
• Analyze new and amended regulations.
• Review community rate adjustment applications for HMOs and health insurers.
• Participate in field examinations of life and health insurance organizations and fraternal benefit societies.
• Perform premium rate reviews for new contracts for all types of health insurance.
• Prepare new actuarial tables, including construction and graduation of experience rates.
• Prepare, test, and run gain/loss analysis and experience studies.
• Assist in supervision of consultants and lower‑level actuaries.
• Help oversee the development of new or revised requirements for policy form requirements, asset/liability management, and risk management.

• Bachelor's degree or higher.
• Successful completion of two examinations of the Society of Actuaries.
• Three years of actuarial experience in one or more of the following areas:
  • Actuarial or statistical work for operating units or management.
  • Governmental regulatory actuarial functions.
  • Governmental or private pension actuarial functions.
  • Actuarial computations for reserves, premium rates, and/or policy forms.

Salary range: $91,298 – $115,252. Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are eligible for an additional $4,000 annual downstate adjustment.

Permanent & Contingent Permanent

All people with disabilities are encouraged to apply. The Department of Financial Services is required to provide reasonable accommodations for qualified applicants with a disability if an accommodation would enable the applicant to perform the essential functions of the job.