Senior Life Actuary – Valuation, Rates & Reserves

Responsibilities

• Review accuracy and completeness of the data underlying plan valuation
• Assist in establishing and testing the adequacy of loss and loss adjustment expense reserves
• Prepare exhibits displaying ultimate estimates, premiums, and loss ratios
• Review insurer rates, non‑guaranteed elements, illustrations, and actuarial aspects of policy forms
• Review rate making procedures
• Review insurer risk management practices and asset adequacy analyses
• Review minimum statutory formula reserves, reinsurance treaties, liquidity filings, and actuarial aspects of risk‑based capital filings
• Review premium rate filings for individual and group accident and health products
• Review and analyze actuarial aspects of commission submissions, experience rating formula submissions, and premium rate complaints
• Request additional information on incomplete or inaccurate filings
• Prepare various calculations approved by higher‑level staff
• Explain actuarial computations to staff, policyholders and their representatives
• Analyze case reserves and recommend that certain calculations be final or interim

• A bachelor's degree or higher including or supplemented by 24 semester credit hours in mathematics, statistics, and/or actuarial science
• Successful completion of one examination of the Society of Actuaries
• One year of actuarial experience

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 for an additional $4,000 annual downstate adjustment.

New York Hiring for Emergency Limited Placement Statewide Program (NY HELPS) allows for a non‑competitive appointment. At a future date, employment under NY HELPS may be converted to competitive status without an examination.

Under the Americans with Disabilities Act (ADA), the Department of Financial Services is required to provide reasonable accommodation for known physical or mental limitations of an otherwise qualified applicant with a disability if an accommodation would enable the applicant to perform the essential functions of the job. All people with disabilities are encouraged to apply to all jobs for which they meet the minimum qualifications.