Assistant Actuary, SG-14

Duties

The New York Department of Financial Services seeks candidates for entry-level actuarial positions in various Bureaus within the Insurance Division. The Life and Health Bureaus are responsible for the supervision and regulation of the entire life and health insurance industries in New York State, while the Property Bureau oversees the property and casualty insurance industry.

• Assists in constructing actuarial tables by analyzing and presenting data;
• Assists in reviewing the actuarial basis of plans and calculates premiums;
• Evaluates premium rates, reserves, and liabilities;
• Assists in reviewing methods used to value categories of policies, special benefits, or special liability terms;
• Assists in checking the mathematical accuracy of calculations;
• Participates in field examinations of life insurance companies, fraternal benefit societies, health maintenance organizations (HMOs), commercial carriers, and non-profits;
• Assists in preparing valuation memoranda;
• Assists in reviewing health insurer rate submissions and statistical compilations; reviews insurance company rate filings and reserve analysis for compliance with standards;
• Maintains in-house databases;
• Assists with large account pricing by prepping models and templates with requisite data;
• Assists in the preparation of quarterly loss reserve analysis.

Minimum Qualifications

• A bachelor's degree including 24 semester credit hours in mathematics, statistics, or actuarial science;
• You must provide proof of successful completion of one examination from the Society of Actuaries or the Casualty Actuarial Society to the appointing authority at the time of completion.

Additional Comments

Please note that a change in negotiating unit may affect your salary, insurance, and other benefits.

Some positions may require additional credentials or a background check to verify your identity.

Email Address: human-resources@dfs.ny.gov

Address: Suite 301

Public Service Loan Forgiveness: Employment with New York State qualifies an individual for Public Service Loan Forgiveness (PSLF). This program forgives the remaining balance on any Direct Student Loans after you have made 120 qualifying monthly payments while working full-time for a U.S. federal, state, local, or tribal government or not-for-profit organization. To learn more about the program and whether you would qualify, please visit: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service.

AMERICANS WITH DISABILITIES ACT: REASONABLE ACCOMMODATIONS: 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. If the accommodation would constitute an undue hardship on the operations of the agency, the agency is not required to provide it.