Associate Actuary Life, SG-24

About the role

The New York Department of Financial Services seeks to build an equitable, more transparent and resilient financial system that benefits New Yorkers and supports business. Through engagement, data-driven regulation, and operational excellence, DFS is responsible for empowering consumers and protecting them from financial harm; ensuring the health and stability of the financial entities we regulate; driving economic growth through responsible innovation; and preserving the stability of the global financial system.

Responsibilities

• Reviews and approves credit life, credit disability, and credit unemployment insurance filings such as rates, rating plans, and policy forms for compliance with applicable regulations;
• Reviews and tests the adequacy of rate adjustment applications;
• Produces or checks the annual actuarial valuation, experience studies, and actuarial liability and cost calculations for fiscal notes;
• Analyzes actuarial gains and losses of operations;
• Affords assistance to companies to resolve actuarial problems and develop and implement rates;
• Audits reserve valuation and valuation methods for compliance;
• Affords assistance in monitoring compliance with statutory accounting requirements;
• Affords assistance in the review of insurer rates, non-guaranteed elements, illustrations, and actuarial aspects of policy forms;
• Reviews minimum statutory formula reserves;
• Investigates complaints on premium matters;
• Analyzes new and amended regulations;
• Reviews community rate adjustment applications of HMOs and health insurers;
• Affords participation in field examinations of life and health insurance organizations and fraternal benefit societies;
• Performs premium rate reviews for new contracts for all types of health insurance;
• Prepares new actuarial tables, including the construction and graduation of the experience rates;
• Prepares, tests, and runs the gain/loss analysis and experience studies;
• Affords assistance in the supervision of consultants and supervises lower-level actuaries;
• Affords assistance in overseeing the development of new or revised requirements for policy form requirements, asset/liability management, and risk management.

Requirements

• A 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 activities:
• actuarial or statistical work for operating units or management;
• governmental regulatory actuarial functions;
• governmental or private pension actuarial functions; OR
• performing actuarial computations for reserves, premium rates, and/or policy forms.

Qualifications

NY HELPS: This title is part of the New York Hiring for Emergency Limited Placement Statewide Program (NY HELPS). For the duration of the NY HELPS Program, this title maybe filled via a non-competitive appointment, which means no examination is required but all candidates must meet the minimum qualifications of the title for which they apply (see minimum qualifications above). At this time, agencies may recruit and hire employees by making permanent non-competitive appointments.

Additional Comments

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

Schedule

Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are also eligible to receive an additional $4,000 annual downstate adjustment.

Pay

$91,298 - $115,252

Contact Information

Email Address: human-resources@dfs.ny.gov
Address: Suite 301
Notes on Applying: Interested qualified candidates must submit a resume, letter of interest and an unofficial copy of their transcripts including undergraduate, SOA, and/or CAS no later than December 16, 2026 to the email address listed below. Please include the Box # (Box ACTLFE) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.

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.

Equal Opportunity

All people with disabilities are encouraged to apply to all jobs for which they meet the minimum qualifications.