Senior Actuary Life, SG-19

Duties

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.

DFS is seeking candidates of varying experience and skill levels for various actuarial positions in the Life and Health Bureaus. The Life and Health Bureaus are responsible for the supervision and regulation of the entire life and health insurance industries in New York State and does so by establishing standards for financial solvency, market conduct and corporate oversight and produces regulations, while monitoring the compliance of regulated entities with such standards.

• Reviews accuracy and completeness of the data underlying plan valuation;
• Assists in establishing and testing the adequacy of loss and loss adjustment expense reserves;
• Prepares exhibits displaying ultimate estimates, premiums, and loss ratios;
• Reviews insurer rates, nonguaranteed elements, illustrations, and actuarial aspects of policy forms;
• Reviews ratemaking procedures;
• Reviews insurer risk management practices and asset adequacy analyses;
• Reviews minimum statutory formula reserves, reinsurance treaties, liquidity filings, and actuarial aspects of risk based capital filings;
• Reviews premium rate filings for individual and group accident and health products;
• Reviews and analyzes actuarial aspects of commission submissions, experience rating formula submissions, and premium rate complaints;
• Requests additional information on incomplete or inaccurate filings;
• Prepares various calculations approved by higher-level staff;
• Explains actuarial computations to staff, policyholders and their representatives;
• Analyzes case reserves and recommends that certain calculations be final or interim.

Minimum Qualifications

• 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.

Additional Comments

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

Salary

$70,579 – $89,645

Downstate Adjustment

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.

Appointment Status

Permanent & Contingent Permanent

Application Instructions

To Apply: 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 SRACTLFE) 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.

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.