Vice President & Actuary, Office of Chief Actuary - New York Life : Job Details

Vice President & Actuary, Office of Chief Actuary

New York Life

Job Location : New York,NY, USA

Posted on : 2025-02-07T09:16:15Z

Job Description :

Job Requisition ID: 91214

Location Designation: Fully Onsite

Location: Fully In-Office, 51 Madison Avenue, New York, New York 10010

Offered Salary: $234,999.00

Position: Vice President & Actuary, Office of Chief Actuary for New York Life Insurance Company in New York, NY

To lead the asset liability management (ALM) and valuation teams for the company's Retail and Institutional Annuities business. Supports continuous improvement activities concerning standardizing and automating Annuities processes. Advises on Annuity product development and pricing initiatives pertaining to ALM and valuation implementation. Provides strategic input to the Annuity business concerning the regulatory asset adequacy implications of its investment activities. Leads the implementation and field testing of upcoming regulatory developments related to Annuity reserve and capital requirements.

Minimum Requirements:

  • Master's degree in Actuarial Science, Mathematics, Economics, or related field (willing to accept foreign education equivalent) plus three (3) years of experience providing pricing, capital management, reserving, and asset liability management actuarial services for life insurance and annuity products.
  • Alternatively, Bachelor's degree in Actuarial Science, Mathematics, Economics, or related field (willing to accept foreign education equivalent) and five (5) years of experience providing pricing, capital management, reserving, and asset liability management actuarial services for life insurance and annuity products.

    • Experience must include 3 years in each of the following skills:

  • Preparing retail and institutional annuities metrics on embedded value, duration, stress testing, and regulatory reporting for dividend paying and non-dividend paying annuity products in accordance with the dividend formula, deferred dividend liability methodology, stochastic-required capital construct, and management reporting standards.
  • Performing attribution analysis to explain the movement of these metrics and associated financial statements.
  • Providing governance and pricing oversight for liability assumptions to ensure product profitability meets minimum equilibrium pricing targets leveraging SharePoint.
  • Designing, implementing, and reviewing actuarial models to support financial analysis, assumption testing, and regulatory requirements leveraging Prophet and AXIS actuarial software.
  • Managing ALM model risk and valuation models leveraging the model change management cycle to ensure compliance with established model risk management protocols.

    • Must possess Fellow of the Society of Actuaries (FSA) certificate.

    Additional Information:

    Eligible for Employee Referral Program.

    Overtime eligible: Exempt

    Discretionary bonus eligible: Yes

    Sales bonus eligible: No

    Pay Transparency:

    Actual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

    Our Benefits:

    We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.

    Our Diversity Promise:

    We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.

    Recognized as one of Fortune's World's Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

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