New York Life Actuarial Associate (PF2) 36235 in Austin, Texas
New York Life Insurance Company (“New York Life” or “the company”) is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterey New York Life in Mexico.
New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2015 operating earnings of $1.875 billion. Total assets under management at year end 2015, with affiliates, totaled $528 billion. New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody’s Aaa; Standard & Poor’s AA+. (Source: Individual Third Party Ratings Report as of 8/11/15).
Financial strength, integrity and humanity—the values upon which New York Life was founded—have guided the company’s decisions and actions for over 170 years.
Purpose of Position
We provide our actuarial assistants with a broad background in both the theoretical and practical applications of actuarial science by combining challenging job assignments and significant support towards the completion of the actuarial exams. We also provide significant opportunities to improve business and leadership skills that will enable advancement through the company and prove valuable throughout one's career.
Duties and Responsibilities
Develop premiums and benefits for new and enhanced long-term care products.
Design new products and product features.
Project profitability of new and in force business.
Prepare studies of morbidity and mortality experience.
Review and analyze financial experience
Analyze matching of assets and liabilities including developing optimal investment strategy.
Quantify company risk exposure and proposes ways to minimize risk
Assist in the determination of dividend scales.
Perform actuarial research and statistical analyses.
Perform special projects as assigned.
Knowledge and Skills
Bachelor's degree with preferred majors in Actuarial Science, Mathematics, Statistics, Engineering, Sciences, Economics, or Finance
Prefer cumulative GPA of 3.0 or higher
Strong communication and interpersonal skills
Strong Microsoft Excel, Access and SQL skills
Prefer passage of two or more Society of Actuaries exams (working toward ASA/FSA designation in the Society of Actuaries)
Prefer knowledge of modeling packages, programming languages, and spreadsheet/database software
If you have difficulty using or interacting with any portions of this Web site due to incompatibility with an Assistive Technology, if you need the information in an alternative format, or if you have suggestions on how we can make this site more accessible, please contact us at: (212) 576-5811.
*Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, June 15, 2015. Seehttp://fortune.com/fortune500/2015/ for methodology.
Operating earnings is the key measure use by management to track Company’s profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US(GAAP), with certain adjustments Company believes to be appropriate as a measurement approach ( non GAAP), primarily the removal of gains or losses on investments and related adjustments.
Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.
Date: Oct 11, 2016
Location: Austin, TX, US
Company: New York Life Insurance Co
Job Segment: Accounting, Actuarial, Engineer, Database, SQL, Finance, Insurance, Engineering, Technology
Nearest Major Market: Austin