Actuarial Assistant – Actuarial Development Program

Job Description

ACTUARIAL ASSISTANT | New York Life

The Tone:
This is a full-time role at New York Life, designated as hybrid with three days per week in New York, NY. New York Life is a mutual company focused on providing financial security and peace of mind to families across all communities through a range of insurance and annuity products. This Actuarial Assistant position is integral to the actuarial development program, offering a broad foundation in both theoretical and practical actuarial science. The role is crucial for developing future actuarial leaders by supporting exam completion and enhancing essential business and leadership skills for advancement within the company.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: Hybrid, New York, NY
• Pay: $81000–$115500 yearly
• Team: Actuarial Development Program
• Mission: This person will contribute to the development, monitoring, and financial analysis of insurance and annuity products while progressing through actuarial exams.
• Tech Stack: modeling packages, programming languages, spreadsheet/database software

What You’ll Actually Do
• Product Development: Develop premiums and benefits for new and enhanced insurance and annuity products.
• Product Design: Design new products and product features to meet evolving market needs.
• Financial Reporting: Calculate reserves and report actuarial balances accurately.
• Performance Analysis: Project product profitability and analyze the key drivers of financial performance.
• Risk Management: Quantify risk exposure and propose effective strategies to manage that risk.

The Must-Haves
• Background: Early Career professional with a Bachelor’s degree in Actuarial Science, Computer Science, Data Science, Mathematics, Statistics, Engineering, Economics, or Finance.
• Experience: Actively working towards the FSA designation with the Society of Actuaries.
• Skills: Strong communication and interpersonal skills, an analytical mindset, robust decision-making abilities, and practical knowledge of modeling packages, programming languages, and spreadsheet/database software.
• Bonus: Preferential consideration for candidates who have passed two or more Society of Actuaries exams and possess a cumulative GPA of 3.0 or higher.