Actuarial Assistant

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 the office. New York Life, a mutual company recognized as one of Fortune’s World’s Most Admired Companies, is deeply committed to improving local communities and operating in the best interests of its policy owners by providing financial security and peace of mind to families across all communities. Fostering an inclusive workplace is fundamental, with core values of humanity and integrity ensuring every employee feels valued and supported. This Actuarial Assistant position is an integral part of the company’s comprehensive actuarial development program. The program is specifically designed to equip actuarial trainees with a broad background in both theoretical and practical applications of actuarial science, combining rotating job assignments with dedicated support towards the completion of actuarial exams. The role also provides significant opportunities to enhance business and leadership skills, enabling advancement through the company and proving valuable throughout one’s career.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: Hybrid – New York, NY
• Pay: $81000–$115500 yearly
• Team: Actuarial Development Program
• Mission: Contribute to the development and management of insurance and annuity products while supporting the trainee’s actuarial exam progression.
• 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 market demands.
• Financial Reporting: Calculate reserves and report actuarial balances.
• Profitability Analysis: Project product profitability and analyze drivers of financial performance.
• Risk Management: Quantify risk exposure and propose methods to manage risk.

The Must-Haves
• Background: Bachelor’s degree with preferred majors in Actuarial Science, Computer Science, Data Science, Mathematics, Statistics, Engineering, Economics, or Finance. Candidates must be actively working towards their FSA designation with the Society of Actuaries.
• Experience: While no specific years of experience are mandated, candidates are preferred to have successfully passed two or more Society of Actuaries exams, demonstrating foundational knowledge and commitment to the actuarial profession.
• Skills: Possess strong communication and interpersonal skills, an analytically minded approach, and robust decision-making abilities. Candidates should also have knowledge of modeling packages, programming languages, and spreadsheet/database software.
• Bonus: A cumulative GPA of 3.0 or higher is preferred for this role.