ALM Intern
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Job Description
About New York Life
New York Life is a Fortune World’s Most Admired Company, committed to improving local communities through employee giving and volunteerism. They operate in the best interests of their policy owners due to their mutuality. They are also recognized for their leadership in diversity, equity, and inclusion (DEI), believing in a diverse workforce that advocates for the financial security and success of people in every community.
Job Description: ALM Intern
Location: Hybrid – 3 days per week
Duration: 11 weeks, starting late May and ending in August
About the Team: The Asset Liability Management (ALM) & Investment Strategy Team at New York Life partners with business, finance, and asset management teams to research, develop, and implement investment strategies that meet business and financial objectives. This requires robust models and data, and the ALM Intern will play a key role in this area.
Responsibilities:
• Quantitative Development: Build new capabilities and maintain existing code infrastructure for the ALM platform.
• Modeling Expansion: Partner with sector specialists, investment accounting, asset data and research teams to expand the company’s modeling capabilities across a wide range of assets, including corporate bonds, structured products, alternative investments, and derivatives.
• Research: Explore new quantitative modeling methods for stochastic modeling of assets and liabilities with embedded optionality, and research quantitative investment strategies.
• Production Improvement: Improve and automate production processes.
• Practical Experience: Complete challenging assignments and gain practical on-the-job experience.
• Skill Development: Participate in training and online courses (i.e. Python).
• Networking: Build connections with NYL actuaries and professionals, including senior management.
• Potential Full-Time Opportunity: Explore a full-time position with New York Life.
• Community Involvement: Participate in group volunteer events.
Required Skills:
• Currently pursuing an Undergraduate, Graduate, or PhD degree at an accredited college or university.
• Preferred majors in Statistics, Data Science, Computer Science, Mathematics, or Financial Engineering.
• Excellent programming skills in an object-oriented language such as Python / C++ / VB.Net / C#.
• Familiarity with both relational and object databases.
Preferred Skills:
• Cumulative GPA of 3.0 or higher.
• Ability to think critically and creatively, work independently, and lead others.
Pay Transparency:
• Salary Range: $28-$32/hour
• Overtime Eligibility: Nonexempt
• Discretionary Bonus Eligibility: No
• Sales Bonus Eligibility: No
Benefits:
• New York Life offers a comprehensive benefits package for full-time employees, including leave programs, adoption assistance, and student loan repayment programs.
Application Process:
• Applications are reviewed on a rolling basis.
• Interviews begin mid-September.
To Apply:
• Visit the Careers page of www.NewYorkLife.com.
Job Requisition ID: 90612
