Review Vacancy
AgencyFinancial Services, Department of
TitlePrincipal Actuary Casualty
Occupational CategoryFinancial, Accounting, Auditing
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $109250 to $134178 Annually
Duties Description The New York Department of Financial Services seeks to build an equitable, more transparent and resilient financial system that benefits New Yorkers and supports business. Through engagement, data-driven regulation, and operational excellence, DFS is responsible for empowering consumers and protecting them from financial harm; ensuring the health and stability of the financial entities we regulate; and driving economic growth through responsible innovation.
DFS is seeking candidates of varying experience and skill levels for various actuarial positions in the Property Bureau. The Property Bureau is responsible for the supervision and regulation of the property and casualty insurance industry in New York State and does so by establishing standards for financial solvency, market conduct and corporate oversight and produces regulations, while monitoring the compliance of regulated entities with such standards.
As an Actuary in the NYS Department of Financial Services, you will supervise, review, or assist in the review of actuarial issues related to pricing, solvency, and market conduct of casualty insurers conducting business in New York State. Specific duties vary by title and are available through the attached links.
Minimum Qualifications Appointment method:
Minimum Qualifications: On or before the date of filing your application, you must have all of the following:
• A bachelor's degree or higher; AND
• Successful completion of four examinations of the Casualty Actuarial Society; AND
• Four years of actuarial experience in one or more of the following activities:
1. actuarial or statistical work for operating units or management;
2. governmental regulatory actuarial functions; OR
3. performing actuarial computations for reserves, premium rates, and/or policy forms
NY HELPS: This title is part of the New York Hiring for Emergency Limited Placement Statewide Program (NY HELPS).
For the duration of the NY HELPS Program, this title maybe filled via a non-competitive appointment, which means no examination is required but all candidates must meet the minimum qualifications of the title for which they apply (see minimum qualifications above). At this time, agencies may recruit and hire employees by making temporary appointments. If a temporary NY HELPS employee is satisfactorily performing in the position, the appointment will be changed from temporary pending Civil Service Commission Action to permanent non-competitive and the official probationary period will begin.
At a future date (within one year of permanent appointment), it is expected employees hired under NY HELPS will have their non-competitive employment status converted to competitive status, without having to compete in an examination. Employees will then be afforded with all of the same rights and privileges of competitive class employees of New York State. While serving permanently in a NY HELPS title, employees may take part in any promotion examination for which they are qualified.
Transfer: Candidates must have one year of permanent competitive service in a title eligible for transfer via Section 70.1 or 52.6 of the Civil Service Law. Information regarding transfer eligibility may be available on the Civil Service Career Mobility Office website at http://careermobilityoffice.cs.ny.gov/cmo/.
Please Note that under Civil Service Law, an employee cannot have two consecutive upward 70.1 or 52.6 transfers without an intervening eligible list appointment if such transfers would exceed two salary grades.
Additional Comments Please note that a change in negotiating unit may affect your salary, insurance and other benefits.
Salary: $109,250 – $134,178
Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are also eligible to receive an additional $3,400 annual downstate adjustment.
Appointment Status: Permanent & Contingent Permanent
Some positions may require additional credentials or a background check to verify your identity.
Email Address human-resources@dfs.ny.gov
Address
Suite 301
Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume, letter of interest, and transcript* no later than December 31, 2024, to the email address listed below. Please include the Vacancy ID in the subject line of your email to ensure receipt of your application. Email submissions are preferred. *Please note – Candidates must supply proof of their Casualty Actuarial Society examination results.
Tidiane Conde
New York State Department of Financial Services
Office of Human Resources Management
One Commerce Plaza, Suite 301
Albany, NY 12257
Email: human-resources@dfs.ny.gov
Fax: (518) 402-5071
All candidates that apply may not be scheduled for an interview
Public Service Loan Forgiveness
Employment with New York State qualifies an individual for Public Service Loan Forgiveness (PSLF). This program forgives the remaining balance on any Direct Student Loans after you have made 120 qualifying monthly payments while working full- time for a U.S. federal, state, local, or tribal government or not-for-profit organization. To learn more about the program and whether you would qualify, please visit: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service
AMERICANS WITH DISABILITIES ACT: REASONABLE ACCOMMODATIONS
Under the Americans with Disabilities Act (ADA), the Department of Financial Services is required to provide reasonable accommodation for known physical or mental limitations of an otherwise qualified applicant with a disability if an accommodation would enable the applicant to perform the essential functions of the job. If the accommodation would constitute an undue hardship on the operations of the agency, the agency is not required to provide it.