Review Vacancy
AgencyFinancial Services, Department of
TitleSupervising Actuary Casualty
Occupational CategoryOther Professional Careers
Bargaining UnitM/C - Management / Confidential (Unrepresented)
Salary RangeFrom $109956 to $138763 Annually
Minimum Qualifications Appointment method:
Transfer: Candidates must have one year of permanent competitive service in a title eligible for transfer via Section 52.6 of the Civil Service Law and must also meet the following requirements:
A bachelor's degree or higher; AND successful completion of five examinations of the Casualty Actuarial Society; AND five years of actuarial experience in one or more of the follows activities: actuarial or statistical work for operats units or management; governmental regulatory actuarial functions; OR performing actuarial computations for reserves, premium rates, and/or policy forms.
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.
List Appointment: Candidates must be reachable on the Civil Service eligible list for 20-123.
Duties Description The Department of Financial Services (DFS) is seeking candidates for the position of Supervising Actuary Casualty. Under the general direction of a Chief Actuary Casualty, the incumbent will be responsible for obtaining and performing reasonability checks on actuarial data sources utilized in actuarial analyses. Other duties will include, but not be limited to, the following:
• Obtains and performs reasonability checks on actuarial data sources utilized in actuarial analyses. Coordinates with Examiners to validate and/or re-construct the data reconciliation from internal and/or external sources (i.e. CPA reports, SOX documents);
• Coordinates with Examiners and Analysts to perform risk focused in-house actuarial analyses for moderate-high to high risk Property/Casualty companies in accordance with the NAIC accreditation standards; provides reserve recommendations which are supported by appropriate documentation; provides oral and/or written defense of actuarial findings with respect to loss and loss adjustment expense reserves, as needed;
• Identifies, develops and/or implements new actuarial techniques/methods, new computer templates and databases and new work flow procedures and guidelines to conduct risk focused actuarial analyses in compliance with the current NAIC standards and practices;
• Reviews actuarial opinion documents, the actuarial aspects of reinsurance agreements and other statutory documents requires actuarial review;
• Supervises and trains subordinate members of the unit in intermediate and advanced actuarial techniques used in reserve reviews, general work procedures, usage of related computer systems and other relevant items as needed;
• Instructs Examiners regarding reconciliation of the actuarial data underlying the analyses and any other related examination tasks requires knowledge of the actuarial functions;
• Keeps abreast of regulatory and actuarial industry changes which impact actuarial and accounts practices and procedures and any new systems/templates which would improve functionality and efficiency; recommends software updates and computer trains for in-house staff;
• Acts as Project Manager to monitor outsourced contracts to consultants performs actuarial rate and reserve analyses;
• Performs all aspects of bidder selection, contract and work plan development, and oversight of expense and status reports; ensures all work performed adheres to professional standards and Department policies and procedures;
• Coordinates with consultant throughout the project and reviews and critiques outsourced actuarial reports submitted by consultant actuaries as well as other statutory documents;
• Recommends reserve indications and relevant findings;
• Performs research in connection with ratemaking principles and analyzes insurance data;
• Supervises the review and analysis of rate filings including, but not limited to, automobile, medical malpractice and Workers Compensation; reviews and analyzes innovative and complex filings;
• Supervises and trains lower level actuarial staff in the review process for rate and rule filings, and in conducts actuarial analyses;
• Develops and maintains rate review software intrinsic to reviews private passenger automobile rate filings;
• Supervises preparation of exhibits and PowerPoint presentations as needed for speeches, reports, and other public information requests;
• Leads the actuarial team to address the statutory mandates regards approval of individual Workers Compensation rate submissions;
• Represents DFS at hearings and court proceedings, as well as in meetings with internal personnel, insurance companies, sister state agencies, NAIC committees and the general public;
• Performs special projects as needed; and
• Assists in prepares testimony to be used at Department hearings and/or court proceedings, when necessary.
Additional Comments 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 $3,026 annual downstate adjustment.
Appointment to this position is pending Division of Budget approval to fill.
Some positions may require additional credentials or a background check to verify your identity.
Email Address NCE.Notifications@dfs.ny.gov
Address
Notes on ApplyingTo Apply: Interested candidates (transfer candidates and 20-123 eligibles) must submit a resume and letter of interest no later than August 9, 2019 to the email address listed below. Please include the Box # (Box 05615) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.
Interested candidates who are not eligible for transfer and those who do not have a standing on list 20-123 should apply for the Continuous Recruitment Examination for Supervising Actuary Casualty by completing the Examination Application materials, found here: https://www.cs.ny.gov/extdocs/pdf/20-113.pdf *
Ryan Taratus
Box 05615
New York State Department of Financial Services
Office of Human Resources Management
One Commerce Plaza
Albany, NY 12257
Email: Ryan.Taratus@dfs.ny.gov
Fax: (518) 402-5071
*Note: There is no deadline to apply for the Supervising Actuary Casualty examination as applications are accepted on a continuous basis, however, to be considered for this recruitment, please submit your exam application no later than June 26, 2019.
All candidates that apply may not be scheduled for an interview
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.