Review Vacancy
TitlePrincipal Actuary Casualty
Occupational CategoryFinancial, Accounting, Auditing
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $100960 to $123996 Annually
Minimum Qualifications Reachable on current Civil Service list for this title; one year of permanent, competitive class service as a Principal Actuary Casualty; one year of permanent, competitive class service in a Law; and must also meet all the following requirements:
• 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: actuarial or statistical work for operating units or management; governmental regulatory actuarial functions; OR performing actuarial computations for reserves, premium rates, and/or policy forms.
title eligible for transfer under Section 52.6 of the Civil Service
Please see the NYS Department of Civil Service examination announcement linked below for additional notes regarding these qualifications: https://www.cs.ny.gov/examannouncements/announcements/oc-cr/decentralized/20-118.cfm
Preferred Qualifications:
Preferred qualifications include membership in the American Academy of Actuaries (MAAA) or an Associate of the Society of Actuaries (ASA). Disability actuarial experience of actuarial experience. The Application for Examination may be accessed through the following link: https://www.cs.ny.gov/extdocs/pdf/20-113.pdf
Duties Description The Principal Actuary Casualty will report to the Supervising Actuary or other high-level actuarial staff and will be responsible for performing the following duties which may include but will not be limited to:
• Overseeing production of actuarial and accounting exhibits supporting roughly 50 of the approximately 100 Safety Groups administered and underwritten by NYSIF;
• Manage a team of actuarial staff supporting a defined number of safety groups, clarify job responsibilities and performance expectations, establish goals and job competencies, identify skill gaps, create development plans, coach and mentor on a continuous basis and provide performance evaluations;
• Design, implement, and oversee a continuous process of monitoring pricing, reserve and contingent balance levels for designated safety groups;
• Work with underwriting and senior management to develop sound models and standards for the declaration of dividends to individual safety groups;
• Incorporate the effects of the latest industry loss cost filings into pricing, reserve, dividend and contingent balance projects for individual safety groups;
• Assist in the evaluation of pricing levels, administrative charges and excess insurance charges for designated safety groups;
• Advise and assist business partners with actuarial and mathematical techniques and complete analytical assignment to support business decision making;
• Perform all work in accordance with Actuarial Standards of Practice as promulgated by the Actuarial Standards Board;
• Remain current with respect to new approaches and methods utilized in ratemaking and reserving;
• Provide support to external safety groups and their respective managers to assist in the management of each group.
Some positions may require additional credentials or a background check to verify your identity.
Address
Notes on ApplyingPlease include the position title and vacancy id number on your cover letter. Candidates should mail or email their cover letter, resume and Application for Examination to the following address:
The New York State Insurance Fund
Attn: Human Resources
15 Computer Drive West
Albany, NY 12205
E-Mail address: hr@nysif.com