Review Vacancy
Date Posted: 02/24/23
Applications Due: 03/31/23
Vacancy ID: 125097
Position Information
NY HELPNo
AgencyInsurance Fund, State
TitleSupervising Actuary Life
Occupational CategoryFinancial, Accounting, Auditing
Salary Grade664
Bargaining UnitM/C - Management / Confidential (Unrepresented)
Salary RangeFrom $116686 to $147256 Annually
Employment Type Full-Time
Appointment Type Permanent
Jurisdictional Class Competitive Class
Travel Percentage 10%
Schedule
Workweek Mon-Fri
Hours Per Week 37.5
Workday
From 8 AM
To 5 PM
Flextime allowed? No
Mandatory overtime? No
Compressed workweek allowed? No
Telecommuting allowed? Yes
Location
County New York
Street Address 199 Church Street
City New York
StateNY
Zip Code10007
Job Specifics
Minimum Qualifications Minimum Qualifications:
Reachable on current Civil Service list for this title; one year of permanent, competitive class service as a Supervising Actuary Life; or, one year of permanent, competitive class service in a title eligible for transfer under Section 52.6 of the Civil Service Law; and must also meet all the
following requirements:
• A bachelor’s degree or higher; AND
• Successful completion of the Society of Actuaries examinations MLC, MFE, and four additional examinations OR be an Enrolled Actuary with successful completion of the
Society of Actuaries examinations MLC, MFE, and three additional examinations; AND
• Five 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.
As this title is filled by Continuous Recruitment examination, you must complete a NYS-application form to apply for list eligibility. Please visit the Department of Civil Service website here for more information on how to apply.
Preferred Qualifications:
It is preferred that a qualified candidate also be a member of the American Academy of Actuaries (MAAA) and an Associate or Fellow of the Society of Actuaries (ASA, FSA).
Duties Description Description:
The Aggregate Trust Fund was created by NY Statute to provide wage replacement benefits to dependents of claimants suffering a fatal injury during the course of employment as well as to claimants directly who are impacted by permanent injuries sustained during the course of employment. All benefit payments are funded by deposits from private carriers who transfer the liability for future benefit payments to the ATF. The ATF currently has $500M+ in assets to support future benefit payments.
Under the general direction of the Chief Actuary or other high-level actuarial staff, the Supervising Actuary Life will utilize their education, experience and training in life contingencies and actuarial theory to calculate deposits and reserves and perform other requested calculations from the Workers’ Compensation Board (WCB) involving claims associated with the Aggregate Trust Fund (ATF).
Other duties include, but are not limited to:
• Manage and lead the ATF unit, 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
• Monitor deposit levels, trends and assess the adequacy of funding
• Calculate deposits based on WCB Special Bulletin 222.c
• Calculate appropriate loss reserves
• Provide estimated prospective cashflows to NYSIF’s Investments Department on a periodic basis
• Provide analytical support for actual and proposed legislative initiatives affecting the ATF
• Provide all required actuarial inputs to the year-end financial statements
• Provide support to internal auditors, internal control staff, external auditors, and the Department of Financial Examination audit.
• Develop analytics and models to support executive level decision making.
• Advise and assist business partners in the use of actuarial and mathematical techniques to analyze the business
Additional Comments This position may be filled in either Albany or New York City.
NYSIF has a telecommuting policy
Some positions may require additional credentials or a background check to verify your identity.
Contact Information
Name Renee Bartholomew
Telephone
Fax
Email Address hrexec@nysif.com
Address
Street PO Box 66699
City Albany
State NY
Zip Code 12206
Notes on ApplyingPlease email application materials to hrexec@nysif.com
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