Position Information

NY HELPSYes

55-b/c EligibleNo

AgencyTeachers' Retirement System

TitleActuary Trainee/Assistant Actuary

Occupational CategoryOther Professional Careers

Salary Grade13

Bargaining UnitCSEA Local 658 (NYS Teachers’ Retirement System)

Salary RangeFrom $59609 to $87497 Annually

Employment Type Full-Time

Appointment Type Permanent

InternshipNo

Jurisdictional Class Non-competitive Class

Travel Percentage 0%

Schedule

Workweek Mon-Fri

Hours Per Week 37.5

Workday

From 8 AM

To 4 PM

Flextime allowed? No

Mandatory overtime? No

Compressed workweek allowed? No

Telecommuting allowed? Yes

Location

County Albany

Street Address 10 Corporate Woods Dr.

City Albany

StateNY

Zip Code12211

Job Specifics

Duties Description The Actuary Trainee/Assistant Actuary is a staff member of the Actuarial Department of one of the 10 largest public pension funds in the nation. The focus of the actuarial team is to maintain a secure, stable pension for the members of the NYS Teachers’ Retirement System through its annual preparation of the actuarial valuation and employer contribution rate. The Actuary Trainee/Assistant Actuary will be deeply involved in all aspects of the actuarial job duties listed below and work with a highly collaborative team. Given the size of the plan, the position allows for a wide range of actuarial opportunities and skill growth within an organization that supports a healthy work-life balance.

 

NY HELPS Program Information

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 may be filled with a non-competitive appointment, which means no examination is required but all candidates must meet the minimum qualifications, and any specialized requirements, of the title for which they apply.

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.

Job Duties

The Actuary Trainee/Assistant Actuary will be responsible for, but not limited to, the following duties:

Participate in the annual actuarial valuation of System data, assets and liabilities leading to the development of the employer contribution rate, using the System’s valuation software (ProVal)

Calculate the System’s annual actuarial gain/loss using the System’s valuation software (ProVal)

Analyze annual experience studies used to gauge the effectiveness of actuarial assumptions

Create materials needed for compliance with GASB 67 and GASB 68

Participate in the preparation of fiscal notes for proposed plan design legislation affecting the System

Assist in the preparation of the New York State Dept. of Financial Services annual filing

Develop information, charts, and graphs for the Actuarial and Statistical section of the System’s Annual Financial Report

Work with outside auditors and system accountants on preparation of the System’s annual financial statements, including preparation of actuarial and funding disclosures

Analyze actuarial assumptions as needed (typically every five years)

Prepare annuity values and option factors in accordance with statue, including the computation of option factors for alterative options and domestic relation orders

Minimum Qualifications Minimum Qualifications

To be appointed via the NY HELPS program, you must meet the following requirements:



Actuary Trainee (Grade 13)*

On or before the date of filing your application, you must have a bachelor's degree including 24 semester credit hours in mathematics, statistics, or actuarial science.*Conditions for Actuarial Traineeship: During the one-year traineeship, appointees will be required to have successfully completed one examination of the Society of Actuaries or the Casualty Actuarial Society. Those trainees who meet the requirements may be advanced to the title of Assistant Actuary without further examination. Those trainees who do not meet this requirement within one year of appointment will have their employment terminated.



Assistant Actuary (Grade 14)

A bachelor's degree or higher including or supplemented by 24 semester credit hours in mathematics, statistics, and/or actuarial science; AND successful completion of one (1) examination of the Society of Actuaries or Casualty Actuarial Society.



Preferred Qualifications

Working knowledge in Microsoft Word, Excel, and PowerPoint

Excellent oral and written communication skills

Ability to organize and prioritize work in a dynamic and complex environment to meet deadlines and daily requirements

Experience with pension valuation programming, ideally with ProVal

Commitment to providing exceptional customer service

Additional Comments In order to be considered for this position, you are required to complete a NYSTRS’ employment application for the position you are applying for. The link to the employment applications is below.
https://nystrs.wd12.myworkdayjobs.com/NYSTRS_Careers

Some positions may require additional credentials or a background check to verify your identity.

How to Apply

Name Emily Seils-Donlon

Telephone 518-447-2906

Fax

Email Address nystrshr@nystrs.org

Address

Street 10 Corporate Woods Dr.

City Albany

State NY

Zip Code 12211

 

Notes on ApplyingIn order to be considered for this position, you are required to complete a NYSTRS’ employment application for the position you are applying for. The link to the employment applications is below.
https://nystrs.wd12.myworkdayjobs.com/NYSTRS_Careers