Please note: State agencies that contact job applicants do not usually request personal or financial information via text message or over the phone in connection with your response to a job posting. If you are contacted for such information by these methods, or any other method, please verify the identity of the individual before transmitting such information to that person.
Note: For questions about the job posting, please contact the agency that posted this position by using the contact information provided on the "Contact" tab for the position.

Review Vacancy

Date Posted 12/02/22

Applications Due01/01/23

Vacancy ID117866

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%

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

County Albany

Street Address 15 Computer Drive West

City Albany

StateNY

Zip Code12005

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.

Name Iris Mulhern

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

Printable Version