Review Vacancy
TitleSupervising Actuary Casualty
Occupational CategoryFinancial, Accounting, Auditing
Bargaining UnitM/C - Management / Confidential (Unrepresented)
Salary RangeFrom $109956 to $138763 Annually
Minimum Qualifications Minimum Qualifications:
Reachable on current Civil Service list for this title or one year of permanent, competitive class service as a Supervising Actuary Casualty, 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 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 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 for more information on how to apply: https://www.cs.ny.gov/examannouncements/announcements/oc-cr/decentralized/20-123.cfm.
Preferred Qualifications:
Preferred qualifications include candidate to be an Associate or Fellow of the Casualty Actuarial Society (ACAS or FCAS) and a member of the American Academy of Actuaries (MAAA).
Duties Description The Supervising Actuary of Financial Reporting will be responsible for overseeing all workers’ compensation actuarial reserving activities of the department, which may include but will not be limited to:
- Manage and lead the NYSIF Actuarial workers’ compensation reserving team, 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
- Oversee the establishment of appropriate loss and loss adjustment expense reserve balances in conjunction with the Finance Department
- Oversee the preparation of monthly and quarterly statutory reports such as Schedule X and Schedule P
- Design, implement and oversee a continuous process of reserve analysis and monitoring to ensure actuarial soundness in the roughly $10B of workers’ compensation loss and loss adjustment expense reserves held by NYSIF
- Work with Claims, Underwriting, Finance and senior management to develop actuarially sound loss and loss adjustment expense reserve recommendations
- Analyze impact of trends over time and communicate drivers to senior management
- Evaluate and oversee the implementation and use of new analytical and diagnostical reserving tools and software packages
- Advise and assist business partners with actuarial and mathematical techniques and complete analytical assignment to support business decision making
- Provide actuarial guidance in support of NYSIF’s predictive modeling efforts, especially regarding claims reserving
- Work with and provide guidance to external consultants on matters involving workers’ compensation loss reserving, including data issues, changes in settlement and case reserving patterns, Claims Department initiatives, impact of legislative reforms and any other changes relevant to the establishment of actuarially sound loss and loss adjustment expense reserves
- Assist with Risk Based Capital monitoring and other capital modeling initiatives
- Perform all work in accordance with Actuarial Standards of Practice as promulgated by the Actuarial Standards Board
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 include a resume, exam application/supplemental questionnaire: (https://www.cs.ny.gov/extdocs/pdf/20-113.pdf) to the following:
The New York State Insurance Fund Attn: Human Resources
15 Computer Drive West Albany, NY 12205
E-Mail address: hr@nysif.com