Review Vacancy
AgencyTeachers' Retirement System
Occupational CategoryOther Professional Careers
Bargaining UnitCSEA Local 658 (NYS Teachers’ Retirement System)
Salary RangeFrom $68526 to $85580 Annually
Minimum Qualifications EITHER: 1) Reachable on the Civil Service eligible list; OR 2) Eligible for reassignment by virtue of having permanent competitive service as a Senior Actuary (SG-19); OR 3) Eligible for transfer under the provisions of the Civil Service Law.
Preferred Qualifications:
- Actuarial experience working within a large pension plan
- Passed more than one actuarial exam and working towards becoming a credentialed actuary within the Society of Actuaries
- Proficiency in Microsoft Word, Excel and PowerPoint
- Excellent written and oral communication skills
- Commitment to providing exceptional customer service
- Excellent interpersonal skills
Duties Description The Senior 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 Senior 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.
The responsibilities of the Senior Actuary will include, but are not limited to, the following:
Participates 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)
Calculates the System’s annual actuarial gain/loss using the System’s valuation software (ProVal)
Analyzes annual experience studies used to gauge the effectiveness of actuarial assumptions
Creates materials as needed for compliance with GASB 67 and GASB 68
Participates in the preparation of fiscal notes for proposed legislation affecting the System
Assists in the preparation of the New York State Dept. of Financial Services annual filing
Drafts the information, charts and graphs for the Actuarial and Statistical section of the System’s Annual Financial Report
Works with outside auditors and system accountants on preparation of the System’s annual financial statements, including preparation of actuarial and funding disclosures
Analyzes actuarial assumptions as needed (typically every five years)
Prepares annuity values and option factors in accordance with statue, including the computation of option factors for alterative options and domestic relation orders
Additional Comments Upon application, candidates will be required to complete the Senior Actuary examination (Exam No. 20-112) in order to be eligible to be placed on the Civil Service list. There will be no written test. The application/supplemental questionnaire is the test. Your completed application/supplemental questionnaire will be the only basis for rating your training, education, and experience. Please see the Civil Service Exam Announcement (https://www.cs.ny.gov/examannouncements/announcements/oc-cr/decentralized/20-110.cfm) for instructions on how to complete exam No. 20-112. You must complete and mail your Civil Service Exam to the NYS Teachers’ Retirement System, as stated in the exam announcement, by the closing date of this posting.
THIS IS NOT A REMOTE WORK POSITION.
There are currently no mandatory re-employment lists at this time. However, please note that if such a list is certified against this title prior to the completion of the selection process, candidates applying based on eligible list standing or transferability under Civil Service Law can no longer be considered.
The work hours of this position are subject to change in accordance with Article 12 of the collective bargaining agreement.
Some positions may require additional credentials or a background check to verify your identity.
Email Address nystrshr@nystrs.org
Address
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.peopleadmin.com/postings/4268
Upon application, candidates will be required to complete the Senior Actuary examination (Exam No. 20-112) in order to be eligible to be placed on the Civil Service list. There will be no written test. The application/supplemental questionnaire is the test. Your completed application/supplemental questionnaire will be the only basis for rating your training, education, and experience. Please see the Civil Service Exam Announcement (https://www.cs.ny.gov/examannouncements/announcements/oc-cr/decentralized/20-110.cfm) for instructions on how to complete exam No. 20-112. You must complete and mail your Civil Service Exam to the NYS Teachers’ Retirement System, as stated in the exam announcement, by the closing date of this posting.