Career Opportunities: SENIOR ACTUARIAL ASSOCIATE (90770)

Job Requisition ID: 90770

Location Designation: Hybrid - 3 days per week 

Location: Philadelphia, PA (Hybrid: Tuesday-Thursday from the Philadelphia office, Monday & Friday work from home)

Offered Wage: $133,800/year 

Duties: Provides pricing support and risk analysis for Long-Term Disability (LTD) product. Develops and enhances complex actuarial analyses to support LTD profitability, growth, and operational objectives.  Develops and improves pricing methodologies, models, and tools used by Underwriting to determine appropriate premium rates for inforce and takeover business. Performs in-depth reviews of manual rating assumptions and formulas as well as experience rating methodology. Analyzes and enhances pricing formulas, including consideration of emerging trends, to ensure adequacy of prospective full-profit premium rates. Calculates appropriate reserve estimates required for unpaid claim liability. Ensures compliance of all pricing formulas, including state rate filing preparation, certifications, and accurate implementation in rating systems. Develops pricing for new product features or new products as needed. Collaborates with and supports key business partners such as Underwriting, Distribution, Product, Claims, Finance, IT, and Compliance.  Provides case-level pricing support for non-standard product and service requests. Provides clear communications and presentations of technical actuarial work to technical and non-technical audiences, including senior leaders. Partial virtual/work from home benefit available.  

Education & Experience Requirements: 
Position requires a Bachelor’s degree in Actuarial Science, Statistics, Mathematics

or

a related field and 3 years of actuarial experience in the Group life and health insurance industry.

Required Skills: 
Must have experience with: Disability plan designs and their associated risk; Group Disability contract limitations and exclusions; Group risk characteristics; economic, behavioral, and health trends that impact disability risk; claims management practices; and different types of reserves such as disabled life, incurred but not reported (IBNR), and reopen. 

Eligible for Employee Referral Program. 

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Pay Transparency

Overtime eligible: Exempt 

Discretionary bonus eligible: No 

Sales bonus eligible: No 

Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Our Benefits

We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.

Our Diversity Promise

We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

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Job Requisition ID: 90770