Position Information

NY HELPYes

AgencyFinancial Services, Department of

TitleAssociate Actuary Life, SG-24

Occupational CategoryFinancial, Accounting, Auditing

Salary Grade24

Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)

Salary RangeFrom $91298 to $115252 Annually

Employment Type Full-Time

Appointment Type Contingent Permanent

Jurisdictional Class Competitive Class

Travel Percentage 0%

Schedule

Workweek Mon-Fri

Hours Per Week 37.5

Workday

From 8 AM

To 6 PM

Flextime allowed? No

Mandatory overtime? No

Compressed workweek allowed? No

Telecommuting allowed? Yes

Location

County To Be Determined

Street Address Albany - One Commerce Plaza

NYC - One State Street

City Albany or NYC

StateNY

Zip Code12257

Job Specifics

Duties Description The New York Department of Financial Services seeks to build an equitable, more transparent and resilient financial system that benefits New Yorkers and supports business. Through engagement, data-driven regulation, and operational excellence, DFS is responsible for empowering consumers and protecting them from financial harm; ensuring the health and stability of the financial entities we regulate; driving economic growth through responsible innovation; and preserving the stability of the global financial system.

DFS is seeking candidates of varying experience and skill levels for various actuarial positions in the Life and Health Bureaus. The Life and Health Bureaus are responsible for the supervision and regulation of the entire life and health insurance industries in New York State and does so by establishing standards for financial solvency, market conduct and corporate oversight and produces regulations, while monitoring the compliance of regulated entities with such standards.

As an Actuary in the NYS Department of Financial Services, you will supervise, review, or assist in the review of actuarial issues related to pricing, solvency, and market conduct of life and health insurers conducting business in New York State. Duties include, but are not limited to, the following:

• Reviews and approves credit life, credit disability, and credit unemployment insurance filings such as rates, rating plans, and policy forms for compliance with applicable regulations;
• Reviews and tests the adequacy of rate adjustment applications;
• Produces or checks the annual actuarial valuation, experience studies, and actuarial liability and cost calculations for fiscal notes;
• Analyzes actuarial gains and losses of operations;
• Assists companies to resolve actuarial problems and develop and implement rates;
• Audits reserve valuation and valuation methods for compliance;
• Assists in monitoring compliance with statutory accounting requirements;
• Assists in the review of insurer rates, non-guaranteed elements, illustrations, and actuarial aspects of policy forms;
• Reviews minimum statutory formula reserves;
• Investigates complaints on premium matters;
• Analyzes new and amended regulations;
• Reviews community rate adjustment applications of HMOs and health insurers;
• Participates in field examinations of life and health insurance organizations and fraternal benefit societies;
• Performs premium rate reviews for new contracts for all types of health insurance;
• Prepares new actuarial tables, including the construction and graduation of the experience rates;
• Prepares, tests, and runs the gain/loss analysis and experience studies;
• Assists in the supervision of consultants and supervises lower-level actuaries; and
• Assists in overseeing the development of new or revised requirements for policy form requirements, asset/liability management, and risk management.

Minimum Qualifications Appointment method:

Minimum Qualifications: On or before the date of filing your application, you must have all of the following:
• A bachelor's degree or higher; AND
• Successful completion of two examinations of the Society of Actuaries; AND
• Three 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;
• governmental or private pension actuarial functions; OR
• performing actuarial computations for reserves, premium rates, and/or policy forms.

NY HELPS: 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 maybe filled via a non-competitive appointment, which means no examination is required but all candidates must meet the minimum qualifications of the title for which they apply (see minimum qualifications above). At this time, agencies may recruit and hire employees by making permanent non-competitive appointments.

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. Employees will then be afforded with all of the same rights and privileges of competitive class employees of New York State. While serving permanently in a NY HELPS title, employees may take part in any promotion examination for which they are qualified

Transfer: Candidates must have one year of permanent competitive service in a title eligible for transfer via Section 70.1 or 52.6 of the Civil Service Law. Information regarding transfer eligibility may be available on the Civil Service Career Mobility Office website at http://careermobilityoffice.cs.ny.gov/cmo/.

Please Note that under Civil Service Law, an employee cannot have two consecutive upward 70.1 or 52.6 transfers without an intervening eligible list appointment if such transfers would exceed two salary grades.

Additional Comments Please note that a change in negotiating unit may affect your salary, insurance and other benefits.
Salary: $91,298 - $115,252

Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are also eligible to receive an additional $4,000 annual downstate adjustment.
Appointment Status: Permanent & Contingent Permanent

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

How to Apply

Name Tidiane Conde

Telephone

Fax (518) 402-5071

Email Address human-resources@dfs.ny.gov

Address

Street One Commerce Plaza

Suite 301

City Albany

State NY

Zip Code 12257

 

Notes on ApplyingTo Apply: Interested qualified candidates must submit a resume, letter of interest and an unofficial copy of their transcripts including undergraduate, SOA, and/or CAS no later than December 31, 2025 to the email address listed below. Please include the Box # (Box ACT25LFE) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.


Please be advised that the New York State Department of Financial Services does not offer sponsorship for employment visas.

Tidiane Conde
Box ACT25LFE
New York State Department of Financial Services
Office of Human Resources Management
One Commerce Plaza, Suite 301
Albany, NY 12257
Email: human-resources@dfs.ny.gov
Fax: (518) 402-5071

All candidates that apply may not be scheduled for an interview


Public Service Loan Forgiveness
Employment with New York State qualifies an individual for Public Service Loan Forgiveness (PSLF). This program forgives the remaining balance on any Direct Student Loans after you have made 120 qualifying monthly payments while working full-time for a U.S. federal, state, local, or tribal government or not-for-profit organization. To learn more about the program and whether you would qualify, please visit: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service




AMERICANS WITH DISABILITIES ACT: REASONABLE ACCOMMODATIONS
Under the Americans with Disabilities Act (ADA), the Department of Financial Services is required to provide reasonable accommodation for known physical or mental limitations of an otherwise qualified applicant with a disability if an accommodation would enable the applicant to perform the essential functions of the job. If the accommodation would constitute an undue hardship on the operations of the agency, the agency is not required to provide it.

All people with disabilities are encouraged to apply to all jobs for which they meet the minimum qualifications.