Position Information

NY HELPNo

AgencyFinancial Services, Department of

TitlePrincipal Actuary (Life)

Occupational CategoryFinancial, Accounting, Auditing

Salary Grade28

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

Salary RangeFrom $89649 to $110105 Annually

Employment Type Full-Time

Appointment Type Permanent

Jurisdictional Class Competitive Class

Travel Percentage 0%

Schedule

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? No

Location

County Albany

Street Address One Commerce Plaza

City Albany

StateNY

Zip Code12257

Job Specifics

Minimum Qualifications Appointment methods:


List Appointment:

Candidates must be reachable on the Civil Service eligible list for Principal Actuary Life (#20-120).

If you are not yet on the eligible list for this title, the examination announcement and application can be found using the link below. Successful candidates will have their names added to the eligible list based on final score and will be eligible for appointment to this position if their score is immediately reachable or for future appointments at the time their score does become reachable. There is an ongoing need for persons qualified for appointment to this title and applications are accepted at any time.

http://www.cs.ny.gov/examannouncements/announcements/oc-cr/decentralized/20-120.cfm






If you would like to apply for the Continuous Recruitment Examination for Principal Actuary (Life), please complete the Examination Application materials, found here:

https://www.cs.ny.gov/extdocs/pdf/20-115.pdf, and return them, along with a copy of your collegiate transcripts, to the address below:

NYS Department of Financial Services
One Commerce Plaza
Human Resources Management, Room 2016
Albany, NY 12257
Human-resources@dfs.ny.gov

Transfer:

Candidates must have a Bachelor’s Degree, successful completion of at least four courses from the Society of Actuaries, four years of actuarial experience AND one year of permanent competitive service in a title eligible for transfer via Section 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 or one “M” grade.

Duties Description The Department of Financial Services is seeking candidates for the position of Principal Actuary (Life) in the Health Bureau. Under the supervision of a Supervising Actuary (Life) and/or a Chief Life Actuary 3, the duties of the position will include, but not be limited to, the following:

• Reviewing premium rate filings of individual and group accident and health products of health maintenance organizations, not-for-profit corporations, and commercial medical and dental insurers in connection with (i) new policy submissions or (ii) premium rate increase requests in order to determine compliance with statutes, regulations and guidelines. This includes the analysis of the actuarial information and loss ratios supporting the rate applications, and recommendations to Bureau management as to the reasonableness of the rate applications submitted to the Department;
• Identifying and developing rating material and supporting exhibits to be submitted by companies under the rate application process, assisting with standardizing the process and addressing issues related to confidential information;
• Reviewing and verifying material provided to the Department via SERFF and from other sources that is required to be submitted to the U.S. Department of Health and Human Services (HHS) under the Federal Grant program. This includes rating information and disclosure information required by HHS;
• Reviewing Federal Medical Loss Ratio (MLR) rebate calculations and coordinating the Federal calculation with State-based statutory rebate calculations where the State has stricter standards for such rebates. This includes the preparation of summary reports for all companies, and the development of recommendations to Business Unit management as to modifications in the content of the current loss ratio reports and instructions;
• Reviewing and analyzing actuarial aspects of commission submissions, experience rating formula submissions, and other analyses as required by Bureau Management;
• Determining proper reserve basis for insurers providing accident and health insurance coverage;
• Investigating complaints on rates and actuarial related matters;
• Assisting in overseeing the Business Unit’s development of new or revised requirements (e.g. regulation/legislation) regarding policy for requirements, asset/liability management, risk management, capital markets issues, and minimum statutory formula reserves;
• Meeting with representatives of the insurance industry, trade groups, other governmental agencies and Department personnel to discuss rating issues and explain or advocate the Department’s or Bureau’s position, and participating on workgroups within the Department or with the industry, NAIC or other governmental agencies;
• Attending and participating in Seminars/Conferences/Training Sessions, communicating the Bureau’s practices and procedures to interested parties;
• Assisting in the preparation and review of model laws, regulations and guidelines on actuarial matters;
• Training and supervising actuaries and assist with the management of a unit; and,
• Performing actuarial studies, developing management reports, and other tasks as assigned.


Additional duties information will be discussed at the time of the interview.

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

Contact Information

Name Kathy Mix

Telephone 518-486-4619

Fax 518-402-5071

Email Address kathleen.mix@dfs.ny.gov

Address

Street One Commerce Plaza

City Albany

State NY

Zip Code 12257

 

Notes on ApplyingInterested qualified candidates must submit a resume and letter of interest no later than January 13, 2017, to Kathy Mix. Please include the Box # (Box HEA-05018) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.