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Review Vacancy

Date Posted 12/15/16

Applications Due12/30/16

Vacancy ID35297

AgencyInsurance Fund, State

TitleChief Actuary

Occupational CategoryAdministrative or General Management

Salary GradeNS

Bargaining UnitM/C - Management / Confidential (Unrepresented)

Salary RangeFrom $200000 to $200000 Annually

Employment Type Full-Time

Appointment Type Permanent

Jurisdictional Class Exempt Class

Travel Percentage 10%

Workweek Mon-Fri

Hours Per Week 37.50

Workday

From 8 AM

To 5 PM

Flextime allowed? No

Mandatory overtime? No

Compressed workweek allowed? No

Telecommuting allowed? No

County New York

Street Address 199 Church Street

City New York

StateNY

Zip Code10007

Minimum Qualifications Must be a Fellow of Casualty Actuarial Society (FCAS) and possess a Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, or a related field. Membership of American Academy of Actuaries (MAAA), and/or, a Master’s Degree in Actuarial Science, Mathematics, Statistics, or related field are preferred, but not required. Candidates must have a minimum of ten (10) years of relevant actuarial experience, including five (5) years supervisory experience.

Duties Description The New York State Insurance Fund Chief Actuary will oversee the Actuarial Department which is charged with maintaining the financial stability of the Fund and determining proper reserves to be set up and proper rates to be charged. The Actuarial Department currently employs 47 employees and includes three divisions; Financial Reporting, External Liaison, and Research and Analysis.

Duties include, but are not limited to the following:
• Participates in and reviews computation of NYSIF's loss reserves in conjunction with NYSIF’s Actuarial Consulting Services contractor to arrive at final figures for the Workers’ Compensation Fund, the Disability Benefits Fund, and the Aggregate Trust Fund.
• Advises the NYSIF Board of Commissioners on matters affecting rates and rating plans.
• Advises NYSIF Executive Staff and workers’ compensation and disability program specialists of research and analysis on any proposed changes including the actuarial and administrative impact of proposed policy decisions and legislation, whether due to changes in the law or regulatory agency procedures and processes.
• Independently responsible for communicating NYSIF’s positions by producing various reports both internally for executive staff and externally for agencies such as the Department of Financial Services (DFS).
• Serves on the New York Compensation Insurance Rating Board (NYCIRB) Actuarial Committee and other professional committees, as needed.
• Analyzes proposed new products providing agency executives with sound analysis upon which to base their management decisions.
• Responds to questions from outside parties regarding actuarial computations and the law.
• Testifies as an expert witness before the Workers’ Compensation Board and the courts.

• Responsible for meeting all actuarial needs of the Aggregate Trust Fund (ATF) including reserving and calculating commutation values.
• Responsible for processing and analyzing safety group dividends, retrospective plan premium adjustments, and New York Compensation Insurance Rating Board (NYCIRB) promulgated experience modifications.

Additional Comments The salary for this position is $200,000+.

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

Name Peggy Raymond

Telephone 518-437-6176

Fax 518-437-1618

Email Address hr@nysif.com

Address

Street 15 Computer Drive West

City Albany

State NY

Zip Code 12205

 

Notes on ApplyingPlease submit resume and proof of credentials when applying for this position.

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