Review Vacancy
TitleSenior Actuary Casualty (NY HELPS)
Occupational CategoryFinancial, Accounting, Auditing
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $71923 to $90432 Annually
Minimum Qualifications • A bachelor's degree or higher including or supplemented by 24 semester credit hours in mathematics, statistics, and/or actuarial science; AND
• Successful completion of one examination of the Casualty Actuarial Society; AND
• One year of actuarial experience.
OR: one year of permanent competitive service in a title eligible for transfer via Section 70.1 or 52.6 of the Civil Service Law.
Please be advised that the New York State Insurance Fund does not offer sponsorship for employment visas to employees or potential employees. Candidates sponsored for employment by an organization should be aware of their sponsorship status and the relevant expiration date(s) of that sponsorship before applying to this position.
Duties Description The Actuarial Department of the New York State Insurance Fund (NYSIF) is seeking a Senior Actuary Casualty to perform work related to Disability Insurance pricing.
Responsibilities include, but are not limited to:
• Assembling data from IT and other internal and external sources.
• Performing actuarial calculations related to pricing, underwriting, and loss and expense reserves for Disability and Paid Family Leave (PFL) insurance.
• Conducting experience studies on various topics related to disability insurance, such as claim frequency and severity analysis.
• Learning and utilizing analytical tools and query languages such as Spotfire, ResQ, and SQL.
• Automating various processes using VBA, Access, and other software tools to achieve greater efficiencies.
• Analyzing and identifying loss drivers and trends for the Disability and PFL products.
• Preparing internal and external reports such as those required by the New York Compensation Insurance Rating Board and the Department of Financial Services.
• Other projects as assigned on an ad hoc basis.
Additional Comments Please note, the salary range shown includes location pay and/or geographic pay.
For new State employees appointed to graded positions, the annual salary is the hiring rate (beginning of the Salary Range) of the position. Promotion salaries are calculated by the NYS Office of the State Comptroller in accordance with NYS Civil Service Law, OSC Payroll rules and regulations and negotiated union contracts.
NYSIF has a telecommuting program.
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. At this time, agencies may recruit and hire employees by making temporary appointments. In May 2024, if a temporary NY HELPS employee is satisfactorily performing in the position, the appointment will be changed from temporary pending Civil Service Commission Action to permanent non-competitive and the official probationary period will begin.
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.
Fringe Benefits:
• Competitive Compensation.
• Future Career Growth Potential.
• Open and Supportive Team-Based Environment.
• Plentiful Vacation, Personal, and Sick Leave Accruals.
• Paid State and Federal Holidays.
• Full Medical, Vision, and Dental.
• Retirement Options.
• Possibility of Telecommuting, Flextime, and Alternative Work Schedules.
NYSIF Commitment to Diversity, Equity, and Inclusion
The New York State Insurance Fund (NYSIF) prioritizes and champions diversity, equity, and inclusion (DEI) throughout our agency. NYSIF provides equal opportunities to all employees and applicants for employment without regard to race, religion, color, age, sex, national origin, sexual orientation, gender identity, disability, veteran status, or any other protected category under federal, state, and local law. We believe that embracing our differences brings richness, new ideas and experiences to NYSIF, which energizes a creative and innovative work environment. We strive to foster a workplace where diverse individuals are able to participate fully in the decision-making process and have ample opportunity for advancement. We are committed to investing the necessary resources and attention to improving the engagement, retention, and promotion of the extraordinary talent we have.
About NYSIF
The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York State Workers’ Compensation Law. NYSIF's mission is to guarantee the availability of workers’ compensation insurance at the lowest possible cost to New York employers and to provide timely, appropriate indemnity and medical payments to injured workers, while maintaining a solvent fund. Since inception, NYSIF has fulfilled the dual roles for which it was created: to compete with other carriers to ensure a fair marketplace and to be a guaranteed source of coverage for employers who cannot secure coverage elsewhere.
NYSIF is the largest workers’ compensation carrier in New York State and among the top ten largest workers’ compensation carriers in the nation, insuring approximately 131,000 policyholders, with more than $1.6 billion in annual earned premium and over $22 billion in assets. A self-supporting insurance carrier, NYSIF operates without taxpayer funding.
In addition to workers’ compensation insurance, NYSIF provides disability benefits coverage for off-the-job injuries to more than 57,500 New York employers. In 2018, NYSIF added paid family leave as a component of its disability benefits product, providing New Yorkers with job-protected, paid time away from work to care for their families.
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