Review Vacancy
AgencyFinancial Services, Department of
Occupational CategoryFinancial, Accounting, Auditing
Bargaining UnitPS&T - Professional, Scientific, and Technical (PEF)
Salary RangeFrom $41993 to $53606 Annually
Minimum Qualifications Minimum Qualifications: Bachelor's degree including 24 semester credit hours in mathematics, statistics or actuarial science and successful completion of one examination from the Society of Actuaries or Casualty Actuarial Society. Candidates must be reachable on the Civil Service eligible list for Assistant Actuary (#20-104). The examination announcement and application may be found at the following address:
http://www.cs.ny.gov/examannouncements/announcements/oc-cr/decentralized/20-104.cfm
Duties Description • Checking approximate methods submitted by companies in valuing various categories of policies, special benefits, or special liability items;
• Reviewing minimum statutory formula reserves, including the underlying actuarial reserve factors for traditional life, interest sensitive life, annuities, accident and health, and supplementary contracts. Using Microsoft Excel spreadsheets in performing aspects of this duty;
• Checking the mathematical accuracy of calculations presented with agents' compensation plans, separate account filings, and actuarial projections;
• Participating in field examinations of life insurance companies, fraternal benefit societies, retirement systems, Health Maintenance Organizations, commercial carriers, and non-profits;
• Developing actuarial exhibits using spreadsheet software;
• Reviewing of insurance company rate filings and/or reserve analyses for compliance with the standards prescribed by the Insurance Law and Department of Financial Services Regulations;
• Checking exhibits used to evaluate the reserves carried by and rates promulgated by insurers;
• Preparing meeting notes and maintaining in-house databases;
• Automating Department procedures using Microsoft Access databases, Microsoft Excel spreadsheets, or other appropriate software;
• Performing of mathematical, quantitative, or qualitative analysis for special projects that may arise on an ad-hoc basis; and
• Providing support for special projects as assigned.
Some positions may require additional credentials or a background check to verify your identity.