Senior Actuary Casualty, SG-19

Job description

The New York Department of Financial Services is dedicated to building an equitable, transparent, and resilient financial system that benefits New Yorkers and supports business. Through engagement, data‑driven regulation, and operational excellence, DFS empowers consumers, protects them from financial harm, ensures the health and stability of the entities we regulate, drives economic growth through responsible innovation, and preserves the stability of the global financial system.

Duties

Accumulates and reconciles internal company loss data with financial statement data;

Assists in establishing and testing the adequacy of loss and loss adjustment expense reserves;

Prepares exhibits displaying selected ultimate estimates, premiums, and loss ratios, and property/casualty reserves;

Reviews ratemaking procedures;

Examines filings to ensure that standard actuarial techniques were used;

Analyzes insurance companies’ premium trends, expense ratios, loss development factors, and profit provisions;

Assists in reviewing routine rate submissions;

Communicates with companies to get additional information on incomplete or inaccurate filings;

Creates and maintains graphs, spreadsheets, and reports;

Assists in preparing reports related to premium rate derivation; prepares various calculations approved by higher‑level staff;

Explains actuarial computations to staff, policyholders, and their representatives;

Analyzes case reserves and recommends that certain calculations be final or interim;

Responds to data requests from outside entities.

Minimum Qualifications

A bachelor’s degree or higher, supplemented by 24 semester credit hours in mathematics, statistics, and/or actuarial science;

Successful completion of one examination of the Casualty Actuarial Society;

One year of actuarial experience.

Salary and Benefits

Salary: $70,579 – $89,645. Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are eligible to receive an additional $4,000 annual downstate adjustment.

Appointment Status: Permanent & Contingent Permanent.

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Worksite address

albany, OR, 97321, US

Who can apply

Review the original listing for work authorization, qualifications and employer requirements.