Corporate Vice President, Finance, Individual Disability Insurance Valuation Act
Job Requisition ID: 93314
Location Designation: Fully Remote
Individual Disability Insurance Valuation Actuary
Corporate Vice President & Actuary (PF5)
Location: Remote
The newly created Individual Disability Insurance (IDI) department is looking for a motivated individual to help manage the valuation function of the flagship product, MyIncome Protector, and help launch additional disability initiatives. As one of the early members of the IDI team, you will have the unique opportunity to help grow a new business at New York Life, which released its first product in October 2021. This position will work with individuals across business functions (e.g., product management, marketing, compliance, agency) and finance functions (e.g., accounting, corporate actuarial) as well as with New York Life’s partners (e.g., reinsurer, third-party administrator) on the development and maintenance of a valuation platform and calculation of reserves and other financial reporting requirements of the IDI product line. This role requires excellent actuarial skills, decision-making ability, and the ability to work autonomously and collaborate effectively across the Company.
What You'll Do:
• Development and maintenance of valuation models and related tools
• Valuation assumption setting and maintenance of appropriate assumptions as experience emerges
• Calculation of active life and disabled life reserves, along with establishment of procedures to establish other reserves such as incurred but not reported (IBNR) reserves
• Working with the product and pricing team, to implement new initiatives into the valuation model
• Working closely with Finance and third-party administrator to ensure required reserve information is accurate and can be incorporated into the valuation model
• Assist with the creation of management reports, and generation of insights on subjects such as morbidity, lapse, and asset performance
• Collaborating with Finance, CFO, and Controller to understand the drivers of earnings and emerging trends
• Partner with the pricing team to begin development of experience studies
What You'll Bring:
• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or a related field
• 6+ years of actuarial experience, preferably in insurance, financial services, or consulting.
• Actuarial credentials required; FSA preferred
• Familiarity with U.S. Statutory financial reporting and management reporting, as they pertain to products with a morbidity component (Individual Disability, Long Term Care, or Group Disability products)
• Experience with Prophet actuarial modeling software is a plus
• Strong business partnering and communications skills
• Excellent project management skills, including ability to manage multiple complex priorities simultaneously and meet demanding deadlines
• Ability to work independently and to research solutions and best practices
• Professional integrity
Job Level: LEVELPF5
Pay Transparency
Salary Range: $133,000-$190,000
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.
Our Benefits
We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.Click hereto discover more about our comprehensive benefit options or visit our NYL Benefits Site.
Our Commitment to Inclusion
At New York Life, fostering an inclusive workplace is fundamental to who we are and how we serve our communities. We have a longstanding commitment to creating an environment where individuals can contribute their best and succeed together. This foundation is rooted in our core values of humanity and integrity, ensuring that every employee feels valued and supported. By embracing a broad range of perspectives and experiences, we achieve greater success and fulfill our promise of providing financial security and peace of mind to families across all communities. Click here to learn more about New York Life’s leadership in this space.
Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.
Job Requisition ID: 93314
Apply Now
Apply Now
Location Designation: Fully Remote
Individual Disability Insurance Valuation Actuary
Corporate Vice President & Actuary (PF5)
Location: Remote
The newly created Individual Disability Insurance (IDI) department is looking for a motivated individual to help manage the valuation function of the flagship product, MyIncome Protector, and help launch additional disability initiatives. As one of the early members of the IDI team, you will have the unique opportunity to help grow a new business at New York Life, which released its first product in October 2021. This position will work with individuals across business functions (e.g., product management, marketing, compliance, agency) and finance functions (e.g., accounting, corporate actuarial) as well as with New York Life’s partners (e.g., reinsurer, third-party administrator) on the development and maintenance of a valuation platform and calculation of reserves and other financial reporting requirements of the IDI product line. This role requires excellent actuarial skills, decision-making ability, and the ability to work autonomously and collaborate effectively across the Company.
What You'll Do:
• Development and maintenance of valuation models and related tools
• Valuation assumption setting and maintenance of appropriate assumptions as experience emerges
• Calculation of active life and disabled life reserves, along with establishment of procedures to establish other reserves such as incurred but not reported (IBNR) reserves
• Working with the product and pricing team, to implement new initiatives into the valuation model
• Working closely with Finance and third-party administrator to ensure required reserve information is accurate and can be incorporated into the valuation model
• Assist with the creation of management reports, and generation of insights on subjects such as morbidity, lapse, and asset performance
• Collaborating with Finance, CFO, and Controller to understand the drivers of earnings and emerging trends
• Partner with the pricing team to begin development of experience studies
What You'll Bring:
• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or a related field
• 6+ years of actuarial experience, preferably in insurance, financial services, or consulting.
• Actuarial credentials required; FSA preferred
• Familiarity with U.S. Statutory financial reporting and management reporting, as they pertain to products with a morbidity component (Individual Disability, Long Term Care, or Group Disability products)
• Experience with Prophet actuarial modeling software is a plus
• Strong business partnering and communications skills
• Excellent project management skills, including ability to manage multiple complex priorities simultaneously and meet demanding deadlines
• Ability to work independently and to research solutions and best practices
• Professional integrity
Job Level: LEVELPF5
Pay Transparency
Salary Range: $133,000-$190,000
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.
Our Benefits
We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.Click hereto discover more about our comprehensive benefit options or visit our NYL Benefits Site.
Our Commitment to Inclusion
At New York Life, fostering an inclusive workplace is fundamental to who we are and how we serve our communities. We have a longstanding commitment to creating an environment where individuals can contribute their best and succeed together. This foundation is rooted in our core values of humanity and integrity, ensuring that every employee feels valued and supported. By embracing a broad range of perspectives and experiences, we achieve greater success and fulfill our promise of providing financial security and peace of mind to families across all communities. Click here to learn more about New York Life’s leadership in this space.
Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.
Job Requisition ID: 93314
Apply Now
Apply Now