Senior Actuarial Associate

New York Life Insurance Company - Philadelphia, PA.

Provides pricing support and risk analysis for Long-Term Disabilty (LTD) product. Develops and enhances complex actuarial analyses to support LTD profitability, growth, and operational objectives.  Develops and improves pricing methodologies, models, and tools used by Underwriting to determine appropriate premium rates for inforce and takeover business. Performs in-depth reviews of manual rating assumptions and formulas as well as experience rating methodology. Analyzes and enhances pricing formulas, including consideration of emerging trends, to ensure adequacy of prospective full-profit premium rates. Calculates appropriate reserve estimates required for unpaid claim liability. Ensures compliance of all pricing formulas, including state rate filing preparation, certifications, and accurate implementation in rating systems. Develops pricing for new product features or new products as needed. Collaborates with and supports key business partners such as Underwriting, Distribution, Product, Claims, Finance, IT, and Compliance.  Provides case-level pricing support for non-standard product and service requests. Provides clear communications and presentations of technical actuarial work to technical and non-technical audiences, including senior leaders. Partial virtual/work from home benefit available.  

Requires a Bachelor's degree in Actuarial Science, Statistics, Mathematics or a related field and 3 years of actuarial experience in the Group life and health insurance industry. Must have experience with: Disability plan designs and their associated risk; Group Disability contract limitations and exclusions; Group risk characteristics; economic, behavioral, and health trends that impact disability risk; claims management practices; and different types of reserves such as disabled life, incurred but not reported (IBNR), and reopen.

Apply at https://jobs.newyorklife.com, Job #90770