PRINCIPAL ACTUARY CASUALTY SALARY: $95,136 - $116,844 LOCATION: NYC
Illustrative Duties: The Principal Actuary Casualty may report to a Supervising Actuary, Chief Actuary or other high-level actuarial staff and may be responsible for performing the following duties which may include but will not be limited to:
• Overseeing the monthly booking and review of workers’ compensation loss and loss adjustment reserves. • Calculate indicated loss reserves. • Coordinate with and support external actuaries • Analyze claim trends and drivers. • Develop monthly, quarterly and annual financial reports. • Review rates and rate structure. • Analyze, investigate and assist in the development of new products and contracts. • Preparation of reports to rating bureaus and regulatory agencies. • Calculation of ATF fatal, permanent disability & permanent partial claim deposits. • Prepare cashflow projections for the Worker’s compensation and Aggregate Trust Funds. • Develop analytics, models and presentations to support executive level decision making. • Advise and assist business partners in the use of actuarial and mathematical techniques to analyze the business. • Manage staff of junior actuaries and/or non-actuarial staff.
To Apply: Candidates should email their cover letter, resume and Application for Examination to email@example.com or mail to the following address: The New York State Insurance Fund, Attn: Human Resources 15 Computer Drive West Albany, NY 12205
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 market place 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 10 largest workers’ compensation carriers in the nation, insuring approximately 155,000 policyholders, with more than $2 billion in annual premium and $18 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 61,000 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.
Please note the following New York State Civil Service employment information: SALARY GRADE: SG-28 JURISDICTIONAL CLASSIFICATION: Competitive BARGAINING UNIT: Public Employees' Federation (PEF)
Pursuant to Executive Order 161, no State entity, as defined by the Executive Order, is permitted to ask, or mandate, in any form, that an applicant for employment provide his or her current compensation, or any prior compensation history, until such time as the applicant is extended a conditional offer of employment with compensation. If such information has been requested from you before such time, please contact the Governor’s Office of Employee Relations at (518) 474-6988 or via email at firstname.lastname@example.org.
Minimum Qualifications: Bachelor’s degree, successful completion of at least four (4) examinations from the Casualty Actuarial Society and four years of actuarial experience. The Application for Examination may be accessed through the following link: https://www.cs.ny.gov/extdocs/pdf/20-113.pdf. Candidates must complete and submit the Application for Examination appropriate for this position.
Preferred Qualifications: Preferred qualifications include being an Associate of the Casualty Actuarial Society (ACAS) and membership in the American Academy of Actuaries (MAAA).
About New York State Insurance Fund (NYSIF)
The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York Workers’ Compensation Law. The Fund’s mission is to guarantee the availability of workers' compensation insurance at the lowest possible cost to employers, while maintaining a solvent fund, as well as to provide timely and appropriate indemnity and medical payments to injured workers. NYSIF is a self-supporting insurance carrier that competes with private insurers in both the workers’ compensation and disability benefits markets in New York State. With 155,000 policyholders, over $2 billion in annual premium and $17 billion of assets, NYSIF is the largest workers’ compensation carrier in the state and among the top five largest workers’ compensation carriers in the nation. NYSIF provides disability benefits coverage for off-the-job injuries to more than 61,000 New York employers.