The Supervising Actuary of Workers’ Compensation Pricing will be responsible for overseeing all actuarial pricing related activities of the department.
Responsibilities may include:
Manage and lead the NYSIF Actuarial Pricing team, clarify job responsibilities and performance expectations, establish goals and job competencies, identify skill gaps, create development plans, coach and mentor on a continuous basis and provide performance evaluations.
Design, implement and oversee a continuous process of rate and price monitoring to ensure actuarial soundness in the rates and prices NYSIF charges.
Work with underwriting and senior management to develop sound rate and pricing recommendations.
Analyze and communicate impact of latest industry loss cost filings.
Oversee the maintenance and monitoring of large account pricing models, including evaluating the performance of the models and updating parameters as needed.
Oversee the pricing of specialized products such as retrospective rating plans, large deductibles and other products.
Conduct segment profitability analysis to identify profitability trends by business segment and investigate alternative approaches to segmentation.
Advise and assist business partners with actuarial and mathematical techniques and complete analytical assignment to support business decision making.
Provide actuarial guidance in support of NYSIF’s predictive modeling efforts, especially regarding underwriting initiatives.
Represent the WC Fund on actuarial committees.
Work with and provide guidance to external consultants on matters involving ratemaking, individual account pricing, group pricing, underwriting, capital modeling and asset management.
Perform all work in accordance with Actuarial Standards of Practice as promulgated by the Actuarial Standards Board.
Remain current with respect to new approaches and methods utilized in ratemaking and reserving.
Testify as an expert witness on and assist in the evaluation of proposed regulations and legislation, including the estimation of premium and/or loss impacts on NYSIF and its customers.
A bachelor’s degree or higher; AND Successful completion of five examinations of the Casualty Actuarial Society; AND five years of actuarial experience in one or more of the following activities: actuarial or statistical work for operating units or management; governmental regulatory actuarial functions; OR preforming actuarial computations for reserves, premium rates, and/or policy forms.
As this title is filled by Continuous Recruitment examination, you must complete a NYS-application form to apply for list eligibility. Please visit the Department of Civil Service website: https://www.cs.ny.gov/examannouncements/announcements/oc-cr/decentralized/20-123.cfm for more information on how to apply.
Preferred qualifications include candidate to be an Associate or Fellow of the Casualty Actuarial Society (ACAS or FCAS) and a member of the American Academy of Actuaries (MAAA).
To Apply: Please email resume, cover letter, Application for Examination, and transcripts to the following address: email@example.com. If necessary, candidates may also mail the information to: New York State Insurance Fund, 15 Computer Drive West, Albany, NY 12205.
Please note the following New York State Civil Service employment information:
Jurisdictional classification: Competitive
Bargaining unit: Management/ Confidential
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.
About New York State Insurance Fund
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.