Actuary Trainee/Assistant Actuary (NY HELPS)
About The Position
The Actuary Trainee/Assistant Actuary is a staff member of the Actuarial Department at the New York State Teachers’ Retirement System (NYSTRS), one of the nation’s 10 largest public pension funds. The actuarial team works to maintain a secure, stable pension for system members through the annual actuarial valuation and development of the employer contribution rate. The position is involved in a broad range of actuarial duties and offers opportunities to develop actuarial skills as part of a collaborative team. The Actuary Trainee appointment includes a one-year traineeship. During that period, the appointee must successfully complete one Society of Actuaries or Casualty Actuarial Society examination. Trainees who meet the requirements may advance to Assistant Actuary without further examination; those who do not meet the examination requirement within one year will have their employment terminated. Eligible appointments may be made through the NY HELPS program without an examination, subject to meeting the title's minimum and specialized qualifications. NY HELPS hires are expected to convert to competitive status within one year of permanent appointment without competing in an examination. The current work schedule is hybrid and may change. Sponsorship is not available; applicants must have unrestricted work authorization.
Requirements
- Actuary Trainee: A bachelor’s degree that includes 24 semester credit hours in mathematics, statistics, or actuarial science.
- Actuary Trainee: Successfully complete one Society of Actuaries or Casualty Actuarial Society examination during the one-year traineeship.
- Assistant Actuary: A bachelor’s degree or higher that includes or is supplemented by 24 semester credit hours in mathematics, statistics, and/or actuarial science.
- Assistant Actuary: Successfully complete one Society of Actuaries or Casualty Actuarial Society examination.
- Applicants must hold unrestricted work authorization; sponsorship is unavailable.
Nice To Haves
- Working knowledge of Microsoft Word, Excel, and PowerPoint.
- Excellent oral and written communication skills.
- Ability to organize and prioritize work in a dynamic, complex environment while meeting deadlines and daily requirements.
- Experience with pension valuation programming, ideally ProVal.
- Commitment to providing exceptional customer service.
Responsibilities
- Participate in the annual actuarial valuation of System data, assets, and liabilities to develop the employer contribution rate using ProVal.
- Calculate the System’s annual actuarial gain or loss using ProVal.
- Analyze annual experience studies used to assess the effectiveness of actuarial assumptions.
- Create materials needed for compliance with GASB 67 and GASB 68.
- Participate in preparing fiscal notes for proposed plan-design legislation affecting the System.
- Assist with the New York State Department of Financial Services annual filing.
- Develop information, charts, and graphs for the Actuarial and Statistical section of the System’s Annual Financial Report.
- Work with outside auditors and System accountants to prepare annual financial statements, including actuarial and funding disclosures.
- Analyze actuarial assumptions as needed, typically every five years.
- Prepare annuity values and option factors in accordance with statute, including option factors for alternative options and domestic relation orders.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
