Corporate Vice President, Finance, Individual Disability Insurance Valuation Actuary

New York Life • New York, NY

27d • Remote

About The Position

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.

Requirements

• 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)
• 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

Nice To Haves

• Experience with Prophet actuarial modeling software is a plus

Responsibilities

• 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

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.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level