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Supervising Actuary CasualtyInsurance Fund, State - New York, NY
posted 30+ days ago

Minimum Qualifications:
Reachable on current Civil Service list for this title or one year of permanent, competitive class service as a Supervising Actuary Casualty, or one year of permanent competitive class service in a title eligible for transfer under Section of the Civil Service Law and must also meet the following requirements: 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 performing 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 for more information on how to apply:

Preferred Qualifications:
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).

Duties Description
The Supervising Actuary of Workers’ Compensation Pricing will be responsible for overseeing all actuarial related activities of NYSIF’s safety group unit within the Actuarial Department. Safety Groups constitute approximately 40% of NYSIF’s portfolio.

Responsibilities may include, but are not limited to:
  • Manage and lead the Safety Group Actuarial 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 price and solvency monitoring to ensure actuarial soundness in safety group rates, excess charges, expense charges and dividends.
  • Work with underwriting and senior management to develop an actuarially sound approach to determining and declaring dividends for all safety groups.
  • Develop ultimate loss projections for over 100+ safety groups and translate those projections into dividend recommendations.
  • Advise and assist business partners with actuarial and mathematical techniques and complete analytical assignment to support business decision making.
  • Work with and provide guidance to external consultants on matters involving safety groups loss and price trends, financial solvency, dividend payments, accounting statements, underwriting decisions and new programs.
  • 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.

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