Principal Actuary Casualty

Principal Actuary Casualty
NYSIF (Actuary – New York City)
Salary: $102,979 - $126,476

Description:

The Principal Actuary Casualty will report to the Supervising Actuary or other high-level
actuarial staff and will be responsible for performing the following duties which may include
but will not be limited to:

• Overseeing production of actuarial and accounting exhibits supporting roughly 50 of the
approximately 100 Safety Groups administered and underwritten by NYSIF;
• Manage a team of actuarial staff supporting a defined number of safety groups, 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 monitoring pricing, reserve
and contingent balance levels for designated safety groups;
• Work with underwriting and senior management to develop sound models and
standards for the declaration of dividends to individual safety groups;
• Incorporate the effects of the latest industry loss cost filings into pricing, reserve,
dividend and contingent balance projects for individual safety groups;
• Assist in the evaluation of pricing levels, administrative charges and excess insurance
charges for designated safety groups;
• Advise and assist business partners with actuarial and mathematical techniques and
complete analytical assignment to support business decision making;
• 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;
• Provide support to external safety groups and their respective managers to assist in the
management of each group.

Basic Qualifications
Reachable on current Civil Service list for this title; one year of permanent, competitive class
service as a Principal Actuary Casualty; or, one year of permanent, competitive class service in
a title eligible for transfer under Section 52.6 of the Civil Service Law; and must also meet all
the following requirements:
• A bachelor’s degree or higher; AND
• Successful completion of four examinations of the Casualty Actuarial Society; AND
• Four 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, candidates who meet the
requirements listed above must complete a NYS-application form to apply for list eligibility.
Please visit the Department of Civil Service website here for more information on how to apply: https://www.cs.ny.gov/announ/applications.cfm. 

Preferred Qualifications
Preferred qualifications include being at least an Associate of the Casualty Actuarial Society
(ACAS) and/or a member of the American Academy of Actuaries (MAAA).

Primary Location: New York City
Travel: Minimal
Telecommuting: NYSIF has a Telecommuting Program

To Apply: Please email resume and cover letter to hrexec@nysif.com

Please note the following New York State Civil Service employment information:
• Jurisdictional classification: Competitive
• Bargaining unit: PEF
• Civil Service title: Principal Actuary Casualty

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 marketplace 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 139,000 policyholders, with more than $1.8 billion in annual earned premium and over $22 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 56,000 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.