Actuary jobs in Yonkers, NY

Position Summary

This position is for a nontraditional actuarial role in a line of insurance business that sits at the intersection of insurance, banking and investments. The individual will be a contributor to a small team responsible for setting loss reserves on insurance exposures and performing valuation work for the Company’s difficult to value investment and derivative contracts. The individual will also perform regulatory and compliance tasks for actuarial and analytical reporting requirements in the Company’s various jurisdictions. The position involves frequent opportunities to work with other company functions, such as Risk Management, Surveillance, Accounting and Loss Mitigation. This role will require the ability to effectively communicate work processes and results to internal and external stakeholders as well as members of senior management.

Position Description

Loss Reserving Process:

• Review, update, create and summarize internal and external loss models for the Company’s expected losses and recoveries
• Prepare supporting material on reserves and loss experience, communicate results to senior management and company directors, assist Accounting with booking and documenting reserves and valuations

Valuation Processes

• Assist with running the company’s mark to market model and process for difficult to value derivative contracts
• Assist with the company’s investment valuation process

Regulatory and Compliance

• Prepare regulatory documents including actuarial opinions (and supporting documents), Solvency II workpapers and statutory filings
• Produce documentation for and respond to queries from regulators and auditors

Other Functions

• Participate in the company’s Loss Mitigation process by performing analyses and providing support for negotiations
• Produce underwriting analyses and profitability studies
• Provide model review and analytical support to various company functions

• Candidate Background

• FCAS or near FCAS (or equivalent in other actuarial societies)
• Experience working in an actuarial or analytical role at a (re)insurance company, consultancy or audit firm
• Proficient in Microsoft Excel, particularly with creating and reviewing loss models
• Ability to discuss and explain complex insurance and/or financial products to various audiences
• Experience interacting and building solid networks within an organization
• Proven ability to manage multiple workstreams and learn new topics independently
• Basic knowledge of one or more programming languages as well as experience using financial software or tools (e.g., Bloomberg, Intex) a plus
• Knowledge and acumen with securities markets, public and structured finance and/or credit a plus