New York State has approximately 24 positions* in this title statewide. You may view a breakdown of positions by county. This position exists in various agencies statewide. View links to all New York State agencies including agencies that have this title. For more information, New York State employees can contact the Career Mobility Office at (518) 485-6199 or (800) 553-1322. If you are not a current New York State employee, you can use the Department of Civil Service Web site to explore possible employment opportunities.
*The number of positions is approximate and represents the number of positions established (both filled and vacant); it is not an indication or reference to position type or duration, or intent to be filled. If you are viewing a trainee title, please note this number reflects the number of positions established at the journey level. Agencies may fill at the trainee level(s) or at the journey level based on employee qualifications. GOT-IT does not provide information on any job postings or job availability. For information on current job postings, please visit State Jobs NY. You may also visit specific New York State Agency websites for information about an agency and its job opportunities.
A listing of titles that are most commonly used as steps for upward mobility for this title series. The salary schedule for this career ladder is also available.
Similar to Grade 13
Upon successful completion of 12 months as Actuary Trainee, you will automatically advance to Assnt Actuary.
Note on Traineeships: When current State employees with prior graded State service transition into traineeships, there will be cases where these individuals will be compensated at a higher rate than the hiring rate of the "equated salary grade" of a traineeship. Specifically, in these cases, the starting compensation of a traineeship will be the higher of either: 1) the hiring rate of the "equated salary grade;" or 2) an employee's current graded salary. For those current State employees with no prior graded service who transition into traineeships, these individuals will be compensated at the hiring rate of the "equated salary grade." Overall, because of the various intricacies associated with the State's salary mechanics, the Office of the State Comptroller should be consulted regarding the actual compensation paid to any State employee transiting to a traineeship.
As an Actuary Trainee in the NYS Department of Financial Services, you may assist in checking approximate methods submitted by companies in valuing various categories of policies, special benefits, or special liability items. You may check reserve formulae, methods and calculations, and assist in the preparation of valuation memoranda for periodic examination of domestic companies. You may assist in checking the mathematical accuracy of calculations presented with agents' compensation plans, separate account filings, and actuarial projections. You may participate in field examinations of life insurance companies, fraternal benefit societies, retirement systems, Health Maintenance Organizations, commercial carriers, and non-profits. Using spreadsheet software, you may be asked to develop actuarial exhibits. You may also assist in the review of property/casualty insurance company rate filings and/or reserve analyses for compliance with the standards prescribed by the Insurance Law and Department of Financial Services Regulations. You may assist in checking exhibits used to evaluate the reserves carried by and rates promulgated by property/casualty insurers. You may also assist in preparing meeting notes and maintaining in-house databases.
As an Actuary Trainee with the NYS Insurance Fund, you would apply actuarial theory and methods to the review of claims records and death and disability cases for the purpose of establishing proper estimates or eventual incurred losses. You would compute loss reserves on death and permanent disability cases and calculate the present value of Workers' Compensation cases and the amount payable to claimants in death and disability cases.
As an Actuary Trainee with the NYS Teachers' Retirement System, you would assist higher-level actuaries by checking calculations for fiscal notes and cost estimates for legislation; assist in the analysis of experience studies; check statistics reported in the actuarial and statistical portions of the annual reports to members; and assist in the preparation of the annual valuation of the System's liabilities.
There is no classification standard available at this time for this title. For additional information regarding other titles this will bring you to the NYS Title and Salary Plan. If there is a classification standard available there will be a link under the column labeled STD NO. If no link is available there is no classification standard available at this time for that title.
Please note: qualifications for this position may be subject to change. If substitutions for education and/or experience are allowed, this information would be available on the announcement.
On or before the date of filing your application, you must have a bachelor's degree including 24 semester credit hours in mathematics, statistics, or actuarial science.
Advancement Placement to the Assistant Actuary: You will be required to provide proof of your successful completion of examination from the Society of Actuaries or the Casualty Actuarial Society to the appointing authority at the time of completion. Failure to provide proof to the appointing authority will delay the advancement.
Conditions for Actuarial Traineeship: During the one-year traineeship, appointees will be required to have successfully completed one examination of the Society of Actuaries or the Casualty Actuarial Society. Those trainees who meet the requirements may be advanced to the title of Assistant Actuary without further examination. Those trainees who do not meet this requirement within one year of appointment will have their employment terminated.
For informational purposes only, click on the examination number(s) listed below to see the current or previous examination(s) that are used to fill this title.20-101
When this examination is scheduled to be held, the announcement can be found on the Department of Civil Service, Examination Announcements web page. If you do not see an examination currently scheduled please check back on a monthly basis or sign up for announcement notification by email so that you will automatically be notified when new examinations are being offered.
Career mobility is not just limited to the titles in the Career Ladder, above. Additional movement may be achieved through other examinations, additional education and/or work experience or transfer opportunities. For additional information or clarification of transfer determinations, current State employees should contact the Career Mobility Office. Visit ELMS Online to view established open-competitive, promotion, and transition eligible lists. If you are not a current New York State employee, see Employment Opportunities with New York State and find out how to become a New York State employee.