Assnt Actuary - Grade 14
Positions in this title can be hired through NY HELPS
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Positions
This title exists within Various New York State Agencies and has approximately 24 positions statewide.
*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.
Career Ladder
A listing of titles that are most commonly used as steps for upward mobility for this title series.
| Title | Grade | Hiring Rate/yr | Job Rate/yr |
|---|---|---|---|
| Actuary Trainee | 13 | $50,844 | $65,061 |
| Assnt Actuary | 14 | $53,764 | $68,630 |
| Senr Actuary Casualty | 19 | $70,579 | $89,645 |
| Assoc Actuary Casualty | 24 | $91,298 | $115,252 |
| Prin Actuary Casualty | 28 | $112,528 | $138,203 |
| Supvg Actuary Casualty | 64 | $123,793 | $156,224 |
| Chief Casualty Actuary 3 | 65 | $137,457 | $173,664 |
| Chief Casualty Actuary 2 | 66 | $152,191 | $191,427 |
| Chief Casualty Actuary 1 | 67 | $167,754 | $207,762 |
All salary grades for trainees titles are Non-Statutory (NS) equated to the salary grade identified. These grade equations apply to the starting salaries in their respective salary schedule for the traineeship levels.
This title may exist in more than one negotiating unit. This salary schedule represents the most typical salary for this title. Click here to view additional salary information regarding the various bargaining units.
An individual's final salary is determined by the Office of the State Comptroller. This salary schedule does not reflect any Special Salary Treatments
Job Duties
As an Assistant Actuary 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 Assistant Actuary 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 Assistant Actuary with the NYS Office of the State Comptroller, you would assist higher-level actuaries by checking calculations for fiscal notes and cost estimates for legislation, optional retirement allowances (including Qualified Domestic Relations Orders), workers' compensation reductions, restorations, and bond refunding; assist in the analysis of experience studies; and check valuations and funding of retirees' benefits prescribed by the New York State Retirement and Social Security Law.
As an Assistant Actuary 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.
View the classification standard for this title which illustrates the nature, extent and scope of duties and responsibilities of the classes they describe.
Summary of Minimum Qualifications
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.
20-104010
Please note: qualifications for this position may be subject to change. Job postings on StateJobsNY will contain the most up-to-date qualifications.
How to Apply
All HELP and NY HELPS open positions are now posted on StateJobsNY.
It is now even easier for Jobseekers to find openings and connect with New York State agencies.
To narrow your search to NY HELPS jobs, click on "For the General Public", then "Search Vacancies", and select "Yes" on the NY HELPS dropdown to narrow your search to NY HELPS jobs.
Directions to apply will be specified on each individual job posting.
Mobility Options
Career mobility is not just limited to the titles in the career ladder. Additional movement may be achieved through transfer or other examinations.
For additional information or clarification of transfer determinations, current State employees should contact the Career Mobility Office at (518) 485-6199 or (800) 553-1322.
You can also visit ELMS Online to view established open-competitive, promotion, and transition eligible lists.