Supvg Actuary Life

Grade 64

New York State has approximately 27 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.

Career Ladder

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.

  1. Senr Actuary Life

    Grade 19

  2. Assoc Actuary Life

    Grade 24

  3. Prin Actuary Life

    Grade 28

  4. Supvg Actuary Life

    Grade 64

  5. Chief Life Actuary 3

    Grade 65

  6. Chief Life Actuary 2

    Grade 66

  7. Chief Life Actuary 1

    Grade 67

Summary of Job Description

As a Supervising Actuary (Life) in the NYS Department of Financial Services, you may review actuarial opinions and supporting memoranda on the adequacy of reserves of life insurers. You may review policy forms and rate filings for innovative and complex life insurance and annuity products and draft new regulations involving actuarial matters. You may review a company's market conduct in the use and marketing of policy forms. You may draft changes in laws or regulations or represent the Department in public forums. You may review complex submissions regarding agent compensation, separate accounts, investment income allocations, and actuarial projections for company plans of operation. You may oversee the review of complex rate adjustment applications for health products from Health Maintenance Organizations, Life and Accident and Health Insurance Companies, Non-Profit Medical and Dental Indemnity Corporations, Non-Profit Health and Hospital Service Corporations and government sponsored programs for compliance with statutes and regulations, investigate public complaints on actuarial related matters, participate in public rate hearings; and develop Department policy on rate matters. You may supervise lower-level actuaries.

As a Supervising Actuary (Life) in the NYS Office of the State Comptroller, you would assist in setting actuarial assumptions and determining employer contribution rates. You would plan and develop funding procedures to match expanding benefit structures, analyze gains/losses of the systems' operations, and formulate new applications of actuarial concepts.

View the classification standard for this title, on the Classification and Compensation webpage.

The NYS Title and Salary Plan provides additional information regarding other titles. 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.

Summary of Minimum Qualifications

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.

You must take and pass a Civil Service examination in order to be considered for this position.

Candidates must have all of the following:
�� A bachelor's degree or higher;
�� Successful completion of the Society of Actuaries examinations MLC, MFE, and four additional examinations OR be an Enrolled Actuary with successful completion of the Society of Actuaries examinations MLC, MFE, and three additional examinations;
�� Five years of actuarial experience in one or more of the following activities:
1. actuarial or statistical work for operating units or management;
2 governmental regulatory actuarial functions;
3. governmental or private pension actuarial functions; OR
4. performing actuarial computations for reserves, premium rates, and/or policy forms.

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.


How to Apply

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

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.

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