Duties Description The New York Department of Financial Services seeks to build an equitable, more transparent and resilient financial system that benefits New Yorkers and supports business. Through engagement, data-driven regulation, and operational excellence, DFS is responsible for empowering consumers and protecting them from financial harm; ensuring the health and stability of the financial entities we regulate; and driving economic growth through responsible innovation.
DFS is seeking candidates of varying experience and skill levels for various actuarial positions in the Life and Health Bureaus. The Life and Health Bureaus are responsible for the supervision and regulation of the entire life and health insurance industries in New York State and does so by establishing standards for financial solvency, market conduct and corporate oversight and produces regulations, while monitoring the compliance of regulated entities with such standards.
As an Actuary in the NYS Department of Financial Services, you will supervise, review, or assist in the review of actuarial issues related to pricing, solvency, and market conduct of life and health insurers conducting business in New York State. Duties include, but are not limited to, the following:
• Oversees actuarial analysis of reserve valuations of domestic life insurance companies; accepts the valuation methods by domestic companies;
• Analyzes the actuarial implications of existing and proposed plans for agent compensation;
• Evaluates actuarial projections in connection with acquisitions, mergers, and tests of solvency;
• Determines proper reserve estimates for life insurance annuities, disability benefits, and accidental death benefits;
• Determines the effectiveness of regulations and proposes modifications;
• Drafts proposed regulations, legislation, and circular letters;
• Reviews reinsurance treaties for adherence to laws and regulations;
• Evaluates actuarial components of experience rating formulas of health insurance organizations;
• Reviews and critiques actuarial reports of continuing care retirement communities;
• Participates in field examinations of life and health insurance organizations, and fraternal benefit societies;
• Represents the agency on task forces and at NAIC meetings;
• Reviews the most difficult premium rating policy forms to determine that premiums comply with rules, guidelines, and regulations; and
• Supervises a staff of lower-level actuaries.
Minimum Qualifications Appointment method:
Minimum Qualifications: On or before the date of filing your application, you must have all of the following:
• A bachelor's degree or higher; AND
• 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; AND
• Five 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;
• governmental or private pension actuarial functions; OR
• performing actuarial computations for reserves, premium rates, and/or policy forms.
NY HELPS: This title is part of the New York Hiring for Emergency Limited Placement Statewide Program (NY HELPS).
For the duration of the NY HELPS Program, this title maybe filled via a non-competitive appointment, which means no examination is required but all candidates must meet the minimum qualifications of the title for which they apply (see minimum qualifications above). At this time, agencies may recruit and hire employees by making permanent non-competitive appointments.
At a future date (within one year of permanent appointment), it is expected employees hired under NY HELPS will have their non-competitive employment status converted to competitive status, without having to compete in an examination. Employees will then be afforded with all of the same rights and privileges of competitive class employees of New York State. While serving permanently in a NY HELPS title, employees may take part in any promotion examination for which they are qualified.
Transfer: Candidates must have one year of permanent competitive service in a title eligible for transfer via Section 70.1 or 52.6 of the Civil Service Law. Information regarding transfer eligibility may be available on the Civil Service Career Mobility Office website at http://careermobilityoffice.cs.ny.gov/cmo/.
Please Note that under Civil Service Law, an employee cannot have two consecutive upward 70.1 or 52.6 transfers without an intervening eligible list appointment if such transfers would exceed two salary grades.
Additional Comments Please note that a change in negotiating unit may affect your salary, insurance and other benefits.
Salary: $127,507 - $160,911
Positions located within the New York City metropolitan area, as well as Suffolk, Nassau, Rockland, and Westchester Counties, are also eligible to receive an additional $4,000 annual downstate adjustment.
Appointment Status: Permanent & Contingent Permanent
Some positions may require additional credentials or a background check to verify your identity.
Name Tidiane Conde
Telephone
Fax (518) 402-5071
Email Address
[email protected] AddressStreet One Commerce Plaza
Suite 301
City Albany
State NY
Zip Code 12257
Notes on Applying To Apply: Interested qualified candidates must submit a resume, letter of interest and an unofficial copy of their transcripts including undergraduate, SOA, and/or CAS no later than December 31, 2025 to the email address listed below. Please include the Box # (Box SUPACTLFE25) in the subject line of your email to ensure receipt of your application. Email submissions are preferred.
Please be advised that the New York State Department of Financial Services does not offer sponsorship for employment visas.
Tidiane Conde
Box SUPACTLFE25
New York State Department of Financial Services
Office of Human Resources Management
One Commerce Plaza, Suite 301
Albany, NY 12257
Email:
[email protected]Fax: (518) 402-5071
All candidates that apply may not be scheduled for an interview
Public Service Loan Forgiveness
Employment with New York State qualifies an individual for Public Service Loan Forgiveness (PSLF). This program forgives the remaining balance on any Direct Student Loans after you have made 120 qualifying monthly payments while working full-time for a U.S. federal, state, local, or tribal government or not-for-profit organization. To learn more about the program and whether you would qualify, please visit: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service
AMERICANS WITH DISABILITIES ACT: REASONABLE ACCOMMODATIONS
Under the Americans with Disabilities Act (ADA), the Department of Financial Services is required to provide reasonable accommodation for known physical or mental limitations of an otherwise qualified applicant with a disability if an accommodation would enable the applicant to perform the essential functions of the job. If the accommodation would constitute an undue hardship on the operations of the agency, the agency is not required to provide it.
All people with disabilities are encouraged to apply to all jobs for which they meet the minimum qualifications.
