New York State Department of Civil Service announces Continuous Recruitment Examination Open to All Qualified Individuals
Supervising Actuary Life
- Applications Accepted
- Tests To Be Held
|Exam Title and Agency
|Supervising Actuary Life - NYS Department of Financial Services
|Supervising Actuary Life - NYS Office of the State Comptroller
|Supervising Actuary Life - NYS State Insurance Fund
NO APPLICATION PROCESSING FEE REQUIRED
Appointees who work in the five boroughs of New York City or in Nassau, Suffolk, Rockland, or Westchester Counties will receive an additional $3,026 annual downstate adjustment.
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.
- Transcripts from the Society of Actuaries MUST be converted to the most current system. For information contact: Society of Actuaries, Brett Rogers, (847) 706-3586, email@example.com, 475 North Martingale Road, Suite 600, Schaumberg, IL 60173, www.soa.org. Preliminary test results will not be accepted.
- Your degree must have been awarded by a regionally accredited college or university or one recognized by the NYS Education Department as following acceptable educational practices. If your degree was awarded by an educational institution outside the United States and its territories, you must provide independent verification of equivalency. You can write to the Examination Information Desk of the NYS Department of Civil Service for a list of acceptable companies who provide this service. You must pay the required evaluation fee.
- New York State residence is not required.
- Appropriate part-time and volunteer experience, which can be verified, will be accepted on a prorated basis.
- Experience limited to teaching actuarial courses is NOT qualifying experience.
These positions exist in the NYS Department of Financial Services in Albany and New York City and in the NYS Office of the State Comptroller in Albany only.
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.
As a Supervising Actuary (Life) in the NYS Insurance Fund, you would make determinations on actuarial methods including the acceptance of valuation methods. You would perform actuarial calculations involving disability insurance and life contingencies in compliance with applicable statutes. You would develop actuarial projections and determine reserve estimates for life annuities and disability benefits. You may draft changes in laws or regulations and represent the agency on task forces and committees. You may develop financial reports and models to support decision making. You would supervise lower-level actuaries.
Subject of Examination
If you meet the minimum qualifications, your training, education, and experience will be evaluated against the general background/critical activities of the position. Your completed application/supplemental questionnaire will be the only basis for rating your training, education, and experience. Your score will be based on the following: education, advanced degree, actuarial experience, completion of examinations through the Society of Actuaries, and reading and following instructions. It is essential that you describe your training, education, and experience as completely as possible. Ambiguity, vagueness, or omissions will not be decided in your favor. If you need more space, attach additional 8??" x 11" sheets, following the same format used on the application/supplemental questionnaire. Resumes will NOT be accepted in lieu of a completed application/supplemental questionnaire.
Your final score must be 70 or higher in order to pass. Your final score on the eligible list will be determined after adding any wartime Veterans' and Civil Service Law Section 85-a credits.
Important: The Department of Civil Service and other state agencies may communicate with you through email correspondence. This may include the notification of your examination results and canvassing you for interest in appointment. It will be important for you to keep your email address, phone number and mailing address current by logging into https://www.cs.ny.gov/home/myaccount.
How to Apply
The examination requires completion of an application/supplemental questionnaire (Forms NYS APP-3 #20-115 with SUPP#20-115). There will be no written test. The application/supplemental questionnaire is the test. Your completed application/supplemental questionnaire will be the only basis for rating your training, education, and experience.
For Exam No. 20-125:
NYS Department of Financial Services
One Commerce Plaza
Human Resources Management, Room 2016
Albany, NY 12257
For Exam No. 20-126:
NYS Office of the State Comptroller
Office of Human Resources
110 State Street
Albany, NY 12236
For Exam No. 20-190:
NYS Insurance Fund
PO Box 66699
Albany, NY 12206
State agencies have an ongoing need for persons qualified for appointment to these positions. Therefore, the agencies above will accept applications at any time and will rate applications whenever additional eligibles are needed. The agencies above will update the eligible list and notify successful candidates of their final scores and eligibility dates on a periodic basis.
Qualified candidates may file as frequently as every 12 months, but a new application/supplemental questionnaire is required each time.
Important: The Department of Civil Service and other state agencies may communicate with you through email correspondence. This may include the notification of your examination results and canvassing you for interest in appointment. It will be important for you to keep your email address, phone number and mailing address current by logging into https://cs.ny.gov/home/myaccount.
New York State is an Equal Opportunity Employer
It is the policy of the State of New York to provide for and promote equal opportunity employment, compensation, and other terms and conditions of employment without unlawful discrimination on the basis of age, race, color, religion, disability, national origin, gender, sexual orientation, veteran or military service member status, marital status, domestic violence victim status, genetic predisposition or carrier status, arrest and/or criminal conviction record, or any other category protected by law, unless based upon a bona fide occupational qualification or other exception.
Appointment to many positions in State government require candidates to undergo an investigative screening. This may include a thorough character investigation, a Federal Bureau of Investigation Criminal Record History Check, a Child Abuse Registry clearance, or other similar procedures. Candidates may be fingerprinted and may be required to pay any necessary fees for that procedure. Depending on the nature of the job, the criminal convictions discovered, or any falsified or omitted information revealed, the investigative findings may bar appointment or result in removal after appointment.
Eligibility for Employment
You must be legally eligible to work in the United States at the time of appointment and throughout your employment with New York State. If appointed, you must produce documents that establish your identity and eligibility to work in the United States, as required by the federal Immigration Reform and Control Act of 1986, and the Immigration and Nationality Act.
Reasonable Accommodations in Testing
It is the policy of the Department of Civil Service, in accordance with the New York State Human Rights Law and the Americans with Disabilities Act, to provide qualified persons with disabilities equal employment opportunity and equal opportunity to participate in and receive the benefits, services, programs, and activities of the Department. It is the policy of the Department to provide such persons reasonable accommodations and reasonable modifications as are necessary to provide equal opportunity. Persons with disabilities who require an accommodation to participate in an examination must note this on their application. Further information is available from the Test Accommodation Unit of the Department of Civil Service at Testaccommodation@cs.ny.gov.
New York State Residence Is Not Required For Most Positions
However, you must be eligible for employment in the United States.
Continuous Recruitment/Eligible Lists
Candidates who meet the qualifications and pass this examination will have their names placed on the eligible list in the order of final scores, regardless of the date on which they filed or took the test. Generally, the names of qualified candidates will remain on the eligible list for one year. Appeal of ratings will not be allowed as the opportunity for retest exists. The Department of Civil Service reserves the right to terminate this special recruitment program.
This announcement is subject to amendment or cancellation without notice. Do not copy it, or post it to any other site, but link to it instead.