New York State of Opportunity

New York State Department of Civil Service announces Continuous Recruitment Examination Open to All Qualified Individuals

Actuary Trainee

Applications Accepted
Continuously
Tests To Be Held
Periodically

 

Exams Included on This Announcement
Exam Number Exam Title and Agency Salary Grade Beginning Salary Job Rate
20-101 Actuary Trainee - Department of Financial Services Equated to G-13 $40,507 $51,830
20-102 Actuary Trainee - State Insurance Fund Equated to G-13 $40,507 $51,830
20-103 Actuary Trainee - Teachers' Retirement System Equated to G-13 $41,042 $53,549

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.

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Minimum Qualifications

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.

Notes

  1. Transcripts from the Societies' MUST be converted to the most current system. For information regarding the Societies' examinations, contact: Society of Actuaries, Brett Rogers, (847) 706-3586, brogers@soa.org, 475 North Martingale Road, Suite 600, Schaumberg, IL 60173, www.soa.org OR Casualty Actuarial Society, Tom Downey, (703) 276-3100, mrc@casact.org, 4350 N. Fairfax Drive, Suite 250, Arlington, VA 22203, www.casact.org. Preliminary test results will not be accepted.
  2. Your degree or college credit 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 or college credit 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.
  3. New York State residence is not required.
  4. Appropriate part-time and volunteer experience, which can be verified, will be accepted on a prorated basis.

The Positions

These positions exist in the NYS Department of Financial Services in Albany and New York City, and in the NYS Insurance Fund and the NYS Teachers' Retirement System in Albany only.

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Duties

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.

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Subject of Examination

The examination requires completion of an application/supplemental questionnaire (Forms NYS APP-3 #20-101 with SUPP#20-101). 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.

Failure to complete the application/supplemental questionnaire correctly may result in disqualification. If disqualified, candidates must wait six months to re-apply.

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: grade point average, education, advanced degree, or other relevant coursework, actuarial experience, and completion of examinations through the Society of Actuaries or Casualty Actuarial Society, 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. Rank on the eligible list will be determined after adding any wartime veterans��� and Civil Service Law Section 85-a credits to your final passing score.

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.

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How to Apply

You must use form NYS-APP-3 #20-101 application form/supplemental questionnaire.

Where to Apply

These examinations are decentralized to the following agencies. You must mail a separate completed application/supplemental questionnaire to one or more of the following:

For Exam No. 20-101:
NYS Department of Financial Services
One Commerce Plaza
Human Resources Management, Room 2016
Albany, NY 12257
(518) 474-2994
Email: Human-resources@dfs.ny.gov

For Exam No. 20-102:
NYS Insurance Fund
Personnel Office
15 Computer Drive West
Albany, NY 12205
(518) 437-6176
Email: HR@nysif.com

For Exam No. 20-103:
NYS Teachers' Retirement System
Human Resources ��� Exam
10 Corporate Woods Drive
Albany, NY 12211-2395
(518) 447-2906

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.

Retest Policy

Qualified candidates may file as frequently as every 12 months, but a new application/supplemental questionnaire is required each time.

Additional Information

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 Administration Unit of the Department of Civil Service. In the Albany area, call 518-457-2487. Outside of the Albany area, call toll free at 1-877-697-5627. For TDD services, call NY Relay at 711 (requires a fee) or 1-800-662-1220.

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 qualification 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.

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Reissued: 10/16

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.