TIAA Actuary in New York, New York
The Actuary contributes to actuarial activities relating to management and distribution of surplus, statutory and tax reserving, asset adequacy analysis, asset-liability management, assumption setting, experience studies, pension plan design, benefit illustrations, and actuarial standards and policies. Under minimal supervision, this job requires compliance with actuary practices and continual monitoring of changing regulations to ensure consistent compliance and delivery of optimal solutions for both internal and external clients.
Key Responsibilities and Duties
Conducts analysis, pricing and risk assessment to estimate financial outcomes of diverse scenarios and minimize risk.
Analyzes and interprets results of catastrophic modeling software and makes recommendations to business leaders.
Lends advice and consulting services to internal and external clients on policies, eligibility, rates and benefits.
Develops probability tables based on analysis of statistical data and other pertinent information, while maintaining up-to-date knowledge on government and industry regulations affecting the business at large.
Provides reports on regulatory changes and their impact on relevant programs.
Ensures long-term profits and competitive rates through administering proper plans.
- University (Degree) Preferred
4+ years Required
7+ years Preferred
- Physical Requirements: Sedentary Work
4+ years of Actuarial Experience
Associate of Society of Actuaries or equivalent
Fellow Society Actuaries or equivalent
Strong experience working with or modifying models
Strong experience coding models or other coding experience (e.g., Java, C++, etc.,)
ADDITIONAL JOB RESPONSIBILITIES:
The associate will work as part of a model development team that maintains and improves a centralized asset and liability model that is used for cash flow testing, stress testing, corporate planning, ALM and other corporate purposes.
The role offers lots of opportunity for growth through learning about new products, asset classes, statutory reporting, taxes etc., and exposure to leading edge actuarial technologies in the MG-ALFA/Integrate Ecosystem.
The primary focus of modeling efforts will be modelling changes related to a large block of annuities, mutual funds and other investments held in defined contribution plans, as well as related general account assets.
In addition, there are opportunities to work on models for life insurance, funding agreement, and new products as they are developed.
The modeler will be expected to work with experts from other areas to develop a strong understanding of the product, asset, or other business need and design creative solutions in our model.
This associate will also be the primary person responsible for model design related to reporting and process automation infrastructure implemented.
These processes utilize Microsoft data flows and PowerBI to automate reporting and model controls and other processes. They will need to acquire a deep understanding of these processes and be able to work towards optimal solutions with the developer that maintains this infrastructure and the model production team that uses it.
Base Pay Range: $95,600/yr. - $159,400/yr.
Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location. In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans).
TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. We offer a wide range of financial solutions, including investing, banking, advice and education, and retirement services.
Benefits and Total Rewards
The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That’s why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being. To learn more about your benefits, please review our Benefits Summary (https://www.tiaa.org/public/pdf/benefits-at-a-glance.pdf) .
We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.
Read more about the Equal Opportunity Law here (https://www.dol.gov/general/topics/posters) .
TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.
If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team:
Phone: (800) 842-2755
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TIAA started out over 100 years ago to help ensure teachers could retire with dignity. Today, many people who work at not-for-profits rely on our wide range of financial products and services to support and strengthen their financial well-being.
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