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Actuarial Internship
New York Life Insurance
New York, NY, United States
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New York Life Insurance Company is the largest mutual life insurance company in the United States. Founded in 1845 and headquartered in New York City, New York Life reported 2017 operating earnings of $2.06 billion. Total assets under management at year end 2017, with affiliates, totaled $586 billion.
New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody’s Aaa; Standard & Poor’s AA+ (Source: Individual independent rating agency commentary as of 8/1/17).
Financial strength, integrity and humanity—the values upon which New York Life was founded—have guided the company’s decisions and actions for over 170 years.
Work Term: Fall 2018 (September - December)
Job Title: Actuarial Intern
Job Summary
The Actuarial Internship Program at New York Life is one of the best in the industry. The program offers competitive compensation and many exciting career development opportunities. There are currently close to 200 Fellows and Associates of the Society of Actuaries and roughly 90 students with positions in over 10 different areas of the company.
New York Life is headquartered at 51 Madison Avenue, in Manhattan, across from Madison Square Park. Located between the popular Murray Hill and Gramercy Park neighborhoods, it's within walking distance of Grand Central and Penn Stations as well as the Empire State Building, Times Square, and Greenwich Village. Other nearby offices offering actuarial opportunities are in Jersey City, NJ and Westchester County, NY.
Job Responsibilities
Internship/Co-Op students are placed throughout the company, working side-by-side with actuaries or senior level actuarial students. Responsibilities are dependent on placement, and may include assisting with:
• Developing premiums and benefits for insurance and annuity products
• Designing new products and product features
• Projecting profitability generated by the company's products
• Analyzing the ALM profile and developing optimal investment strategy
• Quantifying the company's risk exposure and proposing ways to minimize risk
• Performing actuarial research and statistical analyses
Interns are treated as full time actuarial students with the ability to participate fully in all training activities including the actuarial mentorship program, monthly student meetings, and an All-Campus Enrichment Day (ACE) to foster a broader knowledge of the company.
Required Skills
• Recent graduate or 3rd–4th year college student working towards a Bachelor’s degree with an accredited college or university (preferred majors in Actuarial Science, Mathematics, Statistics, Economics, or Finance)
• Prefer cumulative GPA of 3.0 or higher
• Passage of one or more Society of Actuaries exams (working toward ASA/FSA designation)
• Knowledge of modeling packages, programming languages, and spreadsheet/database software
• Strong written and oral communication skills
• Analytically minded with excellent interpersonal skills
Transportation & Housing
Co-Op/Internship students are responsible for their own housing.
Compensation & Benefits Information
Compensation is competitive and based on the number of passed actuarial exams.
EOE M/F/D/V
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