Winter 2023 Actuarial Internship Program
Posted on: 23 Jan 2023
New York, New York
Job Description
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 White Plains, 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.
New York Life Insurance
New York, New York
New York Life Insurance Company, a mutual life insurance company, together with its subsidiaries, provides a range of insurance and investment products and services. The company offers life insurance, long-term care, insurance pension, and disability insurance products, as well as mutual funds. It also provides securities brokerage, financial planning, investment management and advisory, trust, and capital financing services, as well as fixed deferred and variable annuities.
In addition, the company invests in limited partnerships and limited liability companies, consolidated investment companies, equity investments, derivatives, securities purchased under agreement to resell, short-term investments, real estate, mortgage and other loans, and loans of various consolidated variable interest entities. New York Life Insurance Company offers its insurance and annuity products in the United States and its territories, Mexico, and Canada through its career agency force, as well as through third party banks, brokers, and independent financial advisors; and investment management and advisory services in the United States, Europe, Asia, and Australia. The company was founded in 1845 and is based in New York, New York.
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IndustryInsurance
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No. of Employees11,320
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Website
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Jobs Posted597
