TIAA 2023 Summer Associate Internship: Actuarial Services in New York, New York
The Intern gains experience and an overall feel for the company and the financial services industry by attending meetings, delivering presentations, exploring business-specific tasks, and working closely with cross-functional groups to better understand the organization. Over the 10-week summer internship program, this job participates in a robust training and onboarding program followed by an ongoing speaker series, lunch-and-learns, and cohort engagement activities. This job may have the opportunity to work in the follow business areas: Technology, Asset Management, Financial Analysis/Accounting, Audit, Risk and Compliance, Human Resources and Advice and Client Relationships.
Key Responsibilities and Duties
Performs clerical duties such as taking memos, organizing documents, maintaining files, photocopying, faxing, etc. as needed
Assists in preparing information and research materials, including Powerpoint presentations.
Takes notes during meetings and provides to team members.
Researches and gathers documentation as directed by colleagues.
Attends company functions, including trainings programs, speaker series, lunch-and-learns and social networking events that provide opportunities for career growth and personal development.
Shadows multiple office jobs and trains in a variety of tasks.
Gains experience and an overall feel for the company and the financial services industry
- High School Preferred
- No Experience Required
- Physical Requirements: Sedentary Work
Actuarial Development Program Interns provide actuarial and related assistance with respect to risk analysis and management, experience studies, actuarial modeling, asset liability management (ALM), valuation, retirement plan support, pricing, and product development. This internship is for 10 weeks during the summer.
KEY RESPONSIBILITIES AND DUTIES:
Depending on the particular assignment, the Actuarial Development Program Intern may:
Support risk analyses performed with respect to the company's actuarial liabilities and capital position to ensure adequate reserving and financial strength of annuity and life insurance product lines, as well as overall financial strength of the company
Perform experience studies and help establish assumptions for the annuity and life insurance lines of business
Perform asset and liability modeling and analyses of annuity and life insurance lines of business
Assist with various ALM projects such as economic scenario generation, duration analysis, and interest rate stress testing
Perform valuations of actuarial reserves and liabilities
Perform asset adequacy testing and analyses of annuity and life insurance lines of business
Provide actuarial assistance in support of new and existing pension business, including the testing of retirement plans for compliance with non-discrimination rules and actuarial valuation of defined benefit plans
Support development of pricing structure and design of annuity products, including determination of rates, dividend scales and policyholder illustrations
Qualifications - External Required Skills:
Currently pursuing a bachelor's or master's degree in mathematics, actuarial science or related field
Graduating between December 2023 and August 2025
GPA of 3.0 or higher
At least one Society of Actuaries (SOA) exam passed
Strong communication and problem-solving skills
Base Pay Range: $25.00/hr. - $28.00/hr.
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.Â 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).Â
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.
TIAA requires all U.S. employees to be fully vaccinated against COVID-19 and provide documentation of full vaccination, unless you qualify for an accommodation as determined by TIAA consistent with applicable law.
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. Thatâs 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.Â
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:Â
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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