Life and Health Actuary II​/III

Job Posting:

The work we do matters!

Hiring Agency: Insurance - Agency 22

Location: Lincoln, NE

Hiring Rate: $44.240

Job Posting: JR Life and Health Actuary II/III (Open)

Applications No Longer Accepted On (If no date is displayed, job is posted as open until closed):

Ready to join a successful team responsible for regulating one of the largest domestic insurance industries in the United States, including several large life and health insurers? If so, the Nebraska Department of Insurance has an exciting opportunity for you to join our Actuarial team. Whether you're a credentialed L&H actuary, or actively pursuing such designation, we have a position that will offer you the ideal work-life balance and the chance to be directly involved in regulatory changes.

You'll enjoy a collaborative and supportive management team and an open-door, business-friendly culture.

The Nebraska Department Of Insurance Is Nationally One Of The Most Well-respected Insurance Departments. We Take Great Pride In What We Do And Strive To Provide An Excellent Work Environment For Our Team. A Life & Health Actuary Would Enjoy The Following Benefits While Working For The Department:

• Engaging and challenging work
• Supportive management and open-door policy
• Knowledgeable, Friendly and Fun Team
• Work-life balance with focus on providing flexibility
• Excellent health and wellness benefits
• Formal ongoing training and development program to set-up any new team member for success

This is an At-Will position and is under the discretion of the Director of Insurance.

This position performs the actuarial analysis and examination work to ensure regulatory compliance with Nebraska State Statutes related to life and health companies as well as provides the necessary reviews of other actuarial items deemed necessary by the Nebraska Department of Insurance.

• Performs analysis of Life reinsurance contracts, reviews reinsurance related to risk transfer and transfer of in-force blocks of business.
• Performs Reserve Risk analysis for financial examinations of life insurance companies.
• Reviews the Appointed Actuary Annual Statement of Actuarial Opinion on reserves, and the associated actuarial memorandums.
• Performs analysis of Principal Based Reserves submitted by Life insurers.
• Determines adequate life insurance reserves as specified by law.
• Develop conclusions regarding the statutory compliance of a company's reserves and reserving practices.
• Inspect reserves of all domestic companies to assure soundness and compliance with statutory minimums.
• Reviews Life company form filings, Life illustrations, Index Linked Variable Annuity Non-Forfeiture standards in filings.
• Participate on committees, task forces and work groups at the National Association of Insurance Commissioners (NAIC) as requested.
• Provides input in the promulgation of Nebraska rules and proposed legislation.

Other duties as assigned within the scope of the classification.

Minimum Qualifications:

• Life and Health Actuary II
• Within one or two exams of attaining an ASA (Associate of the Society of Actuaries) designation from the Society of Actuaries. AND Previous experience of at least three years of actuarial work in a Life and Health insurance company, office of a consulting actuary, or state insurance department
• Life and Health Actuary III
• A designation of ASA from the SOA, plus a designation of MAAA (Member of the American Academy of Actuaries). AND Minimum of five years of experience working in the insurance industry or related field, with diverse work experience involving both establishment and evaluation of reserves

Other:
This position requires travel. As such, the incumbent must be able to present a valid driver’s license or another form of reliable transportation.

Regular and reliable attendance is required.

Copies of your Cover Letter, Resume, Designations and References must be provided at the time of the interview.

• Life and Health Actuary II –$44.24 to $54.07 hourly
• Life and Health Actuary III –$56.53 to $98.32 hourly

Please note that pay rate may be commensurate with education and/or experience within fiscal constraints, if approved.