Life and Health Actuary II/III

United States·Lincolnmid

OtherActuary

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Requirements Summary

Bachelor’s Degree from an accredited college or university in an actuarial science, statistics or a related field.

Technical Tools

OtherActuary

Insurance - Agency 22

Lincoln, NE

$44.240

JR2026-00028158 Life and Health Actuary II/III (Open)

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 workgroups 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.

Requirements

~1 min read

Bachelor’s Degree from an accredited college or university in an actuarial science, statistics or a related field.

- 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

What We Offer

~1 min read

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

The State of Nebraska values our teammates as well as a supportive environment that strives to promote diversity, inclusion, and belonging. We recruit, hire, train, and promote in all job classifications and at all levels without regard to race, color, religion, sex. age, national origin, disability, marital status or genetics.

- Self-starter with the ability to work with other actuaries at insurance companies and state insurance departments, and to work with other internal managers at the Department.
- Analytical Skills: Strong analytical and problem-solving abilities.
- Technical Skills: Proficiency in Excel, SQL, R, or other data analysis tools.
- Communication Skills: Ability to explain complex concepts to non-technical stakeholders.
- Attention to Detail: Precision and accuracy in work.
- Time Management: Ability to manage multiple tasks and meet deadlines.
- Professional Development: Commitment to continuing education and professional growth.