Life and Health Actuary II/III
State of Nebraska•Lincoln, NE
•$44 - $98•Onsite
About The Position
The Nebraska Department of Insurance is seeking a Life and Health Actuary II/III to join their Actuarial team. This role involves performing actuarial analysis and examination work to ensure regulatory compliance with Nebraska State Statutes related to life and health companies. The position offers work-life balance, a collaborative environment, and the opportunity to be involved in regulatory changes within one of the largest domestic insurance industries in the United States.
Requirements
- 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.
- Life and Health Actuary II: 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).
- Life and Health Actuary III: 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.
- 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.
Nice To Haves
- Actively pursuing L&H actuary designation
Responsibilities
- 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.
Benefits
- 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
- 13 paid holidays
- Vacation and sick leave that begin accruing immediately
- Military leave
- 156% state-matched retirement
- Tuition reimbursement
- Employee assistance program
- 79% employer paid health insurance plans
- Dental and vision insurance plans
- Employer-paid $20,000 life insurance policy
- Public Service Loan Forgiveness Program (PSLF) through the Federal government
- Wide variety and availability of career advancement as the largest and most diverse employer in the State
- Opportunity to be part of meaningful work and make a difference through public service
- Training and Development based on your career aspirations
- Fun, inviting teammates
- A safe and secure environment
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
