Description

Are you looking 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. 

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

Job duties may include:

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

Requirements

Minimum Qualifications: 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 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 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