Life & Health Actuarial Examiner II
State of Nebraska

Lincoln, Nebraska

Posted in Public Sector and Government


This job has expired.

Job Info


Description
Are you a credentialed L&H actuary, or someone actively pursuing such designation, looking for work-life balance, an opportunity to be directly involved in regulatory changes, a collaborative and supportive management, and an open-door, business friendly culture? Are you 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.

Who we are: The Nebraska Department of Insurance exists for one very important reason, to protect you the consumer. Our mission is to safeguard all those affected by the business of insurance through the fulfillment of our statutory obligations and by promoting the fair and just treatment of all parties to insurance transactions. To fulfill this role, we have approximately 100 team members. We work with other regulators both nationally and internationally, and with the National Association of Insurance Commissioners to fulfill our roles and responsibilities.

Additional information about the Nebraska Department of Insurance can be found on our website: https://doi.nebraska.gov.

What we do: Insurance is a unique product in that an insurance company collects premiums upfront with the promise to pay in the future; as a result, there is strong need for financial regulations and related ongoing monitoring to ensure insurance companies remain solvent.

Our Financial Examination Division is responsible for monitoring the financial solvency of one of the largest domestic industries in the country. We take a risk focused approach and strive to ensure the regulatory environment is addressing these risks appropriately while still ensuring the markets and product options are available for policyholder needs.

Our Financial Examination Division team are experts in monitoring the financial well-being and compliance for more than one hundred (100) insurance companies, which is a very important service to the citizens of Nebraska, as well as citizens in other states.

Additional details regarding the responsibilities of the Life & Health Actuary are included below.

Why work for the Nebraska Department of Insurance? 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
•Knowledge, 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% (that's not a typo!) 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
• A safe and secure environment

At the State, we stand by our core values of treating others with dignity and respect, acting ethically in all situations, and creating an environment where our customer is our top priority. Apply to join our team today!

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

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


Hiring rate is based upon designations, or progress towards, and experience
Examples of Work
Performs the actuarial aspects in conducting financial examinations of life and health companies, assists the field exam team in the completion of the phases of the examinations, including preparation of any related finding and recommendations. Performs reviews of company's annual actuarial opinions and the associated actuarial memorandums. Determines adequate life and health insurance reserves as specified by law. Effective in making professional conclusions regarding the statutory compliance of a company's reserves and reserving practices. Inspect reserves of all domestic L&H insurance companies to assure soundness and adequacy and compliance with statutory minimums.
Supports actuarial reviews of complex rating models submitted by L&H companies in Nebraska. Performs review of L&H company rate filings.
Participate on committees or task forces of National Association of Insurance Commissioners (NAIC) as requested. Assist with reinsurance reviews of arrangements for reserve offsets and financial trend analysis from statistical data, review reinsurance related to risk transfer and transfer of in-force blocks of business. Provides input in the promulgation of rules and proposed legislation.
Other duties as assigned within the scope of the classification.
Qualifications / Requirements
REQUIREMENTS: Bachelor's Degree from an accredited college or university in an actuarial science, statistics or a related field. Significant progress towards attainment of a designation of ASA from the Society of Actuaries.

Basic Experience Requirement: Previous experience in actuarial work in a Life and Health insurance company, office of a consulting actuary, or state insurance department.

PREFERRED: Education & Designations: A designation of ASA (Associate of the Society of Actuaries) or FSA (Fellow of the Society of Actuaries) is strongly preferred, as is a designation of MAAA (Member of the American Academy of Actuaries). 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.

Knowledge of Nebraska States Statutes and Department of Insurance Rules and Regulations, as well as NAIC guidelines for conducting financial examinations.

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.
Knowledge, Skills and Abilities
Basic Skills & Knowledge:
- General knowledge of Actuarial science, accounting, reinsurance and investments.
- Knowledge of Loss reserving techniques and practices, insurance rating, underwriting and claims.
- Knowledge of Actuarial Standards of Practice related to life and health actuarial work.
- Working knowledge of Microsoft Excel, Word, and Outlook.

Basic Abilities:
- Self-starter with the ability to work independently with support.
- Analytical mindset, organized, and detail-oriented.
- Ability to analyze financial data, company operations and preparation of reports.
- Ability to communicate effectively.


This job has expired.

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