Life and Health Actuary II/III

About this role

The work we do matters! Hiring Agency: Insurance - Agency 22 Location: Lincoln, NE Hiring Rate: $44.240 Job Posting: JR2026-00028158 Life and Health Actuary II/III (Open) Applications No Longer Accepted On (If no date is displayed, job is posted as open until closed):

Job Description: 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.   Job duties • 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/Qualifications

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 (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.

Compensation: • 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.

Knowledge, Skills and Abilities - 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.

  BENEFITS Below are a list of benefits we offer! • 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 • 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

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 ou

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