Health Actuary

State of Iowa; Des Moines (CA); On-site; USD 95,000 - 140,000; Full time

Benefits offered by this job

IPERS

Retirement Investors Club (RIC)

Health, Dental, Vision Insurance

Paid Vacation and Sick Leave

9 Paid Holidays per Year

Flexible Work Schedules

Telework Opportunities

Job summary

Iowa Insurance Division seeks a Health Actuary to serve as Insurance Regulation Specialist 2 in the Company Regulation Bureau. The role applies advanced actuarial expertise to regulate insurer rates, reports, and capital adequacy, safeguarding policyholders and maintaining a stable market.

Successful candidates will have ACAS/FCAS MA, strong modeling skills, and the ability to communicate complex findings. Travel nationally and internationally is required.

Qualifications

• Graduation from an accredited college with a degree in actuarial science or related field and three years of full-time work in actuarial or insurance policy-making roles.
• Alternative pathway requiring a combination of education and work experience as described in the qualification guidelines.

Responsibilities

• Review insurer filings for completeness, accuracy, and methodological soundness.
• Evaluate actuarial models, assumptions, and capital adequacy frameworks used by regulated insurers.
• Determine and recommend whether actuarial methodologies are appropriate for regulatory purposes.
• Evaluate trend and projection assumptions and projected loss ratios.
• Coordinate and supervise external consulting actuaries and examiners.
• Direct and review complex actuarial analyses and prepare written findings.
• Maintain annual ACA filing matrices and prepare rate filing observations for hearings.
• Provide actuarial insight and testimony when needed.
• Collaborate with regulated entities and regulatory partners to promote compliance and stability.
• Support leadership in national and international regulatory coordination.

Skills

Actuarial modeling

Pricing

Reserving

Capital analysis

Analytical thinking

Communication skills

Attention to detail

Regulatory reporting

Education

Actuarial science degree

Related field degree

Tools

Microsoft Office

Actuarial analysis tools

Job description

Summary

The Iowa Insurance Division is seeking a motivated and experienced Health Actuary to serve as an Insurance Regulation Specialist 2 within the Company Regulation Bureau.

This role offers a unique opportunity to apply advanced actuarial expertise in service of the public good. By evaluating insurer rating methodologies, you will help ensure Iowa’s insurance marketplace remains stable, transparent, and financially sound- protecting consumers, supporting economic confidence, and maintaining trust in the insurance system.

As an actuarial expert for Iowa-domiciled insurers and insurance groups where Iowa serves as the lead U.S. or worldwide regulator, you will play a critical role in safeguarding policyholders while supporting responsible innovation across the insurance industry.

What You’ll Do

• Review insurer filings including rates, annual actuarial reports, and related regulatory requests for completeness, accuracy, and methodological soundness.
• Evaluate actuarial models, assumptions, and capital adequacy frameworks used by regulated insurers.
• Determine and recommend whether actuarial methodologies are appropriate for regulatory purposes.
• Evaluate trend and projection assumptions, calculate projected loss ratios and evaluate insurer experience.
• Coordinate, oversee, and evaluate work performed by external consulting actuaries and financial examiners.
• Direct and review complex actuarial analyses and prepare written findings and recommendations.
• Maintain annual ACA filing matrices.
• Prepare Rate Filing Observations for public hearings.
• Provide expert actuarial insight, including preparation of technical reports and expert testimony when needed.
• Collaborate with regulated entities, industry stakeholders, and regulatory partners to promote compliance and financial stability.
• Support Iowa’s leadership role in national and international insurance regulatory coordination.

Credentialed candidates are strongly preferred (ACAS, FCAS, MAAA)

Successful candidates will demonstrate:

• Strong foundation in actuarial modeling, pricing, reserving, and capital analysis.
• Analytical and critical thinking skills to interpret complex financial data.
• Exceptional attention to detail and documentation practices.
• Ability to manage multiple priorities while meeting regulatory timelines.
• Professional judgment in evaluating risk and making evidence-based decisions.
• Strong relationship-building skills with regulated entities, trade associations, and policymakers.
• Proficiency with Microsoft Office and actuarial analysis tools.
• Ability to communicate complex technical information clearly and effectively.
• National and international travel is required.

Why Join the Iowa Insurance Division?

At the Iowa Insurance Division, your work directly contributes to protecting consumers and maintaining a fair, competitive insurance marketplace. You’ll join a collaborative team committed to professional excellence, public service, and thoughtful regulation that benefits all Iowans.

We value expertise, integrity, and work-life balance while providing opportunities to engage in meaningful regulatory work with national and global impact.

Benefits of Working for the State of Iowa

• Iowa Public Employees’ Retirement System (IPERS)
• Retirement Investors Club (RIC)
• Health, Dental, and Vision Insurance
• Paid Vacation and Sick Leave
• 9 Paid Holidays per Year
• Flexible Work Schedules
• Telework Opportunities (Monday & Friday)
• Employee Assistance Program
• Professional development and learning opportunities

E-Verify and Right to Work

The State of Iowa participates in E-Verify, a federal program that helps employers confirm the employment eligibility of all newly hired employees. Within the required timeframe, new hires will be verified through the E-Verify system to ensure authorization to work in the United States. The State of Iowa also complies with the federal Right to Work laws, which protect employees’ rights to work without being required to join a labor organization. For more information, please visit www.e-verify.gov.

Qualifications

Applicants must meet at least one of the following minimum requirements to qualify for positions in this job classification:
1) Graduation from an accredited four-year college or university with a degree in actuarial science, insurance, accounting, finance, risk management, business analytics, economics, data science, statistics, mathematics, management information systems, or computer science, and experience equal to three years of full-time work in any of the listed degree fields or in a policy-making role within an entity involved in the business of insurance.
2) All of the following (a, b, and c):
a. One year of full-time work experience in actuarial science, insurance, accounting, finance, risk management, business analytics, economics, data science, statistics, mathematics, management information systems, or computer science, or in a policy making role within an entity involved in the business of insurance; and
b. A total of four years of education and/or full-time experience (as described in part a), where thirty semester hours of accredited college or university coursework in actuarial science, insurance, accounting, finance, risk management, business analytics, economics, data science, statistics, mathematics, management information systems, or computer science equals one year of full-time experience; and
c. A total of two years of graduate-level education and/or full-time experience (as described in part a), where twenty-four semester hours of accredited graduate college or university coursework in actuarial science, insurance, accounting, finance, risk management, business analytics, economics, data science, statistics, mathematics, management information systems, or computer science equals one year of full-time experience.
For more information visit Job Class Description - 00462

Supplemental information

• Travel, including overnight and out-of-state travel, may be required for positions in this class.
• Employees must arrange transportation to and from assigned work areas.