Actuary. LIfe Product Development

Date: Jun 28, 2019

Location: Greensboro, NC, US

Company: Lincoln Financial

Alternate Locations: Greensboro, NC (North Carolina); Hartford, CT (Connecticut)

Relocation assistance will be considered/provided for this opportunity within our company guidelines.

Requisition #59976


About the Company


Lincoln Financial Group, a Fortune 250 company with over 10,000 employees, provides advice and solutions that help empower Americans to take charge of their financial lives with confidence. Our core business areas — Life Insurance, Annuities, Retirement Plan Services and Group Protection — focus on supporting, preserving and enhancing over 17 million customer’s lifestyles and retirement outcomes.

Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. The company had $238 billion in assets under management as of December 31, 2018.

Ranked one of the Best Large Employers in America by Forbes magazine, Lincoln Financial Group makes a serious investment in our employees’ futures through a broad range of wealth accumulation and protection plans, health and wellness programs, and career development resources designed to help each individual reach their personal and professional goals.


The Role


As an Actuary in Core Life Product Development, you will play an integral role in the development, pricing, and implementation of new individual life products.  In this role, you will be responsible for the design, modeling, and rate development for new products and work with IT and Quality Assurance to ensure that the products function correctly on the LFG administrative systems.  You will also be managing a small team of Actuarial Development Program participants.




Pricing Process


  • Provides product research and design for Core Life products (Term, UL, IUL, VUL)
  • Designs and develops products to provide the targeted distribution and marketplace product offerings with distinct competitive advantages
  • Develops products to meet LFG’s profit objectives in collaboration with other key stakeholders.
  • Builds models to price new products and manipulates models to test various scenarios, sensitivities, and sales opportunities
  • Develops a thorough understanding of model assumptions, product mechanics, and reserving/financial regulations in order to validate each component of model output
  • Develops tools in order to facilitate rate development and analysis of profitability using ALFA output.
  • Develops, expands, and maintains actuarial spreadsheets used to test product functionality on administrative and illustration systems
  • Works closely with Product Analysts and partners in IT and QA to communicate product features and specs, design testing plans, and resolve defects uncovered in the testing process
  • Assists in delivering exhibits, memoranda, and data for state filing approval




  • Collaborates with other actuarial and non-actuarial areas to share results and gather input on product development initiatives
  • Presents results to senior management for final approval
  • Articulates information in a way that can be interpreted and understood at all levels


Team and Project Management

  • Leads product development projects along timelines to completion
  • Plans strategies, anticipating what is ahead; prioritizes team and individual objectives based on the enterprise’s vision, mission, values and goals
  • Teaches and nurtures development of actuarial skills and knowledge within Actuarial Development Program participants on pricing team

Technical Knowledge

  • Develops and makes coding changes to actuarial pricing models and reviews the modeling work of team members
  • Provides subject matter expertise to applicable internal/external stakeholders
  • Maintains knowledge on current and emerging developments/trends for assigned area(s) or responsibility, assesses the impact, and collaborates with senior management to incorporate new trends and developments in current and future solutions



  • Undergraduate degree or 4+ years of comparable work experience; educational concentration in mathematics or actuarial science is preferred.
  • Fellow of the Society of Actuaries (FSA) designation or Associate (ASA) with additional years of actuarial experience.



  • 5-7+ years of applicable actuarial experience including  financial products and analysis that directly aligns with the specific responsibilities for this position
  • Proficiency with actuarial pricing software, such as MG-ALFA
  • Thorough knowledge of product development process and actuarial pricing techniques, methods, and software preferred
  • Analytical skills: ability to think critically, identify and solve potential challenges, and validate results
  • Sound understanding and knowledge of Statutory reserving, Generally Accepted Accounting Principles (GAAP), and Internal Revenue Service (IRS) regulations
  • A demonstrated track record of consistently meeting and/or exceeding performance expectations
  • Drives performance targets to completion



This position may be subject to Lincoln’s Political Contribution Policy.  An offer of employment may be contingent upon disclosing to Lincoln the details of certain political contributions. Lincoln may decline to extend an offer or terminate employment for this role if it determines political contributions made could have an adverse impact on Lincoln’s current or future business interests, misrepresentations were made, or for failure to fully disclose applicable political contributions and or fundraising activities.

Any unsolicited resumes/candidate profiles submitted through our web site or to personal e-mail accounts of employees of Lincoln Financial Group are considered property of Lincoln Financial Group and are not subject to payment of agency fees.

Lincoln Financial Group (“LFG”) is an Equal Opportunity employer and, as such, is committed in policy and practice to recruit, hire, compensate, train and promote, in all job classifications, without regard to race, color, religion, sex (including pregnancy), age, national origin, disability, sexual orientation, gender identity and expression, veterans status, or genetic information.  Applicants are evaluated on the basis of job qualifications.  If you are a person with a disability that impedes your ability to express your interest for a position through our online application process, or require TTY/TDD assistance, contact us by calling 260-455-2558.


Nearest Major Market: Greensboro

Job Segment: Developer, Accounting, Actuarial, Risk Management, Quality Assurance, Technology, Finance, Insurance