Actuary, Annuties Pricing

Date: Jan 13, 2019

Location: Hartford, CT, US

Company: Lincoln Financial

Alternate Locations: Hartford, CT (Connecticut)

Relocation assistance is not available for this opportunity.

Requisition #57935

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 $253 billion in assets under management as of December 31, 2017.

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 the Actuary, Annuity Pricing, you will be responsible for supporting the pricing of variable annuities. You will contribute to and/or lead pricing projects on the design, modeling, assumption setting, analysis, and state filing for new riders and contracts.  You will have the opportunity to present analysis on projects to various stakeholders, including product management, pricing review, and risk management.    

Responsibilities 

Pricing New Product Development

  • Lead annuity pricings projects for new product development or redesigns on both base contracts and riders as assigned by collaborating with key stakeholders
  • Determine appropriate assumptions and how to model new product features. 
  • Collaborate with product development team on product design to meet or exceed profitability and sales objectives.
  • Directs, develops, and/or runs complex pricing models and analysis for annuity contracts and rider benefits. 
  • Performs/leads pricing analysis using vendor or internally developed software, analyze the results for new/redesigned annuity contract and rider benefits, and provide consultation on actuarial models and risk issues.
  • Proactively identifies challenges and risks in product designs and proposes resolutions.
  • Present results of analysis to team members, key business partners, and senior management.
  • Provides subject matter expertise to team members and applicable internal/external stakeholders on complex assignments/projects for his/her assigned area(s) of responsibility.
  • Provide actuarial support for state filing or compliance, as needed
  • Develops pricing strategies and provide consultation/clarification on actuarial models and risk issues. 
  • Maintains awareness of developments in the actuarial industry

Risk Management

  • Supports analysis on risk management strategies, such as hedging and reinsurance, and their impact on product risk and profitability. 
  • Evaluate and respond to potential changes in investment options, risk managed fund strategies, regulatory requirements, and hedging strategies.
  • Design and develop model modifications as needed to enable analysis of complex actuarial issues.
  • Proactively identify and drive enhancements to the annuity pricing infrastructure.
  • Review modeling work of other team members and advise on improvements.

Communication

  • Communicate with product teams and others on issues and corporate standards

Organizational Effectiveness

  • Provides direction on complex assignments, projects, and/or initiatives to build and enhance the capability of his/her assigned area(s) of responsibility.
  • Directs and enhances organizational initiatives by positively influencing and supporting change management and/or departmental/enterprise initiatives within assigned area(s) of responsibility.
  • Identifies and directs the implementation of process improvements that significantly improve quality across the team, department and/or business unit for his/her assigned area(s) of responsibility.
  • Maintains knowledge on current and emerging developments/trends for assigned area(s) or responsibility, assess the impact, and collaborates with senior management to incorporate new trends and developments in current and future solutions.

Requirements

Education

  • Undergraduate Degree or 4+ years of comparable work experience; educational concentration in Applied Science or Mathematics is preferred.
  • FSA designation is required

Experience

  • 5-7+ years of experience in Actuarial positions that directly aligns with the specific responsibilities of the position. VBA or other programming skills preferred.
  • A demonstrated track record of consistently meeting and/or exceeding performance expectations.
  • Possesses a bias for action and avoids workplace distractions.
  • Drives performance targets to completion
  • Strong communication and problem solving skills
  • Ability to quickly learn and apply new skills and information
  • Strong curiosity and the ability to generate new ideas

 

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.

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