Associate Actuary, Annuities Pricing

Date: Dec 28, 2018

Location: Hartford, CT, US

Company: Lincoln Financial

Alternate Locations: Fort Wayne, IN (Indiana); Greensboro, NC (North Carolina); Hartford, CT (Connecticut); Radnor, PA (Pennsylvania)

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

Requisition #57990

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

This position encompasses three major functions for variable and fixed annuity pricing: risk analysis, model governance, and pricing analysis.  The participant will determine the drivers behind the impacts to pricing and communicate results to model stakeholders, becoming an expert and key resource for the team.  The participant will work to minimize model risk through continuous improvement of our infrastructure and processes.  The participant will also be involved in various risk analysis projects relating to changes in fund design, hedging, regulatory requirements, assumption development, and more.  This position offers high visibility to management, with the opportunity to present up to the SVP level and collaborate both within and across teams.

 

Pricing Analysis

  • Perform 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.
  • Determine appropriate assumptions and how to model new product features. 
  • Present results of analysis to team members, key business partners, and management.

 

Risk Analysis

  • Analyze risk management strategies, and various reserve and capital requirements. 
  • Evaluate potential changes in investment options, fund strategies, regulatory requirements, and hedging strategies.
  • Design and develop model modifications as needed to enable analysis of complex actuarial issues.
  • Assist in the development of new scenario sets and evaluate their impact.

 

Model Governance

  • Develop into subject matter expert for team members and applicable internal/external stakeholders on complex assignments/projects.
  • Update and maintain the logic, functionality, and assumptions of multiple pricing models, reducing model risk through effective communication and organization.
  • Proactively identify and drive enhancements to the annuity pricing infrastructure.
  • Review modeling work of other team members and advise on improvements.
  • Collaborate with Corporate team on assumption setting and model governance.

 

The Program

The Actuarial Development Program (ADP) at Lincoln Financial Group is an industry-leading program that demonstrates Lincoln Financial’ s commitment to creating highly qualified business leaders.  As an ADP participant, you’ll be able to explore your unique interests while developing the essential actuarial, technical, management, communication, and leadership skills you need to succeed.
Program participants receive up to 175 hours of company time to study per exam sitting. Lincoln Financial Group purchases required exam materials and pays exam fees in advance for each program participant.

 

Requirements

 

Education

  • Undergraduate degree in Actuarial Science, Applied Mathematics, Statistics, Economics, Computer Science, or other quantitative major is required.
  • At least 5 SOA exams passed.

 

Experience

  • 3-5+ years of experience in Actuarial positions that directly aligns with the specific responsibilities of the position.
  • Strong work experience
  • Demonstrated leadership experience
  • 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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