Senior Associate Actuary, Life New Business Risk and Profitability Oversight, Life Solutions

Date: May 8, 2019

Location: Hartford, CT, 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 #57920

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 a Senior Associate Actuary, Life New Business Risk and Profitability Oversight, you will be responsible for approval process for life insurance new product development by soliciting input from multiple reviewing actuaries and actuarial departments, securing review materials, and resolving objections.  The participant will prepare a recommendation for Financial Management senior leaders which consolidates the opinions from multiple reviewing actuaries and identifies key decision critieria.  The participant will become an expert and key resource for the team, connecting competitive, profitability, risk, and implementation concerns.

 

 

Responsibilities 

 

As a Senior Associate Actuary, Life New Business Risk and Profitability Oversight, you will be responsible for the approval process for life insurance new product development and the approval process for life insurance best estimate assumptions.  The processes require soliciting input from multiple reviewing actuaries and actuarial departments, securing review materials, and resolving objections.  The participant will prepare a recommendation for Financial Management senior leaders including the business unit CFO which consolidates the opinions from multiple reviewing actuaries and identifies key decision critieria.  The participant will become an expert and key resource for the team, connecting competitive, profitability, risk, and implementation concerns.

 

This role involves supervision of one direct report.

 

Responsibilities 

 

Product and Assumption Governance

 

  • Maintain a calendar of product initiatives and required assumption approvals
  • Schedule review meetings with presenters and key reviewers, defining required materials to be presented, establishing deadlines and responsible parties for completion
  • Collect and document approvals and comments from multiple actuaries
  • Provide recommendation for approval to Financial Management senior leaders
  • Maintain Product Governance Sharepoint as the centralized documentation for product profitability, governance standards, and new business assumptions
  • Host the Life Product Governance monthly meeting which facilitates cross-functional communication, including all Life Solutions actuarial teams

 

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.
  • 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.
  • ASA designation is required.
  • FSA designation strongly preferred.

 

Experience

 

  • 5-7+ years of experience in Actuarial positions that directly aligns with the specific responsibilities of the position.
  • Educational experience and/or proficiency in pricing of Life and/or Long Term Care products and valuation of Life and/or Long Term Care products.
  • Computer skills: Prophet, MG-ALFA, or similar actuarial projection software systems.
  • 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.

 

 

 

 

 

 

 

 

 

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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Nearest Major Market: Hartford

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