AVP, Annuity Inforce Model Governance (*remote consideration)

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Date: Apr 18, 2024

Primary Location: Radnor, PA, US

Company: Lincoln Financial

Alternate Locations: Radnor, PA (Pennsylvania)

Work Arrangement:

Remote : Work at home employee residing outside of a commutable distance to an office location.

Relocation assistance: is not available for this opportunity.

Requisition #: 73035

The Role at a Glance

As an AVP Annuity Inforce Model Governance, you will lead a team to perform comprehensive reviews of various models used in the Annuity business unit for purposes of valuation, projections, pricing, financial planning, and strategic projects. The focus of this team is to deliver value-adding, actionable model insights, improve stakeholder confidence in our modeling, and support inforce model management and implementation to drive business results.

This position will also provide the opportunity to positively impact decision making by refining the models used for long-term strategic plan. The individual will work with other teams to improve the understanding of the true shape of inforce capital generation to uncover key business insight for management.

What you'll be doing

Lead a team to provide detailed reviews of modeling work performed by the model development team and ensuring robust documentation of the reviews.
Lead a team to perform an independent comprehensive model validation for key model changes including key data inputs, assumptions, and model calculations.
Partner with model development team lead and other subject matter experts to advise the qualified actuary and other key stakeholders on the level of model review required for a particular model change.
Lead a team to develop, improve, and/or maintain various model validation tools.
Engage with model developers and other stakeholders to communicate model review findings and develop appropriate solutions.
Support inforce model management and implementation, including ensuring appropriate governance activities have been completed and documented.
Review financial projection model used for long-term strategic plan, identify & research issues in models, and provide solutions.
Establish effective working relationships and trust with key stakeholders, such as the Valuation, Qualified Actuary, and Appointed Actuary teams
Act as a subject matter expert on Annuity product mechanics, modeling approach, and materiality and appropriateness of any modeling simplifications
In partnership with management and stakeholders, design and implement process improvements to governance, controls, and/or oversight

What we’re looking for

10+ years of experience in actuarial science that directly aligns with the specific responsibilities of this position, including 3+ years of managerial, supervisory, and/or demonstrated leadership experience
Fellow of the Society of Actuaries (FSA) designation or Associate (ASA) with additional years of actuarial experience
Expert level knowledge of modeling annuity mechanics and product strategies
Experience in reviewing and assessing the appropriateness of complex models (AXIS preferred)
Strong understanding of regulatory and accounting frameworks (Stat/GAAP/Tax/RBC)
Comfort working with and communicating across various teams and levels of seniority, including effective challenge and independent thinking
Strong project management skills, including critical ability to coordinate and balance multiple projects in a time-sensitive environment with occasionally changing priorities
Experience leading early to mid-career actuaries
Advanced analytical and problem-solving skills
Understanding of capital markets and financial instruments (assets and derivatives) that support annuity products
History of innovation and process improvement
Proficiency with business intelligence tools (e.g. Tableau), and advanced Excel skills a plus

What’s it like to work here?

At Lincoln Financial Group, we love what we do. We make meaningful contributions each and every day to empower our customers to take charge of their lives. Working alongside dedicated and talented colleagues, we build fulfilling careers and stronger communities through a company that values our unique perspectives, insights and contributions and invests in programs that empower each of us to take charge of our own future.

What’s in it for YOU:

Clearly defined career tracks and levels to help you successfully manage your career
Leadership development and virtual training opportunities
PTO/parental leave
Competitive 401K and employee benefits
Free financial counseling, health coaching and employee assistance program
Tuition assistance program
A leadership team that prioritizes your health and well-being; offering a remote work environment and flexible work hybrid situations
Effective productivity/technology tools and training

Pay Range: $140,701 - $256,200

Actual base pay could vary based on non-discriminatory factors including but not limited to work experience, education, location, licensure requirements, proficiency and qualifications required for the role. The base pay is just one component of Lincoln’s total rewards package for employees. In addition, the role may be eligible for the Annual Incentive Program, which is discretionary and based on the performance of the company, business unit and individual. Other rewards may include long-term incentives, sales incentives and Lincoln’s standard benefits package.

About The Company

Lincoln Financial Group helps people to plan, protect and retire with confidence. As of Dec. 31, 2023, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection and retirement plan services. As of December 31, 2023, the company had $295 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, Pa., Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at LincolnFinancial.com.

Lincoln is committed to creating a diverse and inclusive environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

Be Aware of Fraudulent Recruiting Activities

If you are interested in a career at Lincoln, we encourage you to review our current openings and apply on our website. Lincoln values the privacy and security of every applicant and urges all applicants to diligently protect their sensitive personal information from scams targeting job seekers. These scams can take many forms including fake employment applications, bogus interviews and falsified offer letters.

Lincoln will not ask applicants to provide their social security numbers, date of birth, bank account information or other sensitive information in job applications. Additionally, our recruiters do not communicate with applicants through free e-mail accounts (Gmail, Yahoo, Hotmail) or conduct interviews utilizing video chat rooms. We will never ask applicants to provide payment during the hiring process or extend an offer without conducting a phone, live video or in-person interview. Please contact Lincoln's fraud team at fraudhotline@lfg.com if you encounter a recruiter or see a job opportunity that seems suspicious.

Additional Information

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, Veteran 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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