Associate Actuary - Corporate Finance, Appointed Actuary Team (Remote Consideration)

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Date: Sep 6, 2023

Primary Location: Radnor, PA, US

Company: Lincoln Financial

Alternate Locations: Radnor, PA (Pennsylvania)

Work Arrangement:

Hybrid/Common Days+ : Work 2-3 days a week in a Lincoln office with a designated workspace.

Relocation assistance: is not available for this opportunity.

Requisition #: 72279

The Role at a Glance

The Actuarial Development 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. The Actuarial Development Program includes a series of rotations, typically every 18-24 months. For each rotation, roles are available in different business areas including Life and Annuities, Retirement and Group Protection. Experience gained will enable participants to become well-rounded actuaries with knowledge that may include Product Development, Pricing, Valuation, Modeling, Risk Management, Asset Liability Management, Investments, Data Analytics, and Internal Audit.

ADP participants are expected to pass the Society of Actuaries’ exams at a prescribed pace. The program is designed to support you as you work towards your FSA and provide the training and resources necessary to become a well-rounded actuarial leader.

Additional Program Highlights:

Highly competitive compensation package with salary increases and bonuses upon successful exam completion
Social and training opportunities to enhance skills, network with ADP participants and build long-lasting industry relationships
Dedicated leaders and mentors to assist with career development
Work with actuarial and data science software and technologies including MG-ALFA, Axis, Prophet, Dataiku, R, and Tableau
Generous study time allowances for each exam session
Payment and/or reimbursement of actuarial exam fees, materials, review courses, and seminars taken during the program

As part of Corporate Finance, the Appointed Actuary team focuses on Asset Adequacy Testing, PBR reporting, Annual Statement preparations, financial projections and modeling, regulatory compliance, and special projects for all lines of business. Reporting to the Assistant Appointed Actuary, this position will support the team as it engages in the company’s quinquennial actuarial audit (both Indiana and New York), which will encompass statutory reserving, Asset Adequacy Testing/Cash Flow Testing, capital, reinsurance and asset modeling. The position will also assist in the annual Asset Adequacy/Cash Flow Testing and PBR reporting exercises, supporting the analysis and review of the results, and required reporting. This position will utilize Dataiku and Tableau to perform the analytics and create dashboards and reporting tools to help with the team’s analysis. The position will also support regulatory requests, risk management analytics, ensure regulatory compliance and additional ad-hoc initiatives.

The team has the goal of building collaborative relationships across the organization as it aids in regulatory compliance and risk management oversight. The team is also charged with ensuring consistency of assumptions, developing appropriate risk management methodologies, and pricing standards, and promoting governance across the enterprise. The team has the pleasure of working with all business units across all actuarial functions, as well as additional departments such as Investments, Legal, Stat Reporting, ERM and MRM. This position offers an exciting opportunity to learn about the company from a different perspective while expanding business knowledge and growing as an actuarial leader in the organization.

What you'll be doing

Assist in leading the quinquennial actuarial audit, consisting of both the Indiana and New York state exams
- Consolidate, compile and review responses to all actuarial requests/questions sent by the auditors
- Maintain an organized and user-friendly repository of audit requests (status of requests, internal responses received, sign-offs, etc.)
- Coordinate responses across all applicable business lines
- Ensure changes recommended by auditors are appropriately incorporated into results and/or documentation
- Interpret regulatory framework and changes
Assist in compiling the VM-31 Principle Based Reserve Report
- Ensure compliance with Valuation Manual and regulatory guidance, where applicable
Compile certain annual statement exhibits, such as Exhibit 5 and the New York Supplement, which involves working with actuarial and accounting teams for all lines of business and understanding the full book of business
Support annual Asset Adequacy Testing process, including:
- Leading audit responses for annual external audit (currently EY)
- Review and prepare supporting regulatory filings
- Interpret regulatory framework and changes
- Ensure compliance with Valuation Manual and state regulations
Analyze model output and financial projections using technology tools such as Dataiku and Tableu
- Improve and develop controls and analytic reports used in review of financial projection results
Support Appointed Actuary Team in Corporate Finance initiatives and projects
Model Validation: Perform dynamic validation and analyze actual versus modeled assumptions
Process Improvement: Improve efficiency of technological tools used for financial projections such as asset adequacy testing and statutory reporting (Dataiku)
New Product Reviews: Participate in product reviews for all lines of business and identify key risks and impacts of new products and features
Research and coordinate responses to questions from regulatory requests and requirements, auditors, etc.
Make a positive contribution as demonstrated by making suggestions for improvement and learning new skills, procedures and processes
Analyze and synthesize information from multiple sources in varying degrees of completeness and clarity to develop and present actuarial recommendations to different levels of management and other stakeholders

What we’re looking for

Minimum 2 prior actuarial rotations
ASA required
Basic understanding and knowledge of statutory and GAAP reporting
Confident, comfortable communicator with strong written and verbal communication skills
Project management skills and ability to meet firm deadlines
Ability to adapt to shifting priorities
Finds common ground and can gain collaboration among peers; can influence outcomes without directing or commanding
Ability to work with others in a team environment
Demonstrated ability to identify and recommend process improvements
Define problems, collect data, establish facts and draw valid conclusions.
Evaluate trends in data or information
Demonstrates strong project management leadership skills including critical ability to coordinate and balance multiple projects in a time-sensitive environment, under pressure, and meeting deadlines
Experience with actuarial modeling software (i.e. ALFA) a plus
Dataiku and Tableau desired but not required
Proficiency with Microsoft Office Suite (Word, Excel, PowerPoint, Outlook)

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:

A clearly defined career framework 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: $75,701 - $140,700

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 provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, approximately 16 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses.

Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $290 billion in end-of-period account balances net of reinsurance as of March 31, 2023.

Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and ranks among Newsweek’s Most Responsible Companies. Dedicated to diversity, equity and inclusion, we are included on transparency benchmarking tools such as the Corporate Equality Index, the Disability Equality Index and the Bloomberg Gender-Equality Index. Committed to providing our employees with flexible work arrangements, we were named to FlexJobs’ list of the Top 100 Companies to Watch for Remote Jobs in 2022. With a long and rich legacy of acting ethically, telling the truth and speaking up for what is right, Lincoln was recognized as one of Ethisphere’s 2022 World’s Most Ethical Companies®. We create opportunities for early career talent through our intern development program, which ranks among WayUp and Yello’s annual list of Top 100 Internship Programs.

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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