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Actuary, Actuarial Pricing and Analytics, Annuities

Lincoln Financial Group Hartford, CT
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Job Description

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


Relocation assistance is not available for this opportunity.



Requisition #57849


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 customers 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 and Analytics, youwill be responsible for supporting the pricing and risk analytics for variable and fixed annuities. You will work with many functional units within and outside Insurance Solutions, defining and documenting best practices to minimize model risk through various analysis including changes to fund design, hedging, regulatory/ accounting requirements, assumption development and more.

Responsibilities

Pricing and Risk Analytics

  • Provide modeling and thought leadership towards FASBs Targeted Improvements to the Accounting for Long-Duration Contracts, with focus on MRB for Annuity GMxBs. Evaluate impact on Annuity guarantees and profitability. Formulate recommendations on product features and risk management to enhance Lincolns position, balancing various performance metrics strategically.
  • Analyze and provide direction on risk management strategies, such as hedging and reinsurance, and their impact on product risk and profitability.
  • Evaluate potential enhancements 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.
  • Develop subject matter expertise in both capital market and actuarial assumptions
  • Develop stochastic pricing scenarios for investment options and evaluate their impact.
  • Proactively identify and drive enhancements to the annuity pricing infrastructure.
  • Support the modernization of annuity capital allocation, enhancing the reflection of hedge strategies.
  • Represent Annuity pricing in cross-functional risk management initiatives.
  • Perform pricing analysis using vendor or internally developed software, analyze results for new/redesigned annuity contract and rider benefits, and provide consultation on actuarial models and risk issues.
  • Determine appropriate methodology and assumptions to model new product features.
  • Update and maintain the logic, functionality, and assumptions of multiple pricing models, reducing model risk through effective communication and organization.
  • Review modeling work of other team members and advise on improvements.
  • Present results of analysis to team members, key business partners, and senior management.

Project Management

  • Lead annuity projects as assigned and collaborate with business partners.
  • Provide subject matter expertise to team members and applicable internal/external stakeholders on complex assignments/projects for his/her assigned area(s) of responsibility.
  • Ensure group's processes and procedures are compliant.

Communication

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

Organizational Effectiveness

  • Provide direction on complex assignments, projects, and/or initiatives to build and enhance the capability of his/her assigned area(s) of responsibility.
  • Direct and enhance organizational initiatives by positively influencing and supporting change management and/or departmental/enterprise initiatives within assigned area(s) of responsibility.
  • Identify and direct 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.
  • Maintain knowledge on current and emerging developments/trends for assigned area(s) or responsibility, assess the impact, and collaborate 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 Actuarial Science or Mathematics is preferred.
  • FSA designation is required.

Experience

  • 7+ years of experience in Actuarial positions that aligns with 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.


This position may be subject to Lincolns 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 Lincolns 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.






Job Details

Date Posted December 2, 2018
Date Closes January 1, 2019
Requisition 57849-en_US
Located In Hartford, CT
Department Actuarial
SOC Category 00-0000.00
Location