Associate Actuary, Annuity Model Development

Alternate locations: Radnor, PA; Charlotte, NC; Fort Wayne, IN; Greensboro, NC; Hartford, CT; Omaha, NE. Hybrid work arrangement: 3 days per week in a Lincoln office. Relocation assistance is not available for this opportunity.

About the Role

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 explore your unique interests while developing essential actuarial, technical, management, communication, and leadership skills. The program includes a series of rotations, typically every 18-24 months, across business areas such as Life and Annuities, Retirement, and Group Protection. Experience gained 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 supports you in working toward your FSA designation and provides training and resources 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 and network with ADP participants
• 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

You will play an integral role focused on developing industry-leading model capabilities, working with modeling leads and stakeholders to perform model development and testing in the AXIS fixed and fixed index annuity models.

Responsibilities

• Perform development of the fixed and fixed index annuity models to support critical business processes, including Stat, GAAP, Tax Reserve, Asset Adequacy Testing, Asset/Liability Management, Financial Plan, Bermuda BEL, and Economic Capital projections
• Ensure proper documentation, review, and validation of model developments and enhancements
• Gain a thorough understanding of the existing AXIS fixed and fixed index annuity models and their applications
• Collaborate on the development of end-user tools to support model validation and analysis

Requirements

• 5+ years of actuarial experience
• Experience with Life and/or Annuity products
• Actuarial modeling and/or valuation experience, preferably in GGY-AXIS or comparable actuarial modeling software
• Effective communication skills
• Works well in a team environment

Qualifications

• ASA designation from Society of Actuaries (nice to have)
• Familiarity with regulatory/accounting/capital frameworks (STAT/GAAP/Tax, CFT/ALM/RBC, Bermuda BEL)
• Experience pricing annuity products and/or working on Cash Flow Testing, Financial Plan, and ALM projections
• Competency with Python, SQL, and/or Excel VBA
• Experience working with business intelligence tools (e.g., Tableau)
• History of innovation and process improvement

Benefits

• Clearly defined career tracks and job levels, with associated behaviors for Lincoln’s core values and leadership attributes
• 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
• Flexible work arrangements
• Effective productivity/technology tools and training

Pay

The pay range for this position is $79,601 - $145,100, with anticipated pay for new hires between the minimum and midpoint of the range. Pay is based on non-discriminatory factors including work experience, education, location, licensure requirements, proficiency, and qualifications. The base pay is one component of Lincoln’s total rewards package, which may also include eligibility for the Annual Incentive Program (discretionary and based on company, business unit, and individual performance), long-term incentives, sales incentives, and standard benefits.