Associate Actuary, Annuity Pricing
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, with roles 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, with the program designed to support you as you work towards your FSA.
The primary purpose of the Associate Actuary, Annuity Pricing role is performing ad hoc pricing analysis for retail annuity products, including fixed, fixed indexed, registered index-linked, and variable annuity products.
Responsibilities
- Pricing/Risk Analysis: Perform foundational and exploratory pricing analysis across Lincoln’s suite of retail annuity products (including registered index-linked annuities, fixed annuities, fixed indexed annuities, and variable annuities) using vendor software and internally developed software and tools.
- Special Projects: Participate in ad hoc initiatives related to product development, implementation, assumption setting, pricing modeling, corporate risk management initiatives such as ERM and capital management, and other strategic projects.
- Analytical/Technical Support: Maintain existing tools/models and develop new tools or methodologies as needed to support new capabilities or improve accuracy and efficiency.
- Pricing Documentation: Prepare documentation of processes, tools, assumptions, and/or key decisions made.
- Collaboration & Communication: Collaborate with business partners on various initiatives. Present results to team members, key stakeholders, and management.
Qualifications
- 4 Year/Bachelor’s degree (or equivalent) — minimum required
- 3–6+ years of actuarial experience
- ASA designation preferred
- Strong technical, analytical, and critical-thinking skills
- Capability to be productive in a dynamic environment with changing priorities and responsibilities
- Motivated and collaborative with an optimistic outlook
- Effective written and verbal communication skills
Benefits
- 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
- Clearly defined career tracks and job levels, along with associated behaviors for each of 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
- Work arrangements that work for you
- Effective productivity/technology tools and training
Pay
The pay range for this position is $94,875 – $151,800 with anticipated pay for new hires between the minimum and midpoint of the range and could vary above and below the listed range as permitted by applicable law. Pay is 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.
Schedule
Hybrid: Employee will work 3 days a week in a Lincoln office. Relocation assistance is not available for this opportunity.
Locations
Alternate locations: Radnor, PA; Charlotte, NC; Fort Wayne, IN; Greensboro, NC; Hartford, CT; Omaha, NE.