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Lincoln Financial Group Associate Actuary, Annuity Model Implementation in Fort Wayne, Indiana

Alternate Locations: Boston, MA (Massachusetts); Fort Wayne, IN (Indiana); Greensboro, NC (North Carolina); Radnor, PA (Pennsylvania)

Relocation assistance is not available for this opportunity.

Level: P3

Requisition #64696

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 customer’s 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 $238 billion in assets under management as of December 31, 2018.

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

The Associate Actuary, Annuity Model Implementation will play an integral role in major model development projects, including the changes to GAAP valuation that result from FASB’s Long Duration Targeted Improvements (LDTI). The position will also collaborate on enhancements to the overall Annuity and Retirement Products model environment, which includes models for Asset/Liability Management, Economic Capital, Variable Annuity Reserving, and Asset Adequacy Testing. This role is involved in the generation of model enhancement ideas, their coding, implementation, and testing, as well as presentations to the team and management. This individual interacts with other modeling and valuation actuaries to design and implement new methods, analytics, and process improvements. The position provides a broad range of experience and responsibilities

Responsibilities

Model Implementation

  • Gain a thorough understanding of the existing models, the methods and assumptions incorporated in them, and the associated valuation requirements and modeling applications.

  • Collaborate with colleagues on the ARVM design, production and implementation teams, and with business unit partners, to design and implement model changes and test and present the results.

  • Participate in the development of modeling approaches for new products, methods, and assumptions.

  • Develop strong expertise with the MG-ALFA system and other software tools to leverage for continuous model improvement.

Modeling Process Development

  • Collaborate with colleagues to identify improvements to modeling processes, and then implement and document the changes.

  • Develop tools to improve model efficiency and gain insight into the analysis of results.

Model Validation and Governance

  • Develop, expand, and maintain spreadsheet tools used to validate MG-ALFA results.

  • Create and maintain proper documentation of model changes and validation results.

  • Assist in developing and executing model controls and governance structures.

LDTI Framework:

  • Develop strong knowledge of the new GAAP LDTI valuation requirements, as applicable to annuity modeling.

  • Participate in the development and implementation of modeling solutions for LDTI, in preparation for full effectiveness.

Team Environment:

  • Work with a team of professionals on a variety of modeling projects, including implementation, validation, and the communication of results.

  • Partner and collaborate with other functional areas of the company to identify and share modeling best practices, including modeling assumptions.

The 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.

Program participants receive up to 175 hours of company time to study per exam sitting. Lincoln Financial Group purchases required exam materials and pays exam fees in advance for each program participant.

Education

  • 4 Year/Bachelor's degree or equivalent work experience (4 years of experience in lieu of Bachelor's) - Minimum Required

Certifications

  • 5-8 Actuarial Exams passed; typically has ASA designation, progressing toward FSA designation. -Upon Hire

Experience

3 - 5+ Years experience in actuarial science that directly aligns with the specific responsibilities for this position (Required )

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, 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.

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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. Opportunities throughout LFG are available to employees and applicants and are evaluated on the basis of job qualifications. We have a drug free work environment and we perform pre-employment substance abuse testing.

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