Associate, Actuarial

$48,301 - $87,100/Yr

Lincoln Financial Group - Boston, MA

Full-time - Entry Level

Remote - Boston, MA

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

The Actuarial Development Program (ADP) at Lincoln Financial Group is designed to cultivate highly qualified business leaders in the actuarial field. Participants will engage in a series of rotations across various business areas, gaining essential actuarial, technical, management, communication, and leadership skills. The program supports participants in passing Society of Actuaries' exams and aims to develop well-rounded actuaries with diverse knowledge in areas such as Product Development, Pricing, and Risk Management.

Responsibilities

• Support the group's actuarial responsibilities across multiple lines of business.
• Deliver insightful, value-add, actionable analytics and governance to drive business results.
• Develop new insurance products or re-price existing products based on customer needs.
• Conduct pricing analysis using actuarial software and analyze pricing results for annuity contracts.
• Perform asset adequacy and cash flow testing using actuarial software.
• Create monthly, quarterly, and annual reserves and financial statements.
• Develop and analyze business models to assess portfolio holdings.
• Gather, validate, and analyze statutory reserves and capital for holding company entities.
• Improve efficiency of technological tools used for asset adequacy testing and statutory reporting.
• Build on existing automation efforts with Dataiku and Tableau to enhance efficiency and presentation of results.
• Maintain existing actuarial models/tools and assist with troubleshooting.
• Develop, expand, and maintain validation tools for model results verification.
• Perform dynamic validation and analyze actual against modeled assumptions.
• Partner with teams to understand risks posed by new products and recommend approaches to reflect risk.
• Present findings to actuarial and non-actuarial leaders in assumption review committee meetings.
• Support the group's actuarial initiatives and complete assigned projects with impactful outputs.

Requirements

• 0-1 years of actuarial experience
• Bachelor's degree in Actuarial Science or Mathematics
• A minimum of 1-2 Actuarial exams passed
• Commitment to continuing the actuarial exam process to obtain ASA Certification
• Driven, motivated, and resourceful problem-solver with critical thinking skills.

Nice-to-haves

• Experience with actuarial and data science software such as MG-ALFA, Axis, Prophet, Dataiku, R, and Tableau.

Benefits

• Highly competitive compensation package with salary increases and bonuses upon successful exam completion
• Social and training opportunities to enhance skills and network
• Dedicated leaders and mentors for career development
• Generous study time allowances for each exam session
• Payment and/or reimbursement of actuarial exam fees and materials
• Tuition assistance program
• Free financial counseling and health coaching
• Remote work environment and flexible work hybrid situations