About The Company
Lincoln Financial Group is a Fortune 500 company offering a diverse range of financial services and solutions. With a strong focus on four core business areas - life insurance, annuities, retirement plan services, and group protection - our business is built around supporting, preserving, and enhancing our customer's lifestyles and providing better retirement outcomes. Led by over 8,000 employees, Lincoln Financial provides the tools and advice to help individuals take charge of their futures.
This position plays an integral role in the pricing, implementation, and experience reporting of new and existing worksite and group life products. The student will participate in the design, modeling, and rate development for new products and then work with IT and BSO to ensure that the products function correctly on the administrative and quoting systems. As part of the Market Solutions team, the student will collaborate with internal partners (product, actuarial, underwriting) as well as members of other business units across the organization including finance, distribution, marketing, legal/compliance, and claims to help deliver products to the marketplace that meet corporate profitability standards and provide compelling value to policyholders.
Assist with the monthly and quarterly preparation of management reports analyzing product experience and the impact on profitability Tasks include data and trend analysis of mortality results, relationships to manual on sold business, renewal increase tracking etc. Modeling
Build models to price new products and manipulate existing models to test various scenarios, sensitivities, and sales opportunities Develop a thorough understanding of model assumptions, product mechanics, and reserving/financial regulations in order to validate each component of model output Develop tools in order to facilitate rate development, loading of rates into ALFA, and analysis of profitability using ALFA output. Pricing Analysis and Documentation
Assists in the annual rate development for the Group Life product Clearly and consistently document steps used in pricing process and results obtained Help to develop and deliver presentations of pricing results to business partners and senior management Administration & Filing Support
Develops, expands, and maintains actuarial spreadsheets used to test product functionality on administrative, quoting and enrollment systems Works closely with Product Analyst and partners in IT and QA to communicate product features and specs, design testing plans, and resolve defects uncovered in the testing process Assist in delivering exhibits, memoranda, and data for state filing approval. Enterprise/Strategic Thinking
Continually seek and implement process improvement and automation for reporting and other tasks the team supports Gain knowledge about company operations, systems, actuarial methodologies and industry trends Relationships
Maintains good standing and an active role in the Lincoln Actuarial Development Program Build and maintain strong relationships with internal business Job Requirements Requirements
Undergraduate degree or 4+ years comparable work experience, Educational concentration in Actuarial Science is preferred Experience
1-3+ years of actuarial experience that directly aligns with specific responsibilities of position 3 exams passed Strong problem solving ability and intellectual curiosity Programming/modeling experience preferred Priority setting, time management and organizational skills General insurance / business knowledge Excellent oral and written communications skills, adaptable to a wide variety of audiences 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 - 2 years ago
Lincoln Financial Group is a diversified financial services organization headquartered in the Philadelphia region. With $150 billion as of...