Associate Actuary - Internal Audit

The Role at a Glance

The Actuarial Development Program (ADP) at Lincoln Financial 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. The Actuarial Development Program includes a series of rotations, typically every 18-24 months. For each rotation, roles are 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. The program is designed to support you as you work towards your FSA and provide the training and resources necessary 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, 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 

We are seeking an Associate Actuary, Internal Audit to apply actuarial knowledge in support of Internal Audit engagements involving actuarial subject matter, including market risk, product development, pricing, reserving, and other actuarial functions. The role works closely with senior actuarial and audit team members to execute defined testing procedures, evaluate risks, controls, and processes, and support audit conclusions and recommendations.

This position is designed for an actuarial professional who has completed two rotations through the company's Actuarial Development Program and is interested in applying that experience in an Internal Audit setting. Prior Internal Audit experience is not required. With guidance, coaching, and regular review from experienced team members, you will support the evaluation of actuarial assumptions, models, and controls while building both technical actuarial depth and Internal Audit knowledge.

What you'll be doing

•Apply actuarial knowledge to support the assessment of the reasonableness of methodologies, assumptions, models, and results as part of audit engagements involving actuarial activities.
•Support audit planning activities by gathering information about actuarial processes, risks, and controls, and assist in developing actuarial testing procedures under the direction of senior team members.
•Perform defined technical actuarial testing, such as recalculations, data reconciliations, benchmarking, and reasonableness and sensitivity analysis, and support the evaluation of model governance, validation, and change management practices.
•Review assumption-setting documentation, experience studies, and supporting data, and raise questions or inconsistencies with senior team members for further evaluation.
•Support the evaluation of actuarial processes and controls, including data inputs, model and end-user computing controls, peer review, and the reporting of actuarial results to management.
•Document testing results and technical observations, and contribute to the preparation of audit observations and recommendations related to actuarial risks and controls.
•Communicate clearly with Internal Audit colleagues and business partners, and participate in client meetings and walkthroughs as directed.
•Seek and incorporate coaching and feedback from senior actuarial and audit team members, and share knowledge gained through Actuarial Development Program experience with the team.
•Remain informed of emerging actuarial risks, regulatory developments, and industry trends, and bring relevant considerations to the team.
•Learn and apply audit methodology, including risk assessment, audit execution, documentation, and reporting, in accordance with department policie and standards. Prepare work papers that clearly document actuarial testing performed, sources, results, and conclusions.
•Support tracking of remediation activities for actuarial-related issues, as directed by the audit lead.
•Build working relationships with Actuarial, Risk Management, Finance, and other first and second line partners, while maintaining independence and objectivity.
•Continue developing knowledge of actuarial standards of practice, industry regulations, and best practices, and of the company's products, operations, and regulatory obligations.
•Develop working knowledge of the Committee of Sponsoring Organizations of the Treadway Commission framework and carry out duties in compliance with the Institute of Internal Auditors' Global Internal Audit Standards, state and federal regulations, and company policies and procedures.

What we’re looking for

Must-haves:

•Successful completion of two rotations through the company's Actuarial Development Program (3+ years of experience).
•Bachelor's degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related field.
•Working knowledge of actuarial concepts, methodologies, and models, and practical experience applying them in areas such as market risk, asset-liability management, product development, pricing, valuation, or reserving, gained through Actuarial Development Program rotations.
•Demonstrated ability to analyze data and actuarial information, apply sound judgment, and effectively communicate findings and questions.
•Strong written and oral communication skills, including the ability to explain technical concepts clearly.
•Ability to manage assigned work and multiple priorities in a deadline-driven environment, with appropriate guidance and supervision.
•Willingness to learn Internal Audit methodology and apply it in conjunction with actuarial expertise. Prior Internal Audit experience and audit certifications are not required.
•Proficiency with Microsoft Office suite (Word, Excel, PowerPoint, Outlook).
•Upon Hire Certifications/Licensures: (5-8 Actuarial Exams passed; typically has ASA designation, progressing toward FSA designation.

Nice-to-haves:

•Progress toward the Associate or Fellow of the Society of Actuaries designation.
•Exposure to model validation, peer review, or actuarial governance and controls.
•Experience with data analytics and programming tools and with actuarial modeling and valuation platforms.
•Familiarity with internal control frameworks, risk assessment, or audit concepts.
•Interest in emerging technologies, including AI, and how they may impact actuarial and business risk.

Application Deadline

Applications for this position will be accepted through January 17th, 2027 subject to earlier closure due to applicant volume.