Director, Market Risk and Hedge Strategy

Alternate Locations: Radnor, PA (Pennsylvania)

Work Arrangement:

Hybrid : Employee will work 3 days a week in a Lincoln office

Relocation assistance: is not available for this opportunity.

Requisition #: 75892

The Role at a Glance

We are seeking a Director of Market Risk Strategy, in Market Risk and Hedge Strategy team, to help shape and advance the firm's approach to market risk, hedging, and capital efficiency for annuity products with embedded guarantees, with an emphasis on Variable Annuities (VA) and RILA, as well as other life/annuity products with embedded guarantees.

This is a strategy role grounded in reality. Success requires more than policy design or highlevel oversight - the role demands the ability to form, test, and refine hedging and risk strategies using real products, real models, and real constraints. The Director will operate at the intersection of capital markets, actuarial modeling, and product economics, influencing how risks are identified, measured, hedged, and monetized over the life of the business.

This role is ideal for someone who brings both actuarial depth and quantitative problem solving, and who can translate complex model dynamics into actionable risk and hedging decisions.

What you'll be doing

Market Risk & Hedging Strategy

• Lead the design, evaluation, and evolution of hedging strategies for VA and RILA, etc. products, with a clear link between liability behavior, hedge objectives, capital impacts, and financial outcomes
• Develop and assess hedge strategies using stochastic projections, scenario analysis, and sensitivity analysis, with attention to effectiveness, stability, and cost
• Challenge and refine hedge targets as products, markets, and capital frameworks evolve
• Identify opportunities to improve hedge efficiency, including synergies across products, hedge instruments, and risk exposures

Liability & Capital Aware Risk Strategy

• Apply a deep understanding of VM21 cash flow projections, liability convexity, and tail risk behavior to inform hedge design and interpretation of results
• Assess tradeoffs between hedging outcomes, statutory capital, earnings profiles, and long term value creation
• Partner with actuarial, finance, trading, reporting, and model teams to ensure hedging strategies are economically sound and aligned with broader capital objectives

Product & New Business Advisory

• Provide market risk leadership and advisory support to product design and review, ensuring market risks are understood, priced, and managed intentionally
• Influence product structures so that market risks can be internally offset, reused, or efficiently hedged
• Collaborate with product, pricing, and modeling teams on next generation VA/RILA designs and risk management solutions

Model Interpretation & Strategic Insight

• Work directly with largescale actuarial and financial models, not just outputs - understanding cash flows, assumptions, limitations, drivers, and sensitivities
• Translate complex model behavior into clear insights for senior stakeholders
• Identify model enhancements needed to better support hedging and risk decision making

What we're looking for

Must-haves:

• 7+ years of experience in market risk, hedging, actuarial, or quantitative risk roles within life insurance / annuities
• Demonstrated depth in VA and/or RILA products, with a clear understanding of embedded guarantees and market risk profiles
• Strong working knowledge of VM21, including stochastic cash flow projections and how liability behavior drives hedge outcomes
• Proven experience forming risk or hedging views based on stochastic modeling, scenarios, and sensitivities, not just deterministic summaries
• Solid understanding of derivatives, Greeks, and hedge instruments, sufficient to engage meaningfully on hedge construction and performance

Technical & Analytical Skills

• Experience working with complex actuarial or financial models (pricing, valuation, forecasting, hedging)
• Ability to navigate large datasets and model output efficiently
• Programming experience in Python, VBA, C++/C#, or similar, used to analyze models, results, or hedge performance (depth matters more than syntax)

Nice-to-haves:

• Experience in annuity pricing, valuation, or inforce management
• Handson exposure to annuity hedging programs or market risk functions
• Understanding of statutory capital, GAAP accounting, and hedging impacts
• Credentials such as FSA/ASA, CERA, CFA, or equivalent practical experience

What Success Looks Like

• Strong performers in this role are those who:
• Can connect products, models, markets, and capital into a coherent risk narrative
• Are comfortable challenging assumptions - actuarial or quantitative - when results don't align with economic intuition
• Move fluidly between strategic intent and model level detail
• Elevate hedging from a defensive risk management function to a source of sustainable value creation

Application Deadline

Applications for this position will be accepted through May 19th, 2026 subject to earlier closure due to applicant volume.

What's it like to work here?

At Lincoln Financial, we love what we do. We make meaningful contributions each and every day to empower our customers to take charge of their lives. Working alongside dedicated and talented colleagues, we build fulfilling careers and stronger communities through a company that values our unique perspectives, insights and contributions and invests in programs that empower each of us to take charge of our own future.

What's in it for you:

• 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

The pay range for this position is $96,900 - $176,200 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.

About The Company

Lincoln Financial (NYSE: LNC) helps people to confidently plan for their version of a successful future. We focus on identifying a clear path to financial security, with products including annuities, life insurance, group protection, and retirement plan services.

With our 120-year track record of expertise and integrity, millions of customers trust our solutions and service to help put their goals in reach.

Lincoln Financial Distributors, a broker-dealer, is the wholesale distribution organization of Lincoln Financial. Lincoln Financial is the marketing name for Lincoln Financial Corporation and its affiliates including The Lincoln National Life Insurance Company, Fort Wayne, IN, and Lincoln Life & Annuity Company of New York, Syracuse, NY. Lincoln Financial affiliates, their distributors, and their respective employees, representatives and/or insurance agents do not provide tax, accounting or legal advice.

Lincoln is committed to creating an inclusive environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

Follow us on Facebook , X , LinkedIn , Instagram , and YouTube . For the latest company news, visit our newsroom .

Be Aware of Fraudulent Recruiting Activities

If you are interested in a career at Lincoln, we encourage you to review our current openings and apply on our website. Lincoln values the privacy and security of every applicant and urges all applicants to diligently protect their sensitive personal information from scams targeting job seekers. These scams can take many forms including fake employment applications, bogus interviews and falsified offer letters.

Lincoln will not ask applicants to provide their social security numbers, date of birth, bank account information or other sensitive information in job applications. Additionally, our recruiters do not communicate with applicants through free e-mail accounts (Gmail, Yahoo, Hotmail) or conduct interviews utilizing video chat rooms. We will never ask applicants to provide payment during the hiring process or extend an offer without conducting a phone, live video or in-person interview. Please contact Lincoln's fraud team at fraudhotline@lfg.com if you encounter a recruiter or see a job opportunity that seems suspicious.

Additional Information

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 or candidate profiles submitted through our web site or to personal e-mail accounts of employees of Lincoln Financial are considered property of Lincoln Financial and are not subject to payment of agency fees.

Lincoln Financial ("Lincoln" or "the Company") 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, age, national origin or disability. Opportunities throughout Lincoln are available to employees and 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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