Christ's death and resurrection paid for the sins of His flock. He took on the punishment rightly due us so that we might stand acquitted before God.
Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life. And not only so, but we also joy in God through our Lord Jesus Christ, by whom we have now received the atonement. Wherefore, as by one man sin entered into the world, and death by sin; and so death passed upon all men, for that all have sinned: For until the law sin was in the world: but sin is not imputed when there is no law. Nevertheless death reigned from Adam to Moses, even over them that had not sinned after the similitude of Adam's transgression, who is the figure of him that was to come. But not as the offence, so also is the free gift. For if through the offence of one many be dead, much more the grace of God, and the gift by grace, which is by one man, Jesus Christ, hath abounded unto many." -- Romans 5:8-15"But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us.
Interesting. how does your denomination regard baptism then? Does being baptised "do" anything?