Actuarial Sr. Director – Financial Experience Analysis and Assumption Setting

As a team member in the Finance and Internal Audit department at Nationwide, the opportunities are endless! You can grow and learn in diverse areas across many disciplines such as Advanced Analytics, Investments, Actuarial, Accounting, Risk Management, Critical Business Advisor and so much more. Let Nationwide help create your career journey! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

Actuarial Sr. Director – Financial Experience Analysis and Assumption Setting

This individual will lead a small team of direct reports with responsibility for experience analysis and setting the assumptions for all NF lines of business.  This work is used in all financial projections (pricing, forecasting, ALM, valuation).  This role requires regular analysis, updating and setting of assumptions.  This position will also be responsible for the affiliated data governance and infrastructure and will be required to fundamentally understand the business and to satisfy regulator and auditor requirements. 

Please Note: This position is preferred to sit in Columbus, OH, but may be open to working remotely in the United States.

Responsibilities:

• Building, maintaining, and adjusting policyholder behavior assumptions for Individual Annuity, Individual Life, PRT, Group Annuity, and Group Life products

• Collecting, structuring, and analyzing data that can inform policyholder behavior assumptions

• Building and maintaining predictive models for key assumptions

• Embracing advanced analytics techniques where appropriate, partnering with other advanced analytics professionals to drive standards of practice where applicable

• Communicating complex assumptions/topics to executive leadership

• Driving decision making process on assumptions

Preferred Experience:

• Preferred - Fellowship in the Society of Actuaries. Has membership in the Society of Actuaries and American Academy of Actuaries.  

• Experience with Advanced Data Analytics

• Demonstrated knowledge of data management

• Experience leading transformational change in a matrixed environment

This role will be staffed at the 8 pay band.

#LI-SM1

#LI-remote

Job Description Summary

Our Nationwide Financial Actuarial team members have opportunities to use state-of-the-art tools, are encouraged to innovate and learn to master actuarial methodologies. If this sounds like a place you could thrive, then we want to know more about you!

As a Senior Director, you’ll show a mastery of business operations, systems and actuarial methodologies. You will provide leadership, direction and oversight for the performance of sophisticated actuarial techniques and procedures and risk analysis. In addition, you’ll develop a strategic vision for the team to ensure efficient, consistent and integrated data and analysis. We’ll count on you to set strategy and business recommendations that are crucial to the success of Nationwide and the protection we provide our customers. You’ll need to work independently and may directly or indirectly lead others.

Job Description

Key Responsibilities:

• Builds models and assumptions to evaluate the pricing metrics of a product design to advise business and risk management leadership of the expected profitability and most significant risks associated with new product concepts. 

• Demonstrates expert knowledge of pricing assumption-setting, model building, actuarial analysis, product mechanics and embedded policy owner options, valuation and non-forfeiture law.

• Works with business leadership to craft innovative concepts and product designs to meet customer needs, while at the same time figuring out how the new concepts and products provide adequate risk adjusted return on capital and meet regulatory constraints. May also be involved with risk management leadership on innovative reinsurance concepts and redundant reserve transactions. Requires collaboration skills and knowledge of markets and distribution systems as well as the underlying actuarial expertise.

• Evaluates, updates and maintains models and assumptions as experience emerges to manage risk and periodically resolve capital use and expected return on capital. Advises and informs business and risk management leadership of recommended product or process changes to support profitable growth and capital strength.

• Educates and motivates the cross-functional team to deliver results. Communicates and influences to gain top-down support as well as approval.

• Builds materials to support the state and interstate compact approval, implementation and administration of new products, including filing demonstrations and actuarial specifications.

• Hires and develop talent, provides consistent coaching and feedback.

May perform other responsibilities as assigned.

Reporting Relationships: Reports to Actuarial leader. Manages a team of four or more Actuarial professionals.

Typical Skills and Experiences:

Education: Undergraduate degree in actuarial science, mathematics, statistics or similar background requiring modeling, programming or quantitative analysis. 

License/Certification/Designation: Achievement of Fellowship in the Society of Actuaries. Has membership in the Society of Actuaries and American Academy of Actuaries preferred.

Experience: At least eight years of actuarial experience and/or advanced analytics experience. Experience with statistical models, predictive models, data structuring, and knowledge of financial services product mechanics (annuity, life insurance, PRT, etc.) preferred.

Knowledge, Abilities and Skills: The role will require leadership, influence and communication skills. An ability to use past actuarial experience to apply to new product concepts and requirements, such as Principles Based Reserves, is required. 

Other criteria, including leadership skills, competencies and experiences may take precedence. 

Staffing exceptions to the above must be approved by the hiring manager’s leader and Human Resources Business Partner.

Values: Regularly and consistently demonstrates Nationwide Values.

Job Conditions: 

Overtime Eligibility: Not Eligible (Exempt)

Working Conditions: Normal office environment. Some travel may be required. 

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties. 

We currently anticipate accepting applications until 11/23/2024. However, we encourage early submissions, as the posting may close sooner if a strong candidate slate is identified before the deadline.

Benefits

We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.

This position could be filled within any of the lower 48 U.S. states.

#actuarial

Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.

For NY residents please review the following state law information: Notice of Employee Rights, Protections, and Obligations LS740 (ny.gov) https://dol.ny.gov/system/files/documents/2022/02/ls740_1.pdf

Nationwide pays on a geographic-specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range.

The national salary range for Sr Director, Actuary - NF - 170939 : $136,000.00-$268,000.00

The expected starting salary range for Sr Director, Actuary - NF - 170939 : $143,000.00 - $239,000.00

Apply