AVP, Finance - E&S/Specialty Alternative Ventures

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.

Please Note: This position is open to working remotely in the United States.

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Job Description Summary

Do you have a big picture point of view as well as a keen eye for details? Our success depends on staying ahead of the curve, making sure our businesses and leaders are on top of financial trends and changes. If you are a highly skilled business professional, who can develop and communicate financial information and forecasts, we want to hear from you!

As an AVP, you’ll lead all financial and new program and partnership development activities related to Excess & Surplus Specialty (E&SS) Alternative Ventures from strategic design to value creation and delivery execution. You’ll direct cross functional teams to set policies and procedures for each new Alternative Ventures deal that is identified and launched. You’ll provide top-level consultation and advanced solutions to senior management on the most innovative and unique partnerships & ventures including capital deployment and reinsurance fronting arrangements.

Job Description

Key Responsibilities:   

• Develops and leads the financial design, evaluation, and implementation of new Alternative Ventures for Excess & Surplus Specialty. 

• Leads the financial assessment of new products, potential acquisitions, partnerships, assumed reinsurance and other transactions related to Alternative Ventures. 

• Provides oversight and manages the financial integration of all existing and new Alternative Ventures. 

• Serves as the primary liaison between alternative venture organizations and Nationwide, including communicating regularly with venture CFOs on coordinating use of contractors, staffing, and consulting work on capital management. 

• Serves as a voting member of several steering and working group committees including Geneva Re Reserve Committee, Geneva Re Underwriting Committee and Geneva Re Planning Working Group. 

• Acts as a Business Sponsor/Delivery Executive for Geneva Re and Ryan Alternative Risk Project implementation which includes the advisement on agency contract agreements, providing input on reinsurance agreements and setting appropriate fronting fees to be negotiated. 

• Establishes, maintains, and continuously improves processes around vetting and launching new Alternative Ventures programs/partnerships.  Provides analysis and support for Geneva Re, N2G and Ryan Alternative Risk decisions including structure, ongoing performance monitoring and fronting fees. 

• Oversees and is responsible for all finance activities regarding planning and forecasting.  Conducts expense oversight/management, including the establishment of business startup expenses as well as oversight on Technology build related spend. Oversees preparation and review of Underwriting leadership cell reviews. 

• Builds, maintains, and influences relationships involving all enterprise business and staff offices, vendor systems, customer training, insurers, reinsurers, and brokers. Directs administration of the settlements of programs, analysis, and modification of reinsurance agreements, sharing insights/support for Corporate Reinsurance treaties, work through accounting entries, support ongoing maintenance of terms and conditions relative to Programs/Risks. 

• Communicates and presents financial results and projections, risk, and opportunity analysis to Executive Leadership team, OCFO and business unit management teams. Assists in the planning, development, and creation of Senior Leadership business briefings and presentations for internal and external audiences. 

• Serves as the subject matter expert leader for all things Geneva Re and Alternative Risks. Uses knowledge to educate train cross functional leadership and many other levels of leadership. 

• Oversees associate management including performance management, salary planning, training and development, workflow, and organizational planning, hiring and placement, and disciplinary actions. 

May perform other responsibilities as assigned.   

 

Reporting Relationships: Reports to VP, CFO – E&S Specialty & Commercial Lines; Manages a team of three finance professionals.   

 

Typical Skills and Experiences:  

 

Education: Undergraduate studies in Finance or Accounting.  MBA preferred.  

 

License/Certification/Designation: CPA preferred. 

 

Experience: Typically, ten or more years of finance experience in alternative risk. Typically, three or more years of managing a team. 

 

Knowledge, Abilities and Skills: Proven extensive knowledge of property and casualty business operations, financial systems, insurance accounting, and financial reporting (GAAP and Statutory). Demonstrated strong financial and technical insurance skills, excellent communication abilities, and demonstrated critical and creative thinking. Proven leadership, including the ability to lead with courage and emotional intelligence, is essential. Must be adept at talent development, building business cases, and providing executive-level recommendations. 

 

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 Resource Business Partner. 

 

Values: Regularly and consistently demonstrates Nationwide Values. 

 

Job Conditions:   

 

Overtime Eligibility: Not Eligible (Exempt) 

 

Working Conditions: Normal office environment.   

  

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 12/08/2024. 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.

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 AVP, Finance - E&S/Specialty Alternative Ventures : $140,000.00-$277,000.00

The expected starting salary range for AVP, Finance - E&S/Specialty Alternative Ventures : $147,000.00 - $247,000.00

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