Nationwide Consultant, PC Actuarial Research Analyst in Columbus, Ohio
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JOB SUMMARY: Performs the most complex statistical analysis to determine pricing and market segmentation opportunities needed to create business strategies for pricing and underwriting. Works independently on complex multivariate statistical analyses (e. g. Generalized Linear Models). May lead team(s) of less experienced researchers with full accountability for completion of large and complex projects in the planning, design, and/or analysis phases. Uses existing data warehouse and pricing databases or creates databases by sourcing additional data or combining multiple sources in order to complete the analysis. Identifies research projects and builds case for completion. Reviews, validates, quality checks and provides guidance to the work of others.
Reports to Manager or Director; responsible for management of research project management and/or statistical staff. Typically, no direct reports.
Research: Consults with business customers to identify scope and specifications for largest most complex project requests and may initiate research/investigation of observed needs. Researches competitive industry trends, methodologies, and data sources to complete the project. Incorporates established best practices into research projects and final product.
Planning: Creates project plans based on customer input, data availability and best practices. May require planning and integration of work conducted by others. Establishes criteria, assumptions, data sets and parameters for robust and fully encapsulated analysis. Negotiates timelines, priority and format of final deliverables.
Analysis: Performs analysis of complex multivariate data and business scenarios based on experience and established department methodologies. Provides portfolio and trends analysis, vintage analysis, comparative analysis of markets/territories, actuarial judgment/ quantitative risk management judgment, and any additional assessment as indicated by project plan or ongoing identification of issues. Evaluates deliverables for accuracy, quality and relevance based on statistical and actuarial expertise.
Decision Making: Prepares and conducts presentations for, and holds discussions with business partners and department leadership business partner and department leadership. Interprets findings, provides options for consideration and recommendations for resolution of original issue/request.
Consulting: Provides guidance, information and support for regulatory review of work product. Provides ongoing consulting for Pricing and/or Product use of work product. Provides assistance for measuring the rate / profitability impact of work product.
Design/Development: Designs and develops standard reporting packages and monitors results of product performance. Validates and updates models periodically and provides validation reports.
Other: Contributes expert/actuarial opinion on the structure of analysis, interpretation of findings, and usefulness of results. Responsible for the development and maintenance of models and best practices to provide the functionality necessary to drive business objectives.
Support adherence to enterprise model governance standards. Support includes documenting models, developing and executing controls, developing and performing testing, and identifying model limitations.May lead core studies or portions of the studies that require extended timelines, extensive data collection, leveraging associate knowledge, identifying root cause and associated influence. Initiates or leverages competitive research findings.Peer reviews, validates and quality checks the work of others. Provides guidance to other associates.Performs other duties as assigned.
Typical Skills and Experiences:
Education: Undergraduate studies in statistics, data science, data analytics, actuarial science, mathematics, marketing research or related fields. Postgraduate degree strongly preferred.
Experience: Typically six years related experience with large data bases, analytical problem solving in a business environment, and with programming models and queries. Experience with SAS, SPSS, R, SQL or other software building predictive models and manipulating data. Experience working with insurance data and other comparable industry data experience to identify trends and opportunities. Experience in conceptualizing and designing models to address business needs. Experience in leading a statistical/actuarial based analytical project.
Knowledge: Detailed knowledge of data management, project management and complex data/actuarial analysis. Prefer some industry knowledge.
Skills/Competencies: Excellent verbal and written communication skills for interaction with business unit leadership and team members. Proven excellence in problem solving, analytical, research and quantitative analysis skills, and analytical working techniques including: regression, decision trees, multivariate analysis, etc. Proficiency in developing ad hoc queries using SQL and or SAS.
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 HR Business Partner.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Normal office environment; extended and/or non-standard work hours based on project and service delivery needs. Travel as needed.
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.
Job Family/Function: ACT/PCH
Evaluation Activity: JC/KP: update 2-2018
Additional Job Description
ADDITIONAL INFORMATION - PLEASE READ CAREFULLY
Compensation Grade: G4
Please note: This job may be filled at either the Consultant or Specialist level depending on the qualifications and related experience of the chosen applicants.
Ideal candidates for this position should be able to:
Work on a team requiring keeping other team members informed on issues and status of individual assignments.
Manipulate large datasets using SQL or other data querying tools.
Understand general insurance rate making practices with respect to the development, evaluation and updating auto classification rating plans.
Effectively communicate with technical and non-technical individuals including Depts. of Insurance.
Have some generalized linear modeling experience utilizing SAS, R, python or equivalent.
Have the ability to learn and quickly adapt to new technologies and data sources.
Job ID: 55472