Nationwide Dir Actuary, Specialty Ins in Columbus, Ohio

Job ID: 51485


This role is a part of NationwideSpecialty Insuranceand will have 3 direct reports.

Main responsibilities are:

  • Preparing and filing actuarial material (actuarial memorandums and certifications, rate manuals, etc) with the states for various NIS Products.

  • Supporting the Account Executives by providing product insights and analyses, experience reports, pricing strategies, pricing tools, and other ad-hoc needs.

  • Provide support for new business opportunities from a financial/actuarial/risk perspective.

  • Continuing to build the programs’ expertise by improving data analytics.

  • Provide pricing and risk evaluation support for reinsurance and profit share contracts.

  • Help drive the team’ engagement and development.

The individual for this role must be an FSA with minimum of 6 years experience OR an ASA with a minimum of 10 years A&H industry experience. Minimum 3 years in a managerial role strongly desired.

Youmay participate in the EXCELerate Leaders Assessment (ELA) as part of your People Leader application process.

Summary: Responsible for the pricing and profitability ofeither theProgram Products (Stop Loss, International Travel Medical, Trip Cancellation, Limited Medical, Mini-Medical, Sports & Leisure) orthe WorkPlace products (Life, AD&D, Dental, Short term Disability, Long Term Disability, Vision).Responsible for a wide variety of actuarial assignments in compliance with the Society of Actuaries Standards of Practice.Develops the basis for, and analyzes advanced actuarial studies for health or group insurance. Leads projects and mentors actuarial staff. Drafts and files rates and rate manuals. Accountable for communication and interactions with internal and external partners.

Reporting Relationships: Reports to AVP, Act Risk Prog Mgt – Spec Ins.Responsible for 3-5 direct reports.

Core Duties and Responsibilities:

  • Prepares and files actuarial material (actuarial memorandums and certifications, rate manuals, etc) with the states for multiple NIS Products.

  • Supports the Account Executives by providing product insights and analyses, experience reports, pricing strategies, pricing tools, and other ad-hoc needs.

  • Continues to develop knowledge of advanced actuarial methodologies.Evaluates alternative methods for use; develops methods to deal with new situations.

  • Directs associate management including: performance management, salary planning and administration, training and development, workflow planning, hiring and placement, and disciplinary actions.

  • Accountable for communications that are suitable to the audience. Sees that context reflects appropriate analysis.

  • Leverage relationships with business partners (OGC, Finance, Underwriting, IT) and external partners (MGUs, regulators, auditors) to achieve routine and more complex assignments in response to changing market conditions and net market opportunities.

  • Serves as a mentor for other relationship development and management.

  • Performs other duties as assigned.

Typical Skills and Experiences:

Education: Undergraduate degree in Actuarial Science, Mathematics, Statistics, or similar background requiring modeling, programming, or quantitative analysis.

License/Certification/Designation: Generally FSA required (exceptions may be made for ASAs with significant experience and significant responsibility).Keeps current with continuing education requirements and changing actuarial methodologies.

Experience: Minimum of 6 years with FSA or minimum of eight years with ASA. Previous managerial role strongly desired.

Knowledge: Knowledge of advanced mathematics and statistical concepts.Sound knowledge of actuarial methods/concepts, insurance terminology and products; familiarity with legal requirements for product.Must display command of procedures and methodologies employed in area of assignment.

Skills/Competencies: Demonstrated work product accuracy.Effective oral/written communication skills; Demonstrated ability to comprehend actuarial concepts and other advanced statistical concepts; Demonstrated ability to think logically and perform actuarial methods in a timely manner. Ability to effectively operate personal computer and related spreadsheets and data base software.Leadership ability when functioning in a management role. Ability to develop, motivate and influence others.

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.

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.

Evaluation Activity: Edited March 2018 – DRC