Nationwide Financial Tech Dir-Actuarial in Columbus, Ohio

Job ID: 51384

#corporatefinance

Many of the decisions we make as an insurance company are critically informed by models that continue to become more complex. Increasing complexity increases the risk associated with using these models including the risk of inappropriate use and the risk of error. This position will be critical in managing this operational risk through the design and implementation of governance and control activities.

Specifically, the position will

  • Help to develop and maintain our model risk management framework, including the definition and execution of model governance, the adaptation of Enterprise policies and further definition of our control framework

  • Working with the Enterprise Risk function and executing on Enterprise requirements through supporting specific periodic model risk management activities such as change management and model inventory activities

  • Supporting our businesses in the successful execution of specific model risk management activities such as support, review and challenge of model related controls

  • Overseeing and giving direction to external resources supporting our business with the implementation of model risk related deliverables including process and control related items

The position requires operational risk, audit, or governance related experience of at least 5 years. Knowledge of insurance and/or investment products, models and processes will critically support the activities of a successful candidate.

Summary: Oversees and performs various actuarial techniques and procedures which are of a mathematical and quantitative nature. This position manages research required to identify and solve actuarial problems in company operations. Provides leadership, direction and oversight to the production and analyses of complex actuarial statistical data. May manage a staff of up to 2 professional actuarial statistical support and finance personnel responsible for generating and analyzing complex data used in actuarial computation and documentation, needed for pricing, product development, business projections, reserve testing, regulatory filings, and other actuarial purposes. Ensures that actuarial systems and databases conform to and utilize actuarial setting methodologies that produce efficient, consistent, and integrated data & analysis. Will be a master/expert in performing, assisting and leading a variety of Actuarial tasks which may include: data compilation & analysis, illustrations, model development, financial reporting and analysis, pricing, risk and reinsurance analysis, reserving/valuation and other duties as assigned.

Reporting Relationships: Reports to Actuarial Executive or other financial/actuarial management.

Direct Reports: May Manage 1-2 other financial/actuarial personnel.

Core Duties and Responsibilities:

  • Accountable for and may direct the assistance and support of the compilation and categorization of data.

  • Accountable for and may direct the assistance and support of the illustration of products.

  • Accountable for and may direct the assistance and support of the building, maintenance, running, and analysis of Actuarial Models.

  • Accountable for and may direct the assistance and support of the financial reporting and analysis of results.

  • Accountable for and may direct the assistance and support of the pricing and filing of products.

  • Accountable for and may direct the assistance and support of the analysis and management of risks for lines of business.

  • Accountable for and may direct the assistance and support of the establishment of reserves and/or statutory, GAAP, & tax valuation for products.

  • Accountable for and may direct assistance and support of the analysis of reinsurance opportunities and recommending solutions.

  • Leads cross functional projects/teams. Coaches, mentors and motivates associates, establish priorities, set objectives, and fosters team work and diverse work environment.

  • May be responsible for associate management for one to two dedicated direct reports including: performance management, training and development, workflow planning, hiring and placement, and disciplinary actions.

  • 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: N/A

Experience: At least 10 years of actuarial or related experience and Actuarial Council approval.

Knowledge: Very high level of knowledge of actuarial business functions, statistical methods of analysis, company actuarial systems and databases, and their integration, and technical facility with leading computer tools and technology.

Skills/Competencies: Master/Expert or able to direct others in Microsoft Office products (including VBA within Access and Excel), programming languages and possibly Actuarial models. Basic level of organizational agility and conflict management. Proficient level of command skills, strategic agility, delegation, motivating others, business perspective, and accounting. Mastery level of perspective, problem solving, customer focus, dealing with ambiguity, drive for results, analysis, learning on the fly, and leveraging system capabilities.

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: Exempt (Not Eligible)

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.