Nationwide Sr Actuary, NF - Nationwide Financial AXIS Model Construction in Columbus, Ohio
If you’re passionate about becoming a Nationwide associate and believe you have the potential to be something great, let’s talk.
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JOB SUMMARY: May be involved in the following; the determination of pricing structure and premiums, the origination and evaluation of new product ideas, the analysis and interpretation of product line financials, testing reserve adequacy, cash flow analysis, investment strategy, risk and capital management analysis, and/or other NF actuarial science and research for a section or unit of a large subset of a major product group, business, or market segment. Regularly consults senior management on actuarial, mathematical, or risk management techniques in determining the appropriate courses of action. May oversee NF actuarial projects. Will be a a master/expert performing and assisting in a variety of Actuarial tasks which may include: data compilation and analysis, illustrations, model development, financial reporting and analysis, pricing, risk and reinsurance analysis, reserving/valuation and other duties as assigned.
Reports to Actuarial Leader, or other actuarial management.
Compiles, categorizes & analyzes data.
Leads in Illustrating/reproposals for products and testing illustration software.
Builds, maintains, runs, and analyzes actuarial Models, using expert knowledge of actuarial projection and/or valuation models such that the models can be optimized to support multiple applications.
Performs financial reporting & analysis.
Performs pricing of products.
Performs the analysis of risks for lines of business.
Establishes and understands reserves using in-depth knowledge and application of statutory, GAAP, and tax valuation standards for products.
Analyzes reinsurance opportunities and recommends solutions.
Performs other duties as assigned.
Education: Undergraduate degree in Actuarial Science, Mathematics, Statistics, or similar background requiring modeling, programming, or quantitative analysis.
Designations/Certifications: Achievement of Fellowship in the Society of Actuaries. Membership in the Society of Actuaries and American Academy of Actuaries. PLEASE REFER TO THE NATIONWIDE LIFE INSURANCE COMPANY ACTUARIAL DEVELOPMENT PROGRAM FOR ADDITIONAL INFORMATION.
Experience: At least eight years of Actuarial experience and Actuarial Council approval.
Knowledge: In-depth knowledge of actuarial business functions, statistical methods of analysis, company actuarial systems and databases, and their integration; technical facility with leading computer tools and technology; In-depth knowledge of actuarial viewpoint in a wide variety of actuarial subjects, and in Company, Industry, and Regulatory practices. In-depth knowledge of company operations, products, systems and actuarial methodologies.
Skills/Competencies: Master/Expert in Microsoft Office products (including VBA within Access and Excel), programming languages and Actuarial models. Basic level of organizational agility, conflict management, command skills, strategic agility, and motivating others. Proficient level of delegation and accounting. Mastery level of perspective, problem solving, dealing with ambiguity, customer focus, drive for results, learning on the fly, analysis, business perspective, and leveraging system capabilities.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Staffing Exceptions to the above minimum job requirements must be approved by: Chief Actuary and VP, Human Resources.
Overtime Eligibility: Not Eligible (exempt).
Working Conditions: Normal Office Environment
Credit Check: N/A
Safety Sensitive: N/A
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.
Additional Job Description
An exciting new opportunity is now open on the Nationwide Financial Modeling Team. This highly visible team is currently working on the construction and validation of the actuarial models that form the basis for decision making. Models cover all major financial processes that rely on a projection of financial results including valuation, forecast, pricing, ALM, liquidity and capital management. Our work to construct AXIS models for Variable Annuities is under way, and future products in the pipeline include Fixed Indexed Annuities, Individual Fixed Annuities, and potentially Life Insurance and Retirement Plans lines of business. Our ideal candidate has experience modeling complex products.
This role may be filled atthe Sr Actuary, Actuary, Sr Actuarial Consultant, Actuarial Consultant, Actuarial Specialist, or Actuarial Sr Analystlevel based on skillset and experience.
Job responsibilities include:
Construct AXIS models for annuity products, potentially followed by other product lines
Reconcile AXIS with production ALFA and PolySystems models including product cash flows and accounting calculations
Integrate models with modernized data and analytic infrastructure working with Data team and Analytics & Reporting Teams of Actuarial Modernization
Collaborate with members of the Model Team and model stakeholders, including actuarial leadership and application owners, defining and delivering on model expectations, analytic capabilities, and approaches to accepting and using models
Documentation of model development initiatives
Strong actuarial modeling skills
Ability to identify and execute on approaches to analyze model output to assess if the model is operating accurately
Experience with ALFA and/or AXIS
Strong communication skills
Familiarity with life and/or annuity products and accounting is desirable
Job ID: 51651