Nationwide Mutual Insurance

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.

Profile Summary

As an Actuary, you will play a key role in evaluating our asbestos, environmental, and other mass tort exposures, conduct special studies across Commercial product lines, and be part of a highly collaborative cross-functional team.

Key Responsibilities

• Reserve Assessment: Conduct detailed analyses to recommend revisions to Nationwide Indemnity Reserves and be a key contributor to the Nationwide Indemnity Loss Reserve Working Group.
• Methodology Evaluation: Use sound actuarial techniques and seasoned judgment to organize and direct reserve review processes. Evaluate alternative actuarial methods and develop innovative approaches as needed. Maintains exposure models.
• Trends: Maintain a constant dialogue with the Claims organization to accurately reflect changes in operations and industry trends.
• Clear Communication: Concisely present analysis results and insights to both actuarial and non-actuarial audiences.
• Documentation: Ensure thorough documentation of assumptions, methods, and sources, adhering to CAS standards.
• Professional Representation: Interact professionally with internal and external stakeholders, exercising outstanding judgment.

Typical Skills and Experience

• Education: Bachelor’s degree in actuarial science, mathematics, statistics, business, or related field with a strong quantitative orientation.
• Certification: Associate in the Casualty Actuarial Society required; Fellowship preferred.
• Experience: Typically ten years in an actuarial function with prior managerial experience.
• Knowledge and Abilities:
• Advanced knowledge of actuarial techniques and insurance operations.
• Familiarity with relevant state and federal laws and regulations.
• Outstanding people skills.
• Effective group presentation skills.
• Proficiency in data manipulation techniques (e.g., R, Python, SQL).

Qualifications:

• Strong analytical skills
• Business and insurance knowledge
• Ability to communicate complex information to internal and external partners

Values

Demonstrate Nationwide Values consistently.

This role will be staffed at the H4 internal pay band. This role can also be fully remote.

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Job Description Summary

Our Property and Casualty (P&C) Actuarial team members have opportunities to use state-of-the-art tools, are encouraged to innovate and learn to master actuarial methodologies. If this sounds like a place you could thrive, then we want to know more about you!

As an Actuary, you’ll show a mastery of business operations, systems, and actuarial methodologies. You will provide leadership, direction and oversight for the performance of complex actuarial techniques and procedures and risk analysis. In addition, you’ll develop a strategic vision for the team to ensure efficient, consistent and integrated data and analysis. We’ll count on you to provide business recommendations that are crucial to the success of Nationwide and the protection we provide our customers. You’ll need to work independently and may lead others (directly and/or indirectly).

Job Description

Key Responsibilities:

• Acts as strategic technical expert of actuarial methodologies allowing the ability to source and manipulate data within standard requirements.
• Conducts complex analyses, adhering to actuarial standards, by selecting appropriate data sources, making assumptions, recognizing consideration, and developing recommendations. Accountable for resolving unreasonable results/non-optimal solutions using experience and professional judgment. Analysis conducted will be used to influence broad strategic vison.
• Accurately documents assumptions, methods, sources and considerations in an organized fashion.
• Prepares and presents actuarial findings and documents suitable for technical and non-technical audiences at the OCFO leadership level. May professionally represent company's position with regulators, auditors and external vendors. May negotiate within defined parameters.
• Develops cross functional work plans and ensures accurate work product is delivered. Identifies any additional business partners needed for work plan success.
• Develops and implements new techniques used in peer reviews. Participates in peer reviews to provide expert guidance, collaboration, ensure quality work and drive innovation.
• Builds strategic business relationships at all levels of the organization to drive solution delivery.
• Identifies gaps in training for new associates and develops solutions.
• Uses data mining techniques to identify new relationships in data and make recommendations based on findings. Has foundational knowledge of modeling software and the ability to use/teach others. Expert use of predictive modeling. Serves as lead on recommending new software packages that impact long term success of PC actuarial.
• Operates as corporate leader to advance and influence the strategic direction within Nationwide.
• Consults and provides expert advice on new or enhanced product development opportunities, including discussions on data needed for analysis, coding implication, and opinions on the viability and profitability of the proposals.

May perform other responsibilities as assigned.

Reporting Relationships: Reports to Actuarial leader

Typical Skills and Experiences:

Education: Undergraduate degree in actuarial science, mathematics, statistics, data science or similar background requiring modeling, programming or quantitative analysis preferred.

License/Certification/Designation: Actuarial designation required, generally as an FCAS. PLEASE REFER TO THE NATIONWIDE PC INSURANCE COMPANY ACTUARIAL STUDENT PROGRAM FOR ADDITIONAL INFORMATION

Experience: Generally, seven or more years of actuarial experience.

Knowledge, Abilities and Skills: Expert knowledge of actuarial business functions, statistical methods of analysis, actuarial models, actuarial software and databases. Mastery of Microsoft Office products, analytical software and programming languages. 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.

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.

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.

We currently anticipate accepting applications until 08/05/2024. 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 Actuary PC : $121,000.00-$233,000.00

The expected starting salary range for Actuary PC : $131,000.00 - $197,000.00

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