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Actuary, NF - Asset and Liability Management (ALM) - Remote

Nationwide

Nationwide

Accounting & Finance
Columbus, OH, USA
Posted on Monday, July 8, 2024
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.

ALM’s mission is to maximize earnings and the value delivered from NF’s investments, while helping the company avoid excessive financial markets risks. Through this mission, we are able to directly affect business growth, member value, and the financial strength of the enterprise.

This position will support fulfillment of the key responsibilities of ALM:

  • Investment strategy development, testing, and analysis;
  • Portfolio risk monitoring and management;
  • Investment needs, cash, and liquidity management; and
  • Surplus income enhancement.

As part of this role, ALM team members serve a dual role as business advisors and risk managers, working closely with Actuarial, Office of Investments, NF Business Development, ERM, Treasury, NF Finance and Controllership, amongst others.

Key Responsibilities:

  • Supporting development, testing, and analysis of new investment strategies (and related modeling assumptions) for Nationwide Financial’s $100B+ general account investment portfolios. This includes:
  • ALM model and assumption development in ALFA and/or AXIS
  • Developing investment strategies for new products and optimizing existing ones
  • Developing risk analytics and reports using visualization and other tools
  • Coordinating pool rebalancing and asset sales
  • Working with Investments, Actuarial, ERM and NF Business Development teams to allow for consideration of business needs, capital usage and risk impacts, and asset market opportunities as well as constraints.
  • Performing and analyzing liquidity stress tests and reporting on findings
  • Monitoring and analyzing NF’s operational and investment cash flows
  • Supporting and growing Nationwide’s Spread-Lending and Funding Agreement programs
  • Evaluating fixed income hedging solutions to minimize risk in our investment strategy execution and drive optimal investment performance
  • Presenting findings to business partners, Investments, PRC, and others
  • Providing ALM project leadership, overseeing contributions from various stakeholders across Nationwide

Preferred Skills:

  • SQL, Data Bricks, Power BI, Tableau
  • Proficiency in actuarial software (e.g., AXIS, ALFA).
  • Strong analytical skills and attention to detail.
  • Excellent communication and teamwork abilities.

This role can be staffed remote, but prefer the Columbus, OH location. This position will be filled at the internal H4 pay band.

#LI-SM1

#LI-remote

Job Description Summary

Our Nationwide Financial 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 sophisticated 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 directly or indirectly lead others.

Job Description

Key Responsibilities:

  • Acts as a specialist for compilation, categorization and analysis of data.

  • Constructs sophisticated testing tools and product calculations.

  • Builds, maintains and computes Actuarial, Projection & Valuation Models.

  • Conducts financial reporting and analysis.

  • Prices and supports implementation of products.

  • Conducts risk analysis for lines of business/products.

  • Establishes reserves and other valuation items under multiple accounting regimes (statutory, GAAP, and tax) for products.

  • Leads and provides experienced knowledge for the analysis of reinsurance opportunities.

  • Builds cohesive presentations, communication strategies and recommendations of actuarial findings that are suitable for technical and non-technical audiences at the OCFO leadership level.

May perform other responsibilities as assigned.

Reporting Relationships: Reports to Actuarial leader.

Typical Skills and Experiences:

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

License/Certification/Designation: FSA required. PLEASE REFER TO THE NATIONWIDE LIFE INSURANCE COMPANY ACTUARIAL DEVELOPMENT PROGRAM FOR ADDITIONAL INFORMATION.

Experience: Typically, five to seven years of actuarial experience.

Knowledge, Abilities and Skills: Experienced knowledge of actuarial business functions, statistical methods of analysis, actuarial models, actuarial software and databases. Mastery of Microsoft Office products (including VBA within Access and Excel), analytical software (such as tableau) 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 Human Resources 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 07/23/2024. 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.#actuarialSmoke-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.pdfNationwide 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, NF : $121,000.00-$233,000.00The expected starting salary range for Actuary, NF : $131,000.00 - $197,000.00