As a team member in the Finance 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, Internal Audit, 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.
Job Profile Summary
- Ensuring adequate resources to support claims is one of the ways we fulfill our promise to our customers. Working closely with business leaders throughout Nationwide’s Property & Casualty (P&C) organization, we provide the data and expertise they need for appropriate reserving. If you are a leader with analytical skills, business and insurance knowledge and the ability to communicate complex information to a variety partners – internal and external – we want to hear from you!
- As an Actuary, you’ll lead reserving studies for asbestos, environmental, and other mass tort exposures for both legacy on on-going portfolios. This includes monitoring and maintaining the overall adequacy of these liabilities as well as presenting the results of the analysis in a clear and concise manner to both actuarial and non-actuarial audiences. Special projects includes upgrading stochastic analyses within our mass tort reserve and ceded portfolios.
- In addition, you’ll be helping collaborating with Reserving Operations, Pricing, and various Business Insights team to help manage cross-lines data specific to Commercial Lines & NWAG.
- We’ll count on you to use sound actuarial techniques and seasoned judgment, organize and direct reserve review process and risk management efforts with regards to Indemnity and related exposures.
Key Responsibilities
- Maintains a constant dialogue with Claims leadership to assure that changes in procedures and operations as well as industry trends and new developments are accurately reflected in the selection of estimated loss and loss adjustment expense amounts.
- Supervises and assesses corporate liabilities on a regular basis. This includes detailed book of business analyses that are organized throughout the year and result in annual revisions. Leads the management of related in-house exposure models.
- 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 vision. Analyzes and effectively communicates trends and changes in financial results to senior management.
- Manages retrieval and manipulation of data to ensure suitability with actuarial methodologies employed.
- Ensures documentation of assumptions, methods, sources, and considerations; adheres to CAS standards of practice.
- Assists in the valuation of mergers/acquisitions by providing estimates of the adequacy of the liabilities carried by potential business partners.
- Represents company professionally in all internal/external interactions; exercises outstanding judgment; keeps Associate Vice President / Senior Officer advised as needed. Negotiates as assigned within defined parameters.
- Develops and implements new techniques used in peer reviews. Participates in peer reviews to provide expert guidance, collaboration, ensure quality work and drive innovation.
- Operates as corporate leader to advance and influence the strategic direction within Nationwide.
Typical Skills and Experiences
- Education: Undergraduate degree in actuarial science, mathematics, statistics, data science or similar background requiring modeling, programming, or quantitative analysis.
- License/Certification/Designation: Fellowship in the Casualty Actuarial Society preferred, Associate in the Casualty Actuarial Society required.
- 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. Intermediate 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.
- Values: Regularly and consistently demonstrates Nationwide Values.
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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).
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