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!
Key Responsibilities:
1. Perform Illustration Actuary self- and lapse-support testing (IAT) in actuarial models for inforce life insurance products that fall under the Life Insurance Illustrations Model Regulation
Perform sensitivity analysis to review impact on IAT of changes to assumptions, charges, hedge costs, etc.
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Document the annual testing including process and model documentation updates, impact and rationale behind assumption changes, and illustration changes
Communicate changes with the business and update/review state filings
Find and implement opportunities to create efficiencies for next year
Maintain compliance with applicable regulation and guidance
2. Assist in life reinsurance analytics and inforce management
Provide modeling and recommendations for managing inforce life reinsurance, including rate increase analysis, recapture analysis, and other reinsurance risk analysis
Analyze risk and profitability of reinsured blocks of business
Support ad hoc reinsurance research and analysis, such as for reinsurance audits and reinsurer questions
Maintain and enhance reinsurance data and reporting capabilities
Build and implement automated reinsurance reporting, monitoring, and administrative solutions using SQL, Tableau, and VB.Net
Skills/Competencies:
Generally, has attained ASA and is working towards FSA
Undergraduate degree in actuarial science, mathematics, statistics or similar background requiring modeling, programming, or quantitative analysis
At least 3-5 years relevant actuarial experience
At least 3 years modeling experience
Proficient in at least one of ALFA, Axis, or PolySystems
Proficient in SQL
Proficiency in Tableau, VB.Net a plus
Strong communication skills
Strong organization skills
This position can be staffed at G3 or F3 level
#LI-SM1
Job Description Summary
Our Nationwide Financial Actuarial team members have opportunities to use state-of-the-art tools and 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 Actuarial Consultant, you’ll need to be adept at actuarial functions and know Nationwide Financial (NF) products to perform sophisticated, quantitative actuarial analyses. In addition, we’ll count on you to provide expertise, including consultation and recommendations, on actuarial models and issues.
Key Responsibilities:
1. Perform Illustration Actuary self- and lapse-support testing (IAT) in actuarial models for inforce life insurance products that fall under the Life Insurance Illustrations Model Regulation
Perform sensitivity analysis to review impact on IAT of changes to assumptions, charges, hedge costs, etc.
Document the annual testing including process and model documentation updates, impact and rationale behind assumption changes, and illustration changes
Communicate changes with the business and update/review state filings
Find and implement opportunities to create efficiencies for next year
Maintain compliance with applicable regulation and guidance
2. Assist in life reinsurance analytics and inforce management
Provide modeling and recommendations for managing inforce life reinsurance, including rate increase analysis, recapture analysis, and other reinsurance risk analysis
Analyze risk and profitability of reinsured blocks of business
Support ad hoc reinsurance research and analysis, such as for reinsurance audits and reinsurer questions
Maintain and enhance reinsurance data and reporting capabilities
Build and implement automated reinsurance reporting, monitoring, and administrative solutions using SQL, Tableau, and VB.Net
Skills/Competencies:
Generally, has attained ASA and is working towards FSA
Undergraduate degree in actuarial science, mathematics, statistics or similar background requiring modeling, programming, or quantitative analysis
At least 3-5 years relevant actuarial experience
At least 3 years modeling experience
Proficient in at least one of ALFA, Axis, or PolySystems
Proficient in SQL
Proficiency in Tableau, VB.Net a plus
Strong communication skills
Strong organization skills
Job Description
Key Responsibilities:
Compiles, categorizes and analyzes data.
Performs construction of testing tools and analysis of product calculations.
Constructs, maintains and conducts Actuarial, Projection & Valuation Models.
Performs financial reporting and analysis.
Leads pricing and implementation of products.
Analyzes risks for lines of business.
Establishes reserves and other valuation items under multiple accounting regimes (statutory, GAAP, and tax) for products.
Performs reinsurance analysis and pricing.
Supports and may develop effective communication strategies and recommendations to leadership.
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: Generally, has attained ASA and is actively enrolled in the Actuarial Development Program; working towards FSA. PLEASE REFER TO THE NATIONWIDE LIFE INSURANCE COMPANY ACTUARIAL DEVELOPMENT PROGRAM FOR ADDITIONAL INFORMATION.
Experience: Typically, three to five years of actuarial experience.
Knowledge, Abilities and Skills: Proven knowledge of actuarial business functions, statistical methods of analysis, actuarial models, actuarial software and databases. Proficient in Microsoft Office products (including VBA within Access and Excel), analytical software (such as tableau) and programming languages. Should have basic competencies including: command skills, strategic agility, delegation, motivating others, business perspective, and accounting. Should have highly-developed competencies in: business understanding, problem solving, customer focus, dealing with ambiguity, drive for results, and learning ability.
Other criteria, including leadership skills, proficiencies 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.
#actuarial