VP, Nationwide Financial Risk Management

4 weeks ago


Columbus, United States Ohiox Full time

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. Please Note: This role is open to working remotely in the United States. 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 the VP of Nationwide Financial (NF) Risk Management and Governance, you’ll set the investment strategies for the NF general account and the cash management processes. You’ll also oversee assumption setting for all actuarial assumptions across the life and annuity businesses. You’ll synthesize theory and practice to oversee the pricing of new business, risk management, modeling, and capital management. We’ll count on you to coordinate with the Enterprise Risk Management Office (ERM) to provide consistent and comprehensive risk management expertise to key internal and external stakeholders. Key Responsibilities: Leads key NF risk governance processes through oversight of the Product Risk Committee, Model Risk Committee and Assumption governance. Participates in the NF Risk Committee and other Enterprise risk committees as needed. Leads the evaluation of aggregate Asset Liability Management risks including interest rate, credit, alternatives, and equity risks. Oversees the quantification of investment policy analysis for all NF products accountable to the NF Risk Committee and the Enterprise Finance Risk Committee (EFRC). Leads the NF Liquidity Risk management function. Partners with the Investments and Treasury organizations to measure all of NF’s liquidity risk. Oversees the Federal Home Loan Bank (FHLB) spread lending program and optimizes asset selections. Evaluates the growth, profitability, and risk implications for NF products, providing recommendations and direction relative to management in key markets. Recommends appropriate boards capital movements, including dividends and infusions, for the life company’s fleet of legal entities. Develops and maintains the theoretical framework used to manage risk within NF, including the derivation of risk limits, pricing guidelines (including setting hurdle rates), and integration of key risk metrics with ERM. Oversees the assumption governance process used for all NF modeling applications. Oversees the reporting of actual and forecasted NF statutory and risk capital results and drives the overall quantification of stress testing, capital adequacy, capital forecasting, and capital management activities in NF. Interfaces with ERM and rating agency staff to integrate and explain NF results within an Enterprise context. Networks with outside organizations to implement and evolve state of the art risk management practices. Oversees associate management including performance management, salary planning and administration, training and development, workflow and organization planning, day-to-day management, hiring and placement, and corrective actions for direct and possibly indirect reports. May perform other responsibilities as assigned. Reporting Relationships: Reports to VP, NFS Chief Actuary. Leads a team of five direct reports and 13 or more indirect reports. Typical Skills and Experiences: Education: Undergraduate degree in Mathematics, Finance, Actuarial Science, or field with similar mathematical training preferred. License/Certification/Designation: Fellow of the Society of Actuaries (FSA) required. Member of the American Academy of Actuaries (MAAA). Experience: Typically, ten or more years of experience in actuarial related work. Knowledge, Abilities and Skills: Extensive knowledge of risk management practices including asset/liability management, mortality, equity and fixed assets, expenses and counterparty risk, modeling techniques, actuarial principles, and mathematics. Broad knowledge of the financial services industry, including an understanding of life insurance accounting, finance theory, and stochastic pricing. Excellent communication skills with ability to work effectively with outside audiences, senior management, and internal partners. Other criteria, including leadership skills, competencies and experiences may take precedence. Values: Regularly and consistently demonstrates Nationwide Values. Job Conditions: Overtime Eligibility: Not Eligible (Exempt) Working Conditions: Normal office environment. Some travel may be required. 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 09/09/2024. 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. #J-18808-Ljbffr



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