Model Risk Validation Specialist

2 months ago

Columbus, United States Nationwide Private Client 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.

This role does not qualify for employer-sponsored work authorization. Nationwide does not participate in the Stem OPT Extension program.

Internal Compensation Grade: F4
Location: This position can be filled as Hybrid in Columbus, OH.
 

As a Model Risk Validation Specialist within Nationwide's Enterprise Model Risk Management (EMRM) team, you'll collaborate across all corporate, actuarial, and advanced analytics functions to enable a culture of thoughtful end-to-end model risk management. You'll have the opportunity to work within a diverse team and interact with Leadership and Risk Committees across the Enterprise to provide tailored risk-based solutions and empower our model community to be effective risk managers.

This position will have responsibility for supporting several key areas of EMRM capabilities, including:

Model Development Consultation Strategic MRM Program Enhancements Independent Model Validation and Governance MRM Framework Tools Third-party Interactions MRM Reporting Capabilities

The ideal candidate will have experience or advanced academic achievement in one or more of the following areas:

Financial Engineering/Modeling (i.e., statistical analysis, quantitative analysis, investment analysis, applied mathematics, economics) Risk Modeling & Analysis Actuarial Science (Life and Annuity preferred) Data Science (i.e., Statistical/Machine Learning)

Experience with the following technologies is preferred:

Python, R, MATLAB, and SQL Tableau/Power BI Progress towards actuarial or financial designations (ASA, CFA, FRM) Previous Model Risk Management Experience

Job Description Summary

Do you have the desire to play a critical role in driving data-based business outcomes? Nationwide has been using data to serve our members and drive business outcomes for almost 100 years. Our industry-leading workforce accepts an agile work environment and a collaborative culture to deliver outstanding solutions and results. Our Risk Analytics professionals play a key role in redefining quantitative data analysis into meaningful insights that drive business results. Specifically, they serve as the conduit joining quantitative risk analysts to business partners.

As a Specialist, you’ll work on various risk analytics projects to help solve diverse business problems. You’ll continue building a foundation of business understanding and relationships. It’s imperative that you have experience with quantitative analytics and that you are able to clearly articulate solutions.

Job Description

Key Responsibilities:

Understands and assesses key needs and is responsible for developing the appropriate quantitative modeling solutions. 

Collaborates with departments across the organization or business functions to support strategic goals, objectives, and initiatives. 

Builds risk analytic solutions for business problems through collaborating, consulting and driving expectations.

Collaborates with partners and teammates to ensure that consistent model assumptions, processes and outputs are well understood and that modeling standard methodologies are upheld. 

Crafts clear and concise summaries of findings and recommendations with support. Uses impactful storylines and data visualization geared to both technical and non-technical audiences.

Develops, tests, implements and administers sophisticated quantitative modeling processes and tools.

Evaluates and ranks quantitative solutions to business problems.

Communicates the key benefits and limitations of sophisticated modeling tools for business applications. 

Works across teams to ensure governance of modeling tools are applied consistently. 

May perform other responsibilities as assigned. 

Reporting Relationships: Reports to Risk/Actuarial leader. 

Typical Skills and Experiences: 

Education: Undergraduate studies in finance, accounting, economics, statistics, mathematics or related subject area required. Graduate-level studies in a related field with advanced degree highly desirable. 

License/Certification/Designation: Progress toward FCAS, FSA, CQF, CFA or similar preferred.

Experience: Typically, three or more years of related work experience in financial risk modeling or actuarial functions. 

Knowledge, Abilities and Skills: Basic knowledge of machine learning, stochastic processes, Monte Carlo simulations, sampling methods and other statistical techniques applicable to specialized risk modeling. Basic mathematical knowledge of specialized risk models such as those used in hedging, economic scenario generation, catastrophe, credit risk, etc. Basic knowledge of risk management operations such as asset-liability management, portfolio risk assessment, hedging, etc. Ability to communicate technical concepts to peers and direct supervisor. Proficient written and verbal communications skills. Proficiency with Excel and Powerpoint. 

Other criteria, including leadership skills, competencies and experiences may take precedence. 

Staffing exceptions to the above must be approved by the CFO, or the HR leader.

Values: Regularly and consistently demonstrates Nationwide Values.

Job Conditions:


Overtime Eligibility: Not Eligible (Exempt)

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.

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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.

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