Senior Actuary, P&C Reserving – Commercial Lines

2 months ago

Remote, 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.

Profile Summary

We are currently staffing two new roles aligned by product line groupings (one for Property, Workers’ Comp, and Auto and one for General Liability and Umbrella. As a Senior Actuary, you will play a key role in evaluating reserve adequacy for one of these two portfolios and work closely with business leaders, providing their teams with data-driven insights and expertise.

Key Responsibilities

Leadership and Oversight: Evaluate and maintain overall reserve adequacy for the specified lines of business. As a people leader, train and develop staff aligned with a World-Class Underwriting Company mindset. Reserve Assessment: Conducting detailed analyses to determine recommended revisions. Methodology Evaluation: Use sound actuarial techniques and seasoned judgment to organize and direct reserve review processes. Evaluate alternative actuarial methods and establish thought leadership in developing innovative approaches as needed. Trends: Maintain a constant dialogue with the Claims organization to accurately reflect changes in operations and industry trends. Clear Communication: Concisely present analysis results and insights to both actuarial and non-actuarial audiences. Documentation: Ensure thorough documentation of assumptions, methods, and sources, adhering to CAS standards. Professional Representation: Interact professionally in internal and external stakeholders, exercising outstanding judgment.

Typical Skills and Experience

Education: Bachelor’s degree in actuarial science, mathematics, statistics, business, or related field with a strong quantitative orientation. Certification: Associate in the Casualty Actuarial Society required; Fellowship preferred. Experience: Typically ten years in an actuarial function with prior leadership experience. Knowledge and Abilities: Advanced knowledge of actuarial techniques and insurance operations.Familiarity with relevant state and federal laws and regulations.Outstanding interpersonal skills.Effective group presentation skills.Proficiency in data manipulation techniques (e.g., R, Python, SQL).

Qualifications:

Strong analytical skills Business and insurance knowledge Ability to communicate complex information to internal and external partners

Values:

Demonstrate Nationwide Values consistently.

This role will be staffed at the H5 internal pay band. This role can also be fully remote.

#LI-SM1

#LI-REMOTE

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 a Senior Actuary, you’ll be an expert and will provide leadership direction and oversight for the creation and performance of complex actuarial techniques and procedures and risk analysis. You’ll manage research and direct others to ensure efficient, consistent and integrated data and analysis. We’ll count on you to provide a strategic vision for the team and deliver business recommendations that are crucial to the success of Nationwide and the protection we provide our customers. You’ll work independently and may lead others (directly and/or indirectly).

Job Description

Key Responsibilities:

Acts as technical expert of actuarial methodologies allowing the ability to source and manipulate data within standard requirements. Identifies new ways to utilize data driving overall strategic vision.

Conducts complex analyses adhering to actuarial standards by selecting appropriate data sources, making assumptions, recognizing considerations, 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 vison of Nationwide.

Accurately documents assumptions, methods, sources and considerations in an organized fashion.

Creates cohesive presentations and recommendations of actuarial findings that are suitable for technical and non-technical audiences at the OCFO leadership level. May professionally represent company's position with regulators, auditors and external vendors. May negotiate within defined parameters.

Responsible for strategic development and oversite of multiple work plans ensuring accurate and timely delivery of product.

Strategic leader of peer review process. Responsible for driving collaboration cross functionally, identifies gaps in process, recommends and implements changes as needed to ensure quality work.

Builds strategic business relationships at all levels of the organization to drive solution delivery

Responsible for identifying skill gaps and developing training materials to develop associates skills for future business needs.

Advises on strategic data mining techniques used to identify new relationships in data. Makes recommendations on data and software packages that help drive strategic vision of P&C actuarial and business success. Has expert knowledge of modeling, predictive modeling, and software applications.

Consults and provides expert advice on new or enhanced product development opportunities, including discussions on data needed for analysis, coding implications and opinions of the viability and profitability of proposals.

May perform other responsibilities as assigned.

Reporting Relationships : Reports to Actuarial leader.

Typical Skills and Experiences:

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

License/Certification/Designation : Actuarial designation required, generally as an FCAS. PLEASE REFER TO THE NATIONWIDE PROPERTY AND CASUALTY ACTUARIAL DEVELOPMENT PROGRAM FOR ADDITIONAL INFORMATION.

Experience: Generally, eight 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; expert knowledge of company operations, products, systems and actuarial methodologies; expert knowledge of company, industry, and regulatory practices. Mastery of Microsoft Office products, analytical software, and programming languages. Proficient 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 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 HR 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 08/11/2024. 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.

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