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 position open to work in the United States for suitable applicants.
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Job Description Summary
At Nationwide, our Actuarial team members have opportunities to use state-of-the-art tools, are encouraged to innovate, and strategic growth is key to our success. If this sounds like a place you could thrive, then we want to know more about you!
As an AVP, you’ll be responsible for achieving growth and earnings outcomes associated with the inorganic growth strategy of Nationwide Financial. You’ll lead a team and drive activities that include but aren’t limited to mergers and acquisitions, reinsurance opportunities, and reserve & capital optimization efforts. Additionally, you will collaborate closely with Nationwide’s executive leadership team, finance, business leaders, and external partners to enhance corporate value. Your leadership will be crucial in making informed decisions, navigating ambiguity, creatively problem solving, and aligning strategic goals across multiple stakeholder groups.
Job Description
Key Responsibilities:
Own actuarial efforts around mergers & acquisitions, reinsurance strategies, risk management efforts, and generally manage reserve and capital optimization.
Lead the actuarial function for corporate development projects, including due diligence, valuation, and post-merger integration. Direct transactions in the areas of pricing, deal structuring, reserve calculations and adequacy, determination of appropriate assumptions, appropriateness of existing models, and actuarial appraisals.
Conduct thorough risk assessments and provide expert actuarial input to guide decisions.
Lead the development of financial models and forecasts to evaluate corporate development projects, ensuring alignment with the company’s strategic goals.
Partner with finance, legal, and corporate development teams to determine capital requirements, profitability, and overall business risk implications of initiatives.
Present actuarial findings and recommendations to the executive leadership team, board members, and external stakeholders.
Encourage proactive problem-solving and collaboration across diverse stakeholder groups, ensuring alignment with strategic goals.
Stay updated on industry trends, regulatory changes, and emerging risks in the insurance/financial services sector that may affect corporate development.
Manage relationships with external consultants, advisors, and actuarial firms involved in merger & acquisition activities and reinsurance, among other topical approaches to managing reserves & capital.
Drive and manage change initiatives within the actuarial team, ensuring seamless transitions, effective communication, and robust support for team members adapting to new processes and market conditions.
Mentor and lead a team of actuaries, fostering a high-performance culture. Accountable for the talent management process including oversight of recruiting, performance management, diversity and inclusion, development and training.
May perform other responsibilities as assigned.
Reporting Relationships: Reports to VP, Financial Services Chief Actuary. Leads a team of approximately 4 actuarial professionals.
Typical Skills and Experiences:
Education: Undergraduate degree in Actuarial Science or Mathematics.
License/Certification/Designation: Fellowship credentialed actuary (Fellow of the Society of Actuaries (FSA) or equivalent designation) required.
Experience: Typically, 10 or more years of actuarial experience, with a focus on corporate development and M&A in financial services industry, insurance sector or investment banking; reinsurance experience preferred. Experience managing and developing actuarial teams is preferred.
Knowledge, Abilities and Skills:
Proven track record in leading complex actuarial analyses for M&A or similar corporate development initiatives. Strong knowledge of financial modeling, valuation techniques, and risk management. Extensive knowledge and experience in annuity, life insurance, and health products. Exceptional communication and presentation skills, with the ability to influence senior executives and stakeholders. Proven ability to think strategically and bring creativity to complex problem solving. Ability to work effectively in a fast-paced, dynamic environment. Expertise in insurance industry regulations, capital modeling, and financial reporting standards (e.g., IFRS, GAAP). Strategic thinker with strong analytical and problem-solving abilities.
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 Human Resource Business Partner.
Values: Regularly and consistently demonstrates Nationwide Values.
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.
Credit/Background Check: Due to fiduciary accountability within this job, a valid credit and/or background check will be required as part of the selection process.
We currently anticipate accepting applications until 12/13/2024. 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.
Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.
For NY residents please review the following state law information: Notice of Employee Rights, Protections, and Obligations LS740 (ny.gov) https://dol.ny.gov/system/files/documents/2022/02/ls740_1.pdf
Nationwide pays on a geographic-specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range.
The national salary range for AVP, Financial Services Actuary - Corporate Development : $140,000.00-$277,000.00
The expected starting salary range for AVP, Financial Services Actuary - Corporate Development : $147,000.00 - $247,000.00
