Sr. Actuary - Pension Risk Transfer Remote

As a team member in the Finance 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, Internal Audit, 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.

Job Summary: As a strategic leader within our team, the Pension Risk Transfer Pricing - Senior Actuary will play a pivotal role in shaping objectives, achieving profitability targets, and refining the pricing process. This role involves conducting competitive market analysis, driving efficiencies, and fostering a positive team culture. The ideal candidate will have extensive experience as a pension and/or PRT actuary, with a strong ability to influence internal stakeholders and contribute to the overall success of the organization.

Key Responsibilities:

• Review Pension Risk Transfer (PRT) bids to ensure premiums accurately reflect reserves, capital, expected benefit payments, tax, investment strategy, earned rates, etc., using Axis and Excel-based tools.

• Propose demographic assumptions related to pension benefits included in a given PRT deal, including mortality, mortality improvement, withdrawal rates, retirement rates, and disability incidence. This includes experience study calculations and analysis for deals with MED (mortality experience data).

• Contribute to pricing/product strategy and prioritizing initiatives, including exploration of improved investment strategies, new deal structures, and utilizing reinsurance.

• Collaborate with the Office of Investments and ALM teams to optimize the investment strategy for new PRT business.

• Partner with business teams to develop responses to RFPs.

• Continuously improve the pricing model within AXIS.

• Manage workflow assignments for the team and develop junior associates.

• Present results and concepts to business partners and other internal stakeholders.

Preferred Qualifications and Skills:

• Experience as a pension and/or PRT actuary.

• Fellow of the Society of Actuaries (FSA) highly preferred or Associate of the Society of Actuaries (ASA) and Enrolled Actuary (EA).

• Typically, eight or more years of actuarial experience.

• Proficiency in Excel.

• Excellent problem-solving skills.

• Strong communication and presentation skills to influence internal stakeholders.

• Ability to work collaboratively in a team environment.

• Strong organizational and time management skills.

Additional Insights:

• Team & Company Culture: The role is within Nationwide Financial Actuarial team, which encourages innovation and mastery of actuarial methodologies. The team values collaboration and continuous improvement.

• Work Arrangements:  Please Note: This position is preferred to sit in Columbus, OH to work a two day a week hybrid schedule. This role could also be staffed fully remote.

• This position will be staffed at the H5 internal pay band.

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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 a Senior Actuary, you’ll be an expert, providing leadership, direction and oversight for the creation and performance of sophisticated actuarial techniques and procedures and risk analysis. You’ll handle 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 directly or indirectly lead others.

Job Description

Key Responsibilities:

• Provides strategic direction and knowledge for the compilation, categorization and analysis of data and financial reporting and analysis.

• Constructs sophisticated testing tools and analyzes product calculations.

• Leads, provides expertise and builds strategies for pricing and implementation of products.

• Constructs, maintains and completes Actuarial, Projection & Valuation Models.

• Analyzes risks and reinsurance for lines of business.

• Establishes reserves and other valuation items under multiple accounting regimes (statutory, GAAP and tax) for products.

• Builds cohesive presentations, communication strategies and recommendations of actuarial findings that are suitable for technical and non-technical audiences at the OCFO leadership level.

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: FSA required. PLEASE REFER TO THE NATIONWIDE LIFE INSURANCE COMPANY ACTUARIAL DEVELOPMENT PROGRAM FOR ADDITIONAL INFORMATION.

Experience: Typically, at least eight years of actuarial experience.

Knowledge, Abilities and Skills: Experienced knowledge of actuarial business functions, statistical methods of analysis, actuarial models, actuarial software and databases; knowledge of company operations, products, systems and actuarial methodologies. Knowledge of industry and regulatory practices is vital. Proficiency in Microsoft Office products (including VBA within Access and Excel), analytical software (such as tableau) and programming languages. Proficient level of organizational agility, influencing skills, strategic agility, inspiring others, business perspective and accounting. Mastery level of perspective, problem solving, customer focus, dealing with ambiguity, drive for results, analysis, learning.

Other criteria, including leadership skills, capabilities 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.

We currently anticipate accepting applications until 03/27/2025. 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.

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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 Sr Actuary, NF : $134,000.00-$259,000.00

The expected starting salary range for Sr Actuary, NF : $145,000.00 - $219,000.00