Consultant, Risk Management

If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! 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.

Key Responsibilities: 

In partnership with leader, act as the liaison and partner to the following teams/leaders: 

• Offshore quality leader to ensure alignment in process reviews and ratings. 
• Operational Leaders across SBS to ensure strategy and direction of the Governance team is aligned to 
• Op Leaders expectations and risk concerns 
• Internal Audit, State Exam Mgmt., P&C Compliance and P&C Ops RM teams to ensure teams, strategies are aligned but not duplicative 

This includes the management and coordination of data, responses and mitigation plans from SBS Operational leaders to these areas as a result of an audit, DOI Exam or Market Conduct Issue Review. 

• Regulatory agency authorities 
• Creation, continued management and execution of a risk assessment strategy and approach for SBS to manage and mitigate risk appropriately for P&C distribution capabilities. 
• Plan should confirm risk mgmt. approach aligns to BU initiatives and with longer term corporate vision. 
• Ensures any out of compliance items are being mitigated and monitored appropriately. 
• Prioritizes frequency and methods of risk based on level of risk to the organization 
• Ensures processes are in line with regulatory guidelines. And ensures processes are updated effectively when regulatory guidelines are updated. 
• Responsible for analyzing and reporting quality data and trends to quality managers and business unit leaders. 

May also provide input to Quality Assurance Manager and Business Unit Leaders to build out a capacity model in support of Business Unit goals (Quality Planning). Analyzes data for multiple business units to find areas of opportunity across all BUs. 

Competencies needed: 

• • Strategic mindset 
• • Collaboration/Relationship building 
• • Situational adaptability 
• • Decision quality 
• • Manages complexity 

Compensation grade G3

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Job Description Summary

Do you have the desire to apply risk management practices to drive business outcomes? Nationwide has been managing risk to serve our members and affects results for almost 100 years. Our industry-leading workforce embraces an agile work environment and a collaborative culture to deliver outstanding solutions and results.

As a Consultant, you'll play a key role in ensuring our business partners have a clear understanding of the risks we take. You'll also have an opportunity to proactively manage these risks to ensure we meet our growth, capital and return business objectives. You'll weigh in on our risk management options across our businesses and operations to appropriately balance risk and reward for achievement of our mission, vision and strategic goals.

Job Description

Key Responsibilities:

• Consults with business partners on sophisticated enterprise risk management (ERM) philosophies, policies and practices. Crafts risk policies and coordinates risk management efforts. 

• Analyzes and measures enterprise risks. Performs stress testing, scenario analysis and other techniques to understand potential impacts to the modeled results.

• Links risk management to Nationwide’s strategy while enhancing risk diversification, protecting capital strength and supporting the achievement of risk-adjusted target returns.

• Handles risk monitoring and reporting processes. Defines standard enterprise risk metrics/measures for all significant risks.

• Leads initiatives associated with the identification, assessment, prioritization, and reporting of financial, operational and strategic risks to Nationwide. 

• Researches and analyzes risk findings/issues and recommends appropriate solutions to business partners. 

• Develops, implements and maintains the department governance, risk and controls software applications. 

• Owns specialized department training and ERM communication initiatives. Facilitates training and may attend conferences. 

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: None required. Progress toward CPA, CFA, or similar preferred.

Experience: Typically, five or more years of related work experience in insurance and/or the financial services industry. 

Knowledge, Abilities and Skills: Proficient analytical skills to build solutions for sophisticated risk management problems. Proven knowledge in risk management and the insurance industry. Confirmed ability to accomplish all activities related to the development and implementation of ERM processes. Proficient written and verbal communication skills. Skilled in presentations, influencing and project management. Ability to analyze financial and statistical data to make sound recommendations. 

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 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. 

We currently anticipate accepting applications until 03/20/2025. 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.

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 Consultant, Risk Management : $86,000.00-$178,000.00

The expected starting salary range for Consultant, Risk Management : $95,000.00 - $143,000.00