Associate Vice President - Annuity

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.

Please Note: This position is open to working remotely in the United States.

#LI-SJ1

Job Description Summary

Our Nationwide Financial Actuarial organization uses state-of-the-art tools and is 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 the Associate Vice President, you’ll create and drive the strategy related to maintaining a competitive in-force suite of Individual Annuity products. You’ll lead a team that will be accountable for product rate setting and the execution of action plans related to overall product competitiveness. You’ll be responsible for resources executing all new/enhanced product configuration activities for products on the Annuity Administration System (ALIP). You’ll also serve as the product expert and actuarial/in-force leader for the systems related to the legacy annuity insurance administrative platforms and the transformational program addressing these platforms.

Job Description

• Develops strategy and leads team that manages in-force review of existing products. Partners with Business Development, Marketing, Legal, and other areas of actuarial. 

• Oversees analysis of existing product portfolio by comparing actual performance relative to expectations of all in-force contracts to determine opportunity for crediting rate adjustments. 

• Owns responsibility for non-guaranteed element certifications for all legal entities, including management of NY 210. Participates on projects to improve customer communications relative to performance of policies.

• Oversees team that owns the configuration of all new/enhanced products on Accenture Life Insurance & Annuity Platform (ALIP), including designing and developing product specs/requirements, testing strategies and execution of all system configuration activities within administration application.

• Provides operational support to validate complex actuarial calculations, requirements, and data accuracy for annuity technology applications. 

• Leads team that provides all actuarial support for new/enhanced product implementations on ALIP including the review of customer statements and individual accounts for complex calculations and customer/producer issue resolution, and the audit of actuarial values and projections. 

• Serves as the product expert and actuarial/in-force leader for the legacy annuity insurance administrative platforms and the actuarial lead for the transformational program addressing Nationwide’s legacy annuity insurance portfolio.

• Leads all actuarial product requirements for Tier 1 Annuity initiatives across the breadth of in-scope products supporting the development and conversion to the new administration application(s).

• Actively participates in government relations activities to influence regulatory rulemaking and promotes thought leadership and expertise in this space through participation in industry work groups.  Oversees calculations of new business illustrations and responsible for managing regulatory changes related to illustrations.

• Oversees coordination with Technology, Actuarial Data Governance, and downstream application owners to ensure necessary data elements are populated and accurate in the NF Annuity data environment.

• Member of Nationwide Financial’s Finance Extended Leadership Team. Supports the recruiting and unique development needs of the entire Finance population.  Engages, develops, and coaches direct team of associates. Develops and maintains actuarial-specific competencies.  Participates in other Actuarial initiatives that develop and implement a future vision for the actuarial function.    

May perform other responsibilities as assigned.

Reporting Relationships: Reports to the VP & CFO, Annuity. Manages a team of 15-20 technical actuarial and finance professionals.

Typical Skills and Experiences:

Education: Undergraduate degree in Actuarial Science or Mathematics.

License/Certification/Designation: FSA designation preferred.

Experience: Typically, ten or more years of annuity pricing and/or product development experience, including product pricing / actuarial principles, analysis, leveraging systems capabilities (ALFA/Axis), business perspective. Individual annuity insurance pricing / business experience preferred.

Knowledge, Abilities and Skills: Demonstrated organizational agility, ability to influence, proven conflict management skills, ablet to motivate others, drive for results, dealing with ambiguity, strong customer focus, excellent communication and collaboration skills

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.

Job Conditions: 

Overtime Eligibility: Exempt (Not Eligible)

Working Conditions: Normal office environment. Some travel may be required.

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 10/15/2025. 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.#actuarialSmoke-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

NOTE TO EMPLOYMENT AGENCIES:

We value the partnerships we have built with our preferred vendors. Nationwide does not accept unsolicited resumes from employment agencies. All resumes submitted by employment agencies directly to any Nationwide employee or hiring manager in any form without a signed Nationwide Client Services Agreement on file and search engagement for that position will be deemed unsolicited in nature. No fee will be paid in the event the candidate is subsequently hired as a result of the referral or through other means.

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. Note on Compensation for Part-Time Roles: Please be aware that the salary ranges listed below reflect full-time compensation. Actual compensation may be prorated based on the number of hours worked relative to a full-time schedule.The national salary range for AVP, Actuary - Annuity In-Force Management : $162,000.00-$320,000.00The expected starting salary range for AVP, Actuary - Annuity In-Force Management : $171,000.00 - $287,000.00