Actuary – Property & Casualty Reserving

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 Profile Summary

• Ensuring adequate resources to support claims is one of the ways we fulfill our promise to our customers. Working closely with business leaders throughout Nationwide’s Property & Casualty (P&C) organization, we provide the data and expertise they need for appropriate reserving. If you are a leader with analytical skills, business and insurance knowledge and the ability to communicate complex information to a variety partners – internal and external – we want to hear from you!

• As an Actuary, you’ll lead reserving studies for asbestos, environmental, and other mass tort exposures for both legacy on on-going portfolios. This includes monitoring and maintaining the overall adequacy of these liabilities as well as presenting the results of the analysis in a clear and concise manner to both actuarial and non-actuarial audiences. Special projects includes upgrading stochastic analyses within our mass tort reserve and ceded portfolios.

• In addition, you’ll be helping collaborating with Reserving Operations, Pricing, and various Business Insights team to help manage cross-lines data specific to Commercial Lines & NWAG.

• We'll count on you to use sound actuarial techniques and seasoned judgment, organize and direct reserve review process and risk management efforts with regards to Indemnity and related exposures.

Key Responsibilities

• Maintains a constant dialogue with Claims leadership to assure that changes in procedures and operations as well as industry trends and new developments are accurately reflected in the selection of estimated loss and loss adjustment expense amounts.

• Supervises and assesses corporate liabilities on a regular basis. This includes detailed book of business analyses that are organized throughout the year and result in annual revisions. Leads the management of related in-house exposure models.

• Conducts complex analyses, adhering to actuarial standards, by selecting appropriate data sources, making assumptions, recognizing consideration, 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 vision. Analyzes and effectively communicates trends and changes in financial results to senior management.

• Manages retrieval and manipulation of data to ensure suitability with actuarial methodologies employed.

• Ensures documentation of assumptions, methods, sources, and considerations; adheres to CAS standards of practice.

• Assists in the valuation of mergers/acquisitions by providing estimates of the adequacy of the liabilities carried by potential business partners.

• Represents company professionally in all internal/external interactions; exercises outstanding judgment; keeps Associate Vice President / Senior Officer advised as needed. Negotiates as assigned within defined parameters.

• Develops and implements new techniques used in peer reviews. Participates in peer reviews to provide expert guidance, collaboration, ensure quality work and drive innovation.

• Operates as corporate leader to advance and influence the strategic direction within Nationwide.

Typical Skills and Experiences

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

• License/Certification/Designation: Fellowship in the Casualty Actuarial Society preferred, Associate in the Casualty Actuarial Society required.

• Experience: Generally, seven 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. Mastery of Microsoft Office products, analytical software, and programming languages. Intermediate 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.

• Other criteria, including leadership skills, competencies and experiences may take precedence.

• Values: Regularly and consistently demonstrates Nationwide Values.

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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 an Actuary, you’ll show a mastery of business operations, systems, and actuarial methodologies. You will provide leadership, direction and oversight for the performance of complex actuarial techniques and procedures and risk analysis. In addition, you’ll develop a strategic vision for the team to ensure efficient, consistent and integrated data and analysis. We’ll count on you to provide business recommendations that are crucial to the success of Nationwide and the protection we provide our customers. You’ll need to work independently and may lead others (directly and/or indirectly).

Job Description

Key Responsibilities:

• Acts as strategic technical expert of actuarial methodologies allowing the ability to source and manipulate data within standard requirements.

• Conducts complex analyses, adhering to actuarial standards, by selecting appropriate data sources, making assumptions, recognizing consideration, 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.

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

• Prepares and presents actuarial findings and documents 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.

• Develops cross functional work plans and ensures accurate work product is delivered. Identifies any additional business partners needed for work plan success.

• Develops and implements new techniques used in peer reviews. Participates in peer reviews to provide expert guidance, collaboration, ensure quality work and drive innovation.

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

• Identifies gaps in training for new associates and develops solutions.

• Uses data mining techniques to identify new relationships in data and make recommendations based on findings. Has foundational knowledge of modeling software and the ability to use/teach others. Expert use of predictive modeling.  Serves as lead on recommending new software packages that impact long term success of PC actuarial.

• Operates as corporate leader to advance and influence the strategic direction within Nationwide.

• Consults and provides expert advice on new or enhanced product development opportunities, including discussions on data needed for analysis, coding implication, and opinions on the viability and profitability of the 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 PC INSURANCE COMPANY ACTUARIAL STUDENT PROGRAM FOR ADDITIONAL INFORMATION

Experience: Generally, seven 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. Mastery of Microsoft Office products, analytical software and programming languages. Basic 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.

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 11/02/2025. 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

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 Actuary PC : $124,000.00-$238,000.00The expected starting salary range for Actuary PC : $134,000.00 - $202,000.00