Senior Asset Liability Management Professional

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.

As a Senior Professional on the Enterprise Risk Asset/Liability Management (ALM) Team, you will be an important contributor to the development of investment strategy and risk targets across the organization to help the company grow the funds necessary to serve our customers in their greatest times of need.You’ll be a subject matter expert on the asset models (ALFA, GGY AXIS) used to support new business pricing, ALM, Corporate Risk Model, and investment income and capital forecasting. You’ll help shape the investment risk and strategy recommendations to senior leadership across the company, focusing on impact to total return, investment income, volatility, and capital.

Additional Key Responsibilities:

• Maintains and enhances asset modeling to support pricing, ALM, Corporate Risk Model, and investment income and capital forecasting, such as Operating Plan, Strategic Plan, etc.  Utilizes deep knowledge of all types of investments on the balance sheet, as well as maintenance of complex models of prepayments / cash flow risk, interest rate risk, credit risk [migration/defaults], equity market risk, inflation risk, etc. 
• Owner of several Tier I models for the enterprise.  Adheres to our Enterprise Model Governance program to ensure we have the appropriate controls, documentation, and review required. 
• Key contributor to Asset Adequacy Testing (AAT).  Subject matter expert on the asset modeling deliverables.
• Applies in-depth knowledge of complex assets, including structured products and alternative assets, to determine which models to build versus which to source externally.  Systems expert and thought leader to evaluate options and align stakeholders on best approach.  Anticipates systems needs to support portfolio growth and envisions future state requirements.  

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Job Description Summary

Do you have the desire to play a critical role in driving data-based business outcomes? Nationwide has been using data to serve our members and drive business outcomes for almost 100 years. Our industry-leading workforce accepts an agile work environment and a collaborative culture to deliver outstanding solutions and results. Our Risk professionals play a key role in transforming quantitative data analysis into meaningful insights that drive business results.

As a Senior Professional on the Enterprise Risk Management (ERM) Asset/Liability Management (ALM) Team, you will be an important contributor to the development of investment strategy and risk targets across the organization to help the company grow the funds necessary to serve our customers in their greatest times of need. You’ll be a subject matter expert on strategic asset allocation (SAA), investment strategy, and investment risk projects for our business partners across the enterprise, including Nationwide Financial, Property & Casualty, Pension, 401(h), and Foundation. You’ll contribute to investment risk and strategy recommendations to senior leadership across the company, focusing on impact to total return, investment income, volatility, and capital. You’ll also aid our asset modeling efforts that support risk management, new business pricing, investment income forecasting, capital planning, and ongoing reporting to state regulators and rating agencies.

Job Description

Key Responsibilities:

• Develops ongoing strategic asset allocation studies for Property & Casualty, Nationwide Retirement Plan, Nationwide retiree medical [401(h)] plan, and/or Nationwide’s charitable foundation.  Performs asset allocation studies for other clients, such as new ventures and internal plans as needed.  These investment strategies include fixed income, equity, alternative and derivative asset classes.

• Builds communication materials on investment strategy, risk limit recommendations, and periodic performance updates to senior leadership / governing bodies for each client, including Enterprise Financial Risk Committee, Benefits Investment Committee, NF Risk Committee, NF Product Risk Committee, Investments Risk Committee, etc.

• Partners with Nationwide Financial (NF) to set investment risk management guidelines, targets, and limits for insurance and annuity products sold by NF.  These investment guidelines include asset allocation targets and limits for duration, credit risk, alternative investments, floating rate exposure and other components of risk.  Evaluates new investment ideas for suitability with client objectives.

• Collaborates with Enterprise Portfolio Management and Asset Management to provide representative investment strategies to NF to support pricing, ALM, Corporate Risk Model, and investment income forecasting.

• Monitors capital markets to build and update investment assumptions used in ALM tools and applications.  Develops and maintains assumptions, including the complex statistical analysis of historical data and trends.

• Creates annual fund-of-funds asset allocation modeling for NF IMG team.

• Maintains and enhances asset modeling to support pricing, ALM, Corporate Risk Model, and investment income and capital forecasting, such as Operating Plan, Strategic Plan, etc.  Utilizes deep knowledge of all types of investments on the balance sheet and as well as maintenance of complex models of prepayments / cash flow risk, interest rate risk, credit risk [migration/defaults], equity market risk, inflation risk, etc.

• Recommends adjustments to the calibration of Office of Investments’ incentive performance (OIP) scorecard, using eVestment database of peer investment manager performance.

May perform other responsibilities as assigned. 

Reporting Relationships:  Reports to Asset Liability Management Leader

Typical Skills and Experiences: 

Education:  Undergraduate degree in finance or quantitative field. Graduate degree preferred.

License/Certification/Designation: Chartered Financial Analyst (CFA) or actuarial designation (FSA or ASA) preferred.

Experience:  Typically, eight or more years of experience in investments and/or previous insurance company experience. Experience with ALM and/or investment risk management is preferred.

Knowledge, Abilities and Skills:  Understands fixed income, equity, alternative, and derivative asset class concepts and relationships. Knowledge of insurance and financial services products. Exceptional analytical, critical thinking, and problem-solving capabilities. Excellent written and verbal communication skills. Team oriented. Composed and decisive under pressure or when challenged. Driven, self-motivated, and inquisitive. Creative, organized, responsive, and detail oriented. Able to apply financial knowledge and methods to address investment questions and facilitate improved decision making. Deep understanding of capital markets, risk management, insurance products, and insurance capital frameworks (regulatory and rating agency). Knowledge of related accounting, and tax concepts is beneficial.

Experience with advanced analytical tools (MG-ALFA, GGY-AXIS, FIRM, ADVISE, MATLAB, FactSet, Bloomberg, etc.) is a plus.

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: Not Eligible (Exempt)

Working Conditions: Normal office environment with limited travel.

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. 

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.

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.