Sr. Actuary Pension Risk Transfer Pricing

As a team member in Finance at Nationwide, the opportunities are endless! 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.

Location: On-site/Hybrid in Columbus, OH, or Remote

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 PRT, ALM, or Investments Actuary, with a strong ability to influence internal stakeholders and contribute to the overall success of the organization.

Key Responsibilities:

• Thought leadership on the PRT Pricing team.
• Lead pricing initiatives for large and complex deals, partnering with OOI and ALM to develop custom pricing strategies and influence key stakeholders on a case-by-case basis.
• 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.
• 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 each PRT deal, including mortality, mortality improvement, withdrawal rates, retirement rates, and disability incidence.
• Partner with business teams to develop responses to RFPs.
• Develop junior associates.
• Drive results and decision making with business partners and other internal stakeholders.

Qualifications and Skills:

• Experience as a PRT, ALM, or Investments actuary
• Fellow of the Society of Actuaries (FSA) or Associate of the Society of Actuaries (ASA)
• Proficiency in Excel
• Ability to establish strategic direction
• Excellent problem-solving skills
• Excellent communication and presentation skills to influence internal stakeholders
• Ability to work collaboratively in a team environment
• Strong organizational and time management skills

This role does not qualify for employer sponsored work authorization. Nationwide does not participate in the STEM OPT extension program.

  

It is our intention to fill this role in Columbus, Ohio. However, willing to consider applications from internal candidates working remotely or external candidates who bring critical industry skills and relevant experience may be considered. 

Internal Compensation Grade: H5

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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 mult