Sr Actuary, NF - Protected Retirement Product Development & Pricing Actuary

As a team member in Finance at Nationwide, a Fortune 100 company with nearly $70 billion in annual sales, 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.

Sr Actuary, Protected Retirement Product Development & Pricing

Nationwide Financial is seeking a Sr Actuary, Product Development & Pricing to join a dynamic, cross-functional team focused on delivering innovative lifetime income solutions within defined contribution (DC) plans. This is a unique opportunity to be an early contributor to a rapidly growing product line centered around group annuity solutions designed to provide guaranteed lifetime income.

This Protected Retirement Product Development and Pricing role is involved in product development efforts from inception through launch and performs activities necessary to find the optimal balance between profitability and competitiveness while limiting downside risk and ensuring compliance with state and federal regulations. Key elements of this role include product innovation, product design, analyzing and developing pricing assumptions, building models, evaluating base product and embedded policyowner options, writing specifications for administrative systems, presenting products for approval to a formal risk committee, and filing actuarial demonstrations with state and federal regulatory bodies. 

Given anticipated growth, leadership potential is desired.

Key Responsibilities:

• Working creatively and collaboratively with other functional areas to develop solutions for customers
• Assisting in the development of actuarial pricing assumptions; mortality, lapse, expense, distribution, etc.
• Building and modifying AXIS  pricing models
• Evaluating/analyzing pricing results including sensitivity tests and stochastic economic scenarios, embedded policy owner options and tail risk analysis
• Reviewing competitive intelligence to support product design efforts, charge structure 
• Assisting with State and Federal Regulatory filings
• Helping prepare Product Risk Committee and Senior Management product communications

Skills & Qualifications:

• FSA Credential
• Self-motivated/Self Starter -  Ability to take ownership of projects and drive them to completion
• Strong analysis and problem-solving skills
• AXIS experience strongly preferred
• Oral and written communication skills
• Ability to work in a team environment

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

This position can be staffed remotely for potential applicants with critical industry skills and relevant experience.

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