Sr. Actuary - Pension Risk Transfer Remote

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 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 pension and/or PRT actuary, with a strong ability to influence internal stakeholders and contribute to the overall success of the organization.

Key Responsibilities:

• 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 a given PRT deal, including mortality, mortality improvement, withdrawal rates, retirement rates, and disability incidence. This includes experience study calculations and analysis for deals with MED (mortality experience data).

• 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.

• Partner with business teams to develop responses to RFPs.

• Continuously improve the pricing model within AXIS.

• Manage workflow assignments for the team and develop junior associates.

• Present results and concepts to business partners and other internal stakeholders.

Preferred Qualifications and Skills:

• Experience as a pension and/or PRT actuary.

• Fellow of the Society of Actuaries (FSA) highly preferred or Associate of the Society of Actuaries (ASA) and Enrolled Actuary (EA).

• Typically, eight or more years of actuarial experience.

• Proficiency in Excel.

• Excellent problem-solving skills.

• Strong communication and presentation skills to influence internal stakeholders.

• Ability to work collaboratively in a team environment.

• Strong organizational and time management skills.

Additional Insights:

• Team & Company Culture: The role is within Nationwide Financial Actuarial team, which encourages innovation and mastery of actuarial methodologies. The team values collaboration and continuous improvement.

• Work Arrangements:  Please Note: This position is preferred to sit in Columbus, OH to work a two day a week hybrid schedule. This role could also be staffed fully remote.

• This position will be staffed at the H5 internal pay band.

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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

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