Actuarial Specialist - Commercial Pricing Modeler

Nationwide Mutual Insurance-posted 8 days ago
Full-time • Mid Level
Hybrid • Columbus, OH
5,001-10,000 employees
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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: Are you passionate about analyzing data and driving business outcomes through groundbreaking research? Nationwide is seeking a talented and driven Pricing Modeler - Commercial Actuarial to join our dynamic team. In this role, you'll harness the power of data to deliver impactful results, working on sophisticated problems and uncovering valuable insights. Why Join Us? Impactful Work: Contribute directly to business outcomes through data-driven insights. Collaborative Culture: Thrive in an agile environment with a supportive and collaborative team. Career Growth: Advance your skills in a role that is critical to team restructuring and innovation Do you have the desire to analyze data and perform groundbreaking research to drive business outcomes? Nationwide has been using data to serve our members and drive business outcomes for almost 100 years. Our industry-leading workforce adopts an agile work environment and a collaborative culture to deliver outstanding solutions and results. At Nationwide, our Risk Analytics Researchers play a key role in harnessing the power of data to deliver business results. Specifically, they are responsible for modeling sophisticated problems, discovering insights and identifying business opportunities from data using a variety of techniques from mathematics, actuarial studies, statistics, data science and financial engineering. As a Researcher Specialist, you’ll work on projects associated with the design, development and application of unique risk models. You’ll need a basic understanding of broad business objectives and will work with business partners across the finance organization to develop solutions to pressing business needs. We’ll count on you to be a subject matter expert in Nationwide’s risks. It’s imperative that you are familiar with basic and sophisticated mathematical, statistical and analytical techniques associated with risk modeling.

  • Research and implement actuarial, data science, statistical and machine learning techniques for business applications
  • Contribute to pricing modeling processes, ensuring industry standards are met and models are working as intended.
  • Collaborate to ensure consistent model assumptions, processes, and outputs are well understood.
  • Review and analyze model output to identify limitations and impacts.
  • Assist in crafting and updating model documentation for rationale, assumptions, and business continuity purposes.
  • Apply expertise to develop creative solutions to business problems.
  • Assists in the research and implementation of financial engineering, data science and statistical techniques for risk management and business applications.
  • Supports regular testing of risk limits to provide management guidance on asset allocation, risk transfer and product growth decisions.
  • Aids with quantitative modeling processes.
  • Understands industry standards and identifies if models are working as intended.
  • Collaborates to ensure that consistent model assumptions, processes, and outputs are well understood and that modeling standard methodologies are upheld.
  • Reviews and analyzes model output to identify model limitations and impacts.
  • Assists in crafting and updating model documentation for rationale, assumptions and business continuity purposes.
  • Applies expertise to develop creative solutions to business problems.
  • Acts as the technology lead for risk analytics.
  • May perform other responsibilities as assigned.
  • Bachelor's degree in actuarial science, economics, statistics, mathematics, analytics or a related field.
  • Three or more years of related work experience in predictive modeling or actuarial functions.
  • Progress toward actuarial credentials (ACAS, FCAS, or similar preferred).
  • Experience with techniques such as regression, classification, time series analysis, and machine learning.
  • Proficiency in SQL, Python (scikit-learn, pandas) or R, Github and common software such as Excel, PowerPoint.
  • Experience with feature engineering and data preprocessing.
  • Familiarity with data visualization tools/Ability to visualize data using Excel, Tableau or Power BI.
  • Strong written and verbal communication skills.
  • Excellent analytical and problem-solving skills.
  • Undergraduate studies in finance, accounting, economics, statistics, mathematics or related subject area required.
  • Typically, three or more years of related work experience in financial risk modeling or actuarial functions.
  • Knowledge of machine learning, stochastic processes, Monte Carlo simulations, sampling methods and other statistical techniques applicable to specialized risk modeling.
  • Basic mathematical knowledge of specialized risk models such as those used in hedging, economic scenario generation, catastrophe, credit risk, etc.
  • Experience with risk management operations such as asset-liability management, portfolio risk assessment, hedging, etc.
  • Proficient written and verbal communication skills.
  • Basic proficiency with Excel and common statistical software such as R, SAS, Python, or MATLAB.
  • Graduate-level studies preferred.
  • Progress toward actuarial credentials (ACAS, FCAS, or similar preferred).
  • Graduate-level studies in a related field with advanced degree highly desirable.
  • Progress toward FCAS, FSA, CQF, CFA or similar preferred.
  • 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
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