Consultant, Risk Analytics Researcher

Nationwide Mutual Insurance-posted 9 days ago
$115,000 - $215,000/Yr
Full-time • Mid Level
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. Purpose: We need a candidate who can apply machine learning and statistical techniques to catastrophe risk modeling. This role will support research and development of predictive models using large weather datasets, geospatial information, and insurance exposure/loss data. Additionally, this role will contribute to building hybrid modeling approaches that combine stochastic catastrophe models with machine learning/statistical methods to improve accuracy. 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. 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 Consultant, 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 authority in Nationwide’s risks. It’s imperative that you are fully proficient with basic and sophisticated mathematical, statistical and analytical techniques associated with risk modeling.

  • Researches and implements financial engineering, data science and statistical techniques for risk management and business applications.
  • Completes regular testing of risk limits to provide distinct management guidance on asset allocation, risk transfer and product growth decisions.
  • Owns complex quantitative modeling processes and philosophies.
  • Identifies industry standards to understand 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 their impact.
  • Provides corrective quantitative methods.
  • Crafts and updates model documentation for business continuity purposes.
  • Collaborates to develop creative solutions to business problems.
  • Acts as the technology owner for Risk Analytics.
  • May perform other responsibilities as assigned.
  • Strong programming in R and/or for data science workflows.
  • Experience with machine learning algorithms such as: Random Forests Regression models (linear, logistic, etc.) Mixed-effects modeling for hierarchical data structures.
  • Ability to work with large-scale datasets, including climate/weather and insurance data.
  • Geospatial data analysis experience (e.g., GIS tools, spatial joins, raster/vector data).
  • Solid understanding of relational databases (SQL).
  • Knowledge of statistical modeling and predictive analytics.
  • Master’s degree or higher in Data Science, Computer Science, Statistics, Applied Mathematics, or related field.
  • Demonstrated ability to conduct independent research and publish findings.
  • Undergraduate studies in finance, accounting, economics, statistics, mathematics or related subject area required.
  • Typically, five or more years of related work experience in financial risk modeling or actuarial functions.
  • Working knowledge of machine learning, stochastic processes, Monte Carlo simulations, sampling methods and other statistical techniques applicable to specialized risk modeling.
  • Solid understanding of risk management operations such as asset-liability management, portfolio risk assessment, hedging, etc.
  • Proficient written and verbal communication skills.
  • Intermediate proficiency with Excel and common statistical software such as R, SAS, Python, or MATLAB.
  • Familiarity with catastrophe modeling platforms (Verisk, RMS) is highly desirable.
  • Exposure to insurance or financial risk modeling is desirable.
  • Graduate-level studies in a related field with advanced degree highly desirable.
  • Progress toward FCAS, FSA, CQF, CFA or similar preferred.
  • Prefer mathematical knowledge of specialized risk models such as those used in hedging, economic scenario generation, catastrophe, credit risk, etc.
  • Other criteria, including leadership skills, competencies and experiences may take precedence.
  • 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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