Predictive Modeler / Pricing Modeler – Commercial Actuarial

Nationwide Mutual Insurance•Columbus, OH

3d•Remote

About The Position

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. Nationwide’s Commercial Lines team is hiring a Predictive Modeler / Pricing Modeler to help shape sophisticated insurance pricing models and deliver insights that influence business decisions. This role is ideal for someone who brings strong technical modeling skills and either a solid actuarial foundation, commercial insurance knowledge, or both. In this position, you will work at the intersection of predictive analytics, actuarial thinking, and pricing strategy. You will partner closely with teammates and business partners to build, enhance, and refine models that support commercial insurance pricing. You will also have the opportunity to work across a variety of projects, expand your technical toolkit, and deepen your understanding of how modeling drives real business outcomes. 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.

Requirements

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.
Predictive modeling or pricing model experience
Commercial insurance, property and casualty, or broader insurance analytics experience
Knowledge of actuarial concepts, pricing mechanics, or loss cost / relativity-based thinking
Hands-on coding experience in R, Python, SQL, or similar analytical tools
The ability to translate data into actionable pricing or underwriting insight
Strong problem-solving skills and the ability to work through technical detail in a collaborative setting

Nice To Haves

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.

Responsibilities

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.

Benefits

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