Sr Consultant, Risk Analytics Researcher

Nationwide Mutual Insurance•Columbus, OH

About The Position

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 senior-level expert with deep meteorological knowledge to lead research and development for catastrophe models, focusing on hurricanes and severe convective storms. Wildfire expertise is a plus but not required. This role will integrate meteorological science with risk modeling and geospatial analytics. In addition, this role will apply hybrid modeling approaches (stochastic catastrophe models + ML/statistics) to improve accuracy and conduct vendor model evaluations for accuracy and reliability. 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 Senior Consultant, you’ll lead projects associated with the design, development and application of unique risk models. You’ll need an understanding of strategic business objectives and will work with business partners across the 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

Strong background in meteorology/atmospheric science, especially hurricanes and severe convective storms.
Ability to analyze historical and real-time weather data (NOAA) for event simulation and loss estimation.
Experience with geospatial data integration (GIS tools, spatial analysis).
Proficiency in R and/or Python for data analysis and modeling.
Solid understanding of relational databases (SQL).
Strong research skills, including uncertainty quantification and advanced statistical modeling.
Undergraduate studies in finance, accounting, economics, statistics, mathematics or related subject area required.
Typically, seven or more years of related work experience in financial risk modeling or actuarial functions.
Strong understanding of machine learning, stochastic processes, Monte Carlo simulations, sampling methods and other statistical techniques applicable to specialized risk modeling.
Proven mathematical knowledge of specialized risk models such as those used in hedging, economic scenario generation, catastrophe, credit risk, etc.
Advanced understanding of risk management operations such as asset-liability management, portfolio risk assessment, hedging, etc.
Sophisticated written and verbal communication skills.
Advanced proficiency with Excel and common statistical software such as R, SAS, Python, or MATLAB.

Nice To Haves

Wildfire expertise is a plus but not required.
Familiarity with catastrophe modeling platforms (Verisk, RMS) is highly desirable.
Knowledge of working with insurance claims and underwriting processes.
Ph.D. in Meteorology, Atmospheric Science, or related field, OR Master’s with 5–10 years of relevant experience.
Demonstrated ability to conduct independent research and publish findings.
Insurance risk modeling experience is a plus.
Progress toward FCAS, FSA, CQF, CFA or similar preferred.
Graduate-level studies in a related field with advanced degree highly desirable.
Other criteria, including leadership skills, competencies and experiences may take precedence.

Responsibilities

Researches and implements financial engineering, data science and statistical techniques for risk management and business applications.
Creates and tests risk limits to provide guidance on asset allocation, risk transfer, and product growth decisions.
Owns all facets of complex quantitative modeling processes.
Ensures models align with industry standards.
Consults and collaborates to ensure model assumptions, processes, and outputs are well understood and that modeling standard methodologies are upheld throughout the organization.
Reviews and analyzes model output to identify model limitations and their impact.
Mitigates model limitations with the adaptation of appropriate, corrective quantitative methods.
Creates and owns model documentation for rationale, assumptions and business continuity.
Consults and develops creative and innovative solutions to support strategic 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