Nationwide Sr Actuary, NF in Des Moines, Iowa


Senior Actuary, Annuity Product Development


Nationwide Financial is seeking an experienced actuary with 7+ years of experience with a background in product development. This role is a key individual contributor role in Annuity Pricing that will have direct exposure to senior management. An FSA is preferred but qualified ASAs with the appropriate expertise will also be considered.

The Annuity Product Development Actuary will be involved in product efforts from inception through launch and perform activities necessary to recommend the optimal balance between profitability, risk & capital management, competitiveness, and compensation. Primary responsibilities of the role include the following:

  • Understand the competitive environment in the annuity market; collaborate with business partners to understand consumer needs; recommend and price product designs and new products that meet business objectives

  • Develop models and tools to understand key risks, analyze financial outcomes, and recommend appropriate pricing structures for variable annuity products

  • Analyze and recommend appropriate changes to assumptions for new and existing products

  • Analyze product risks and recommend thresholds, limits or alternatives to mitigate exposure

  • Support filing requirements for new products and other regulatory needs for existing products

This is a highly collaborative role and will become part of an Actuarial team that has an opportunity to work on many types of variable annuity products and features. The position will have the opportunity to lead highly visible projects.

Candidates should be able to influence the many stakeholders involved in bringing new products to market. This is an individual contributor role and will not have direct reports.

The following skills/experiences are most relevant for this position

  • Product design and pricing experience

  • Solving complex actuarial/market problems

  • Experience with product development projects

  • A strong understanding of real-world pricing and hedging

  • Experience with statutory valuation

The following competencies are most relevant for this position:

  • Ability to take ownership of projects and drive them to completion autonomously

  • Education and influence of others

  • Oral and written communications

  • Ability to contribute to team success

  • Analysis and problem-solving skills

  • Skilled in managing multiple projects/tasks simultaneously

This role may be filled at the Actuary level based on experience.

JOB SUMMARY: May be involved in the following; the determination of pricing structure and premiums, the origination and evaluation of new product ideas, the analysis and interpretation of product line financials, testing reserve adequacy, cash flow analysis, investment strategy, risk and capital management analysis, and/or other NF actuarial science and research for a section or unit of a large subset of a major product group, business, or market segment. Regularly consults senior management on actuarial, mathematical, or risk management techniques in determining the appropriate courses of action. May oversee NF actuarial projects. Will be a a master/expert performing and assisting in a variety of Actuarial tasks which may include: data compilation and analysis, illustrations, model development, financial reporting and analysis, pricing, risk and reinsurance analysis, reserving/valuation and other duties as assigned.LOCATION: Nationwide FinancialRELATIONSHIP: Reports to Actuarial Leader, or other actuarial management.DIRECT REPORTS: May direct and train lower level actuarial/students.JOB RESPONSIBILITIES:1. Compiles, categorizes & analyzes data.2. Leads in Illustrating/reproposals for products and testing illustration software.3. Builds, maintains, runs, and analyzes actuarial Models, using expert knowledge of actuarial projection and/or valuation models such that the models can be optimized to support multiple applications.4. Performs financial reporting & analysis.5. Performs pricing of products.6. Performs the analysis of risks for lines of business.7. Establishes and understands reserves using in-depth knowledge and application of statutory, GAAP, and tax valuation standards for products.8. Analyzes reinsurance opportunities and recommends solutions.9. Performs other duties as assigned.JOB REQUIREMENTS:Education: Undergraduate degree in Actuarial Science, Mathematics, Statistics, or similar background requiring modeling, programming, or quantitative analysis.Designations/Certifications: Achievement of Fellowship in the Society of Actuaries. Membership in the Society of Actuaries and American Academy of Actuaries. PLEASE REFER TO THE NATIONWIDE LIFE INSURANCE COMPANY ACTUARIAL DEVELOPMENT PROGRAM FOR ADDITIONAL INFORMATION.Experience: At least eight years of Actuarial experience and Actuarial Council approval.Knowledge: In-depth knowledge of actuarial business functions, statistical methods of analysis, company actuarial systems and databases, and their integration; technical facility with leading computer tools and technology; In-depth knowledge of actuarial viewpoint in a wide variety of actuarial subjects, and in Company, Industry, and Regulatory practices. In-depth knowledge of company operations, products, systems and actuarial methodologies.Skills/Competencies: Master/Expert in Microsoft Office products (including VBA within Access and Excel), programming languages and Actuarial models. Basic level of organizational agility, conflict management, command skills, strategic agility, and motivating others. Proficient level of delegation and accounting. Mastery level of perspective, problem solving, dealing with ambiguity, customer focus, drive for results, learning on the fly, analysis, business perspective, and leveraging system capabilities.Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.Staffing Exceptions to the above minimum job requirements must be approved by: Chief Actuary and VP, Human Resources.JOB CONDITIONS:Overtime Eligibility: Not Eligible (exempt).Working Conditions: Normal Office EnvironmentCredit Check: N/ASafety Sensitive: N/AADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.Job Evaluation Activity: Evaluated 9/22/08 DLRJob Function Family: ACT/LIFE