Sr Director, Specialty Finance - Risk Analytics

As a team member in the Finance and Internal Audit 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 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.

This role does not qualify for employer-sponsored work authorization.  Nationwide does not participate in the Stem OPT Extension program.

Internal Compensation Grade: 82
Location: This position can be filled as Hybrid in Columbus OH but will consider remote for the right candidate.
 

Job Description Summary

Do you have the desire to grow a business and play a critical role in shaping business outcomes? Nationwide has been serving our members and driving business outcomes for almost 100 years. Our industry-leading workforce thrives in an agile work environment and a collaborative culture and delivers outstanding solutions and results. Our Investment and Risk professionals play a key role in transforming quantitative data analysis into meaningful insights that drive business results.

Nationwide Specialty Finance employs a research-driven, team-oriented, and results-focused approach to create and manage a wide array of innovative capital market insurance solutions like collateral protection, residual value, and portfolio insurance. Innovative product solutions critically depend on analysis of product as well as portfolio risks requiring an asset and liability lens to evaluate overall attractiveness of risk and return.

As the Senior Director of Risk Analytics on our Specialty Finance team, you will be responsible for identifying and analyzing all risk aspects of these products and working with the team to structure these effectively. You will also play a critical role in the ongoing monitoring and management of the new product portfolio. Collaborating with real estate, credit and other experts across the investment teams as well as legal, accounting and operational functions are an important part of the role. You will also work closely with external partners, and will play an integral part in establishing, maintaining, and overseeing underwriting and operating manuals and guidelines.

Job Description

Key Responsibilities:   

• Drives development and implementation of portfolio risk framework across all new Specialty Finance products, reflecting both investment and insurance elements; framework that determines where products and its risks should reside (e.g., Bermuda, US etc).   

• Drive integration of risk measurement and monitoring with the rest of the organization.

• Drives overall economic and return analyses establishing methodologies for evaluation of risk and return, bridging traditional asset-oriented approaches with product-focused views.  

• Identifies risk and return drivers, develops and models forward-looking scenarios, analyzes relative value, and provides recommendations for pricing of specialty finance products.  

• Works with Controllership to identify and implement stat, GAAP and Bermuda treatments for reserves and risk capital, and reflects appropriate treatments in pricing.  

• Communicates analysis and recommendations through written reports, presentations, conversations, and meetings with internal and external partners.

• Contributes to the establishment and implementation of a risk appetite, budget, and limit framework for specialty finance products, leveraging and appropriately adjusting existing frameworks.  

• Builds relationships with internal and external partners to identify and assess new product opportunities.

• Interfaces with accounting, finance, legal, regulatory, and rating agency teams to structure products in an effective and efficient manner.

• Designs and implements performance and risk measurement tools and reporting for the specialty finance venture.  

• Monitors, reviews, and evaluates industry, economic, and regulatory trends that impact products.

• Identifies innovative approaches to manage and contributes to enhancement of the team's overall approach to evaluating and managing opportunities, including evaluation framework, underwriting guidelines, accounting approaches, and ongoing management.  

• Establish and drive functional area vision, strategy, and objectives; oversee and lead associate management to include performance management, talent management, engagement, salary planning and administration and resource demand management strategies.

May perform other responsibilities as assigned.

 

Reporting Relationships:  Reports to VP, CRO -Specialty Insurance. Leads a team of four or more professionals.  

  

Typical Skills and Experiences: 

 

Education:  Bachelor’s Degree; FCAS, FSA, CFA, or MBA, MS or MA in business administration, economics, finance preferred.   

 

Experience:  Typically, ten or more years of experience in finance or actuarial experience with direct accountability for risk modeling, capital management, advanced financial analysis, advanced statistics, project management, and/or working with regulators. Leadership experience a plus. 

 

Knowledge, Abilities and Skills:   

• Proven expert in analytic and modeling capabilities.  

• Conversant in asset valuation methodologies, risk capital principles and return on capital-based analysis.  

• Demonstrated understanding of stat and GAAP accounting principles related to assets and derivatives, exposure to P&C accounting principles a plus.  

• Expert in Excel; Bloomberg, Python, Databricks and/or Snowflake experience is a plus.  

• Demonstrated curiosity and ability to apply risk and return principles to innovative products.  

• Demonstrates presence with excellent verbal and written communication.  

• Skilled at being organized, detailed, and process oriented, as well as demonstrated advanced problem-solving capabilities.  

• Possesses well-developed negotiating skills; is positive, hardworking, pro-active, and professional.  

• Highly collaborative and team oriented; critical and creative thinker; comfortable expressing opinions and views to peers and executive leaders; decisive with strong judgment; driven self-starter and capable of working independently; and responsive, reliable, and timely.  

• Handles pressure well and capable of managing multiple tasks and projects simultaneously.  

• Ability to successfully coordinate and work across multiple groups. 

 

Other criteria, including leadership skills, competencies and experiences may take precedence. 

 

Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner. 

 

Values: Regularly and consistently demonstrates Nationwide Values. 

 

Job Conditions:   

 

Overtime Eligibility: Not Eligible (Exempt) 

 

Working Conditions: Normal office environment. Some travel may be required. 

 

ADA: 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.  

 

Credit Check:  Due to the fiduciary accountabilities within this job, a valid credit check and/or background check will be required as part of the selection process. 

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We currently anticipate accepting applications until 09/25/2024. However, we encourage early submissions, as the posting may close sooner if a strong candidate slate is identified before the deadline.

Benefits

We have an array of benefits to fit your needs, including: 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, and more. To learn more about the benefits we offer, click here.

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.

This position could be filled within any of the lower 48 U.S. states.

Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.

For NY residents please review the following state law information: Notice of Employee Rights, Protections, and Obligations LS740 (ny.gov) https://dol.ny.gov/system/files/documents/2022/02/ls740_1.pdf

Nationwide pays on a geographic-specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range.

The national salary range for Sr Director, Specialty Finance - Risk Analytics : $136,000.00-$268,000.00

The expected starting salary range for Sr Director, Specialty Finance - Risk Analytics : $143,000.00 - $239,000.00