Consultant, Quantitative Risk Analytics - Remote

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.

Associates in Quantitative Risk Management work on solving some of the most interesting (and most challenging) quantitative problems at Nationwide. Our associates are highly visible throughout Finance and with our business partners, and our work is critical in influencing financial outcomes for Nationwide. We are looking for a curious and talented individual to join our hedge analytics team to support risk management on our growing annuity and life insurance businesses.

Responsibilities and Potential projects:

• Implementation and ongoing development of our in-house indexed life/annuity hedge valuation and performance monitoring system using GPU-enabled Python

• Diagnosing and attributing hedge performance and developing strategies to improve performance considering multiple frameworks (economic, GAAP/Statutory financials, etc.)

• Assist in developing new hedge attribution reports to analyze previous, current, and future performance.

• Development and ongoing maintenance of our in-house economic scenario generator that is used widely across the enterprise

• Assist in supporting regulatory requirements supporting Financial Reporting and Valuation actuarial teams related to hedging and producing time sensitive deliverables.

Key skills to be successful in this role include:

• Strong programming ability in Python, MATLAB, or similar, familiarity with object orientated programming essential

• Strong quantitative ability and aptitude in learning new concepts quickly

• Understanding of derivative/quantitative finance theory

• Ability to effectively communicate technical concepts to a variety of audiences

Nice to haves:

• Experience with:

  • Numpy, Pandas & Python Based Statistical Packages

  • AWS Cloud Compute

  • Multi-process programming in the context of Python’s GIL

  • Machine learning and other advanced analytics techniques

This role will be staffed at the G5 internal pay band. This role can be staffed fully remote.

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Job Description Summary

Do you have the desire to play a critical role in driving data-based business outcomes? Nationwide has been using data to serve our members and drive business outcomes for almost 100 years. Our industry-leading workforce accepts an agile work environment and a collaborative culture to deliver outstanding solutions and results. Our Risk Analytics professionals play a key role in transforming quantitative data analysis into meaningful insights that drive business results. Specifically, they serve as the conduit joining quantitative risk analysts to business partners.

As a Consultant, you'll be responsible for the creation and management of risk analytics projects to solve business problems and achieve objectives. You’ll work consultatively with your leadership and business partners to match quantitative analysis with business needs. We’ll count on you to be the key point of contact linking business goals to technical research. It’s imperative that you have both a working knowledge of quantitative analytics and a clear understanding of business needs. You will need to confident articulating solutions to many levels of leadership.

Job Description

Key Responsibilities: 

• Understands and assesses key business needs and responsible for developing the appropriate quantitative modeling solutions to these needs.

• Collaborates with departments across the organization or business functions to accomplish strategic goals, objectives, and initiatives.

• Builds risk analytic strategies for business problems through collaborating, consulting, and driving expectations.

• Collaborates with teams across the enterprise to ensure that consistent model assumptions, processes and outputs are well understood and that modeling standard methodologies are upheld throughout the organization.

• Crafts clear and concise summaries of findings and recommendations. Uses impactful storylines and data visualization geared to both technical and non-technical audiences.

• Develops, tests, implements and administers complex quantitative modeling processes and tools.

• Evaluates and ranks quantitative solutions to business problems.

• Communicates the key benefits and limitations of sophisticated modeling tools for business applications. 

• Works across teams to ensure governance of modeling tools are applied consistently.

May perform other responsibilities as assigned. 

Reporting Relationships: Reports to Risk/Actuarial leader. 

Typical Skills and Experiences:

Education: Undergraduate studies in finance, accounting, economics, statistics, mathematics or related subject area required. Graduate-level studies in a related field with advanced degree highly desirable. 

License/Certification/Designation: Progress toward FCAS, FSA, CQF, CFA or similar preferred.

Experience: Typically, seven or more years of related work experience in financial risk modeling or actuarial functions.

Knowledge, Abilities and Skills: Proven knowledge of processes and functions spanning the insurance and risk management cycle. Understands machine learning, stochastic processes, Monte Carlo simulations, sampling methods and other statistical techniques applicable to specialized risk modeling. Confirmed 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. Strong communication and presentation skills. Advanced proficiency with Excel and Powerpoint. 

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 Human Resources Business Partner.

Values: Regularly and consistently demonstrates Nationwide Values.

Job Conditions:

Overtime Eligibility: Not Eligible (Exempt)

Working Conditions: Normal office environment.

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. 

We currently anticipate accepting applications until 01/01/2025. 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 Consultant, Risk Analytics : $104,000.00-$215,000.00

The expected starting salary range for Consultant, Risk Analytics : $115,000.00 - $173,000.00