Pricing Modeler - Commercial Actuarial

This role can also be filled at the Specialist through Consultant level depending on candidate qualifications.

#LI-SM1

Job Description Summary

Our Property and Casualty Actuarial team members are encouraged to experiment and are provided the opportunity to use innovative tools and apply advanced analytics to help drive business results. If you can see yourself thriving in this type of environment, then we want to know more about you!

As a Consultant in actuarial analytics, you will conduct complex multivariate analysis to determine pricing and risk segmentation opportunities. You will work independently on linear models and machine learning algorithms that aid in pricing and underwriting decisions. You may lead a small team of less experienced researchers with full accountability for completion of large and complex projects. You will use existing data warehouse and pricing databases, create new ones by sourcing additional data or combine multiple sources in order to complete the analysis. We’ll count on you to identify new research projects and build a case for completion. Reviewing, validating, and completing quality checks to guide others will be an important part of your work.

Job Description

Key Responsibilities:

• Consults with business partners to identify scope and specifications for complex project requests. Researches industry trends, methodologies and data sources to provide recommendations. Uses actuarial methodology best practices to deliver work products

• Creates project plans based on customer input, data and actuarial methodology best practices. Establishes criteria, assumptions, data sets and parameters for analysis. Creates timelines, priorities and format for deliverables.

• Performs analysis of complex multivariate data and business scenarios based on established actuarial methodology best practices. Provides complete analysis based on data, domain and industry trends to identify gaps issues for pricing and underwriting project plans. Continues ongoing analysis to ensure relevance market competitiveness.

• Prepares presentations and holds discussion with business partners and leadership. Provides interpretation of findings and provides solutions to resolve business needs.

• Provides guidance and support for regulatory reviews on work products in addition to pricing and product use. Measures rate profitability and impact.

• Develops standard reporting packages for approved projects. Monitors ongoing performance of implemented models and reports on newly identified gaps

• Provides expert/actuarial opinion on the structure of analysis, interpretation of findings and usefulness of results. Responsible for the development and maintenance of models and best practices to provide the functionality necessary to drive business objectives.

• Support adherence to enterprise model governance standards. Support includes documenting models, developing and executing controls, developing and performing testing and identifying model limitations.

• Conducts core studies that require extended timelines, extensive data collection, leveraging associate knowledge, identifying root cause and associated influence. May be responsible for a segment of the work or for integration of various project elements.

• Provides ad hoc queries via various software languages, domains and applications for large data sources.

May perform other responsibilities as assigned.

Reporting Relationships: Reports to Actuarial leader

Typical Skills and Experiences:

Education: Undergraduate studies in statistics, data science, data analytics, actuarial science, mathematics, marketing research or related fields. Postgraduate degree strongly preferred.

Experience: Generally, six years of experience with coding and programming, predictive modeling and data manipulation. Experience with problem solving in a business environment; working with large transactional databases. Experience in conceptualizing and designing models to address business needs. Experience in leading a statistical/actuarial-based analytical project.

Knowledge, Abilities and Skills: Advanced knowledge of spreadsheets, data mining, statistical and other modeling applications and data manipulation. Proven excellence in problem solving, analytical, research and quantitative analysis and analytical working techniques. Strong verbal and written communication skills for interaction with client, work teams, vendors and associates. Proficiency in a variety of software languages.

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 the Nationwide Values.

Job Conditions:

Overtime Eligibility: Exempt (Not Eligible)  

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.

#actuarialSmoke-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.