**ADDITIONAL INFORMATION - PLEASE READ CAREFULLY**
The information between the asterisks contains specific information about this position while the information after the asterisks contains general information about jobs in this job family at Nationwide.
Nationwide Private Client Insurance is a bold insurance company dedicated to the development of our associates, unlocking profitable growth opportunities for our agents and brokers while working relentlessly to meet the distinctive coverage and service needs of our clients. We measure our success by the relationships we build and the trust we earn.
Nationwide Private Client Insurance services the affluent market and holds a rating of A+ from both A.M. Best and Standard & Poor's.
Who We Are: In looking for new and innovative ways to help consumers achieve their financial goals, Nationwide Private Client Insurance was created to serve the affluent and high net worth market for Personal Insurance. We seize opportunities, we are relentless on our clients' behalf, we listen and adapt to our agents and we respect their time. Say "yes" to Nationwide Private Client Insurance!
Responsible for the analysis, development, and maintenance of Nationwide Private Client Insurance products. Propose and implement product enhancements which influence profitability and growth. This position will coordinate preparation and manage the implementation of pricing reviews, rate recommendations and state insurance department rate filings. This position will also be responsible for presenting product/rate proposals to region.
+ Monitor profitability of insurance business and acceptability of insurance rates
+ Aid in the professional development and training of team members
+ Manage development, analysis and implementation of enhancements to existing insurance products as well as the development of new products.
+ Coordinate communication with underwriting, marketing, claims, accounting and insurance technology departments.
+ Manage compliance projects, knowledge of state laws and regulations which impact the company's business, aid in the implementation of changes to company programs and operations which ensure statutory compliance.
+ Manage program enhancements that require systems programming with the insurance technology department.
+ Review industry information and monitor rating bureau's for updated industry information
+ Other activities as needed
+ Aid in coordination of program enhancements that require systems programming with the insurance technology department.
+ Develop and submit regulatory filings with the applicable state insurance departments.
Bachelor's degree in Math, Economics, Finance or related field or equivalent education and work experience.
+ Five to seven years experience in product management and pricing within property/casualty insurance industry
+ Extensive knowledge of various pricing techniques and competitive analytics
+ Excellent organizational and time management skills
+ Ability to work independently, display leadership and develop others within the department, overcome obstacles and drive results, interact with other functional areas as the central point of contact
+ Strong attention to detail and quality orientation
+ Advanced PC aptitude including use of Microsoft Excel and Access
Qualifications: Strong quantitative skills; CAS exams; project management skills; and comprehension of insurance company operations (Underwriting, Claims, Finance, Actuarial, Marketing, IT).
Please note this job may be filled at either the Manager, Pricing or Supervisor, Pricing level depending on the qualifications and related experience of the chosen applicants.
Preferred location for this role will be Rosemont, IL. Scottsdale, AZ will also be considered.
JOB SUMMARY: Manages the preparation of loss, expense, and premium data for actuarial pricing reviews and/or ratemaking. Estimates future loss and premium results. Trains and approves work of others. Instructs others on company systems, databases, applications, business, policies, practices and regulations. Accesses a variety of data sources and performs complex analyses. Accountable for the completion of sophisticated special assignments and projects. Operates autonomously under minimal guidance and supervision. Manages the construction and validation of statistical/actuarial models to enhance rating and/or underwriting.REPORTING RELATIONSHIPS: Director/Officer; 6+ direct reports.DUTIES AND RESPONSIBILITIES:1. Retrieves and manipulates data; accountable for suitability and accuracy of data.2. Continues to develop knowledge of advanced actuarial methodologies and insurance concepts. Evaluates alternative methods for use; develops methods to deal with new situations.3. Ensures others conduct analyses that adhere to actuarial standards of practice: selects appropriate data sources and methods, makes assumptions, recognizes considerations and develops recommendations.4. Accountable for documentation of assumptions, methods, sources, considerations; organizes documents. Adheres to actuarial standards of practice.5. Accountable for resolving unreasonable results/non-optimal solutions using experience and professional judgment.6. Accountable for communications that are suitable to the audience, concise, logical organizational and grammatically correct with minimum use of actuarial and insurance jargon. Sees that context reflects appropriate analysis.7. Develops work plans to ensure timely completion of assigned tasks; monitors progress against work plan and takes action to meet plan.8. Accountable for ensuring that appropriate Peer Tech Reviews are completed; responsible for quality of results of entire work product. Participates in interdisciplinary and interview team activities as assigned.9. Leverages relationships with business partners (Product, Systems, Regional Offices, etc.) and external players (regulators, etc.) to achieve routine and more complex assignments. Coaches direct reports and others on relationship development and management. Manages presentation preparation and/or makes presentations to Home Office, Regional , or other outside audiences.10. Professionally represents company's position with regulators, auditors, external vendors; exercises good judgments and keeps manager informed. Negotiates within defined parameters as assigned.11. Applies and/or oversees the appropriate data mining techniques to discover new relationships in the data. Monitors the effectiveness of statistical/actuarial rating and/or underwriting models.12. Responsible for management of associates including: performance management, salary planning and administrations, training and development, workflow planning, hiring and placement, and disciplinary actions.13. Creates and manages assigned budget.14. Performs other related duties as assigned.MINIMUM JOB REQUIREMENTS:Experience: Minimum eight years related experience (e.g., pricing, actuarial, product) or combined experience and educational equivalent. Previous supervisor/manager experience desired.
Education: Bachelors degree (preferred) in actuarial science, business, finance, mathematics, statistics, economics or related field with a strong quantitative orientation.
Knowledge: Mastery of standard actuarial methodologies and insurance concepts (perhaps evidenced by Casualty Actuarial Society designation). Displays command of legal and regulatory requirements in area of assignment as well as pricing procedures and methodologies. Demonstrated ability to manage people and projects.
Skills and Competencies: Demonstrated work product accuracy. Effective verbal/written communication skills; Demonstrated ability to comprehend actuarial concepts and other advanced statistical concepts; Demonstrated ability to think logically and perform actuarial methods in a timely manner. Ability to effectively operate personal computer and related spreadsheets and database software. Leadership ability when functioning in a management role.
Staffing Exceptions: Staffing exceptions to the above minimum job requirements must be approved by the: Pricing Officer/Executive and Human Resources.JOB CONDITIONS:Overtime Eligibility: Not Eligible (exempt)
Working Conditions: Normal office environment; extended and/or non-standard work hours based on project and service delivery needs. Travel as needed.
ADA: The above statements cover what are generally believed to the principal and essential functions of this job. Specific circumstances may allow or require some associates 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.
Job Evaluation Activity: Evaluated March 2006 SMPJob Family/Function: ACT/PRF
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